Raleigh's rental market shows the first signs of stabilizing, but buying still costs renters a premium
By
Rental Beast
The quarter at a glance:
3BD and single-family rents turned a corner quarter-over-quarter (+1.0% and +1.6%), though both remain down sharply year-over-year (-16.7% and -14.9%)
Concessions eased to 60.7% from Q1's 66.6%, but still well above the national median of 39.9%
Days on market fell 24.1% to 22 days, with single-family leasing even faster at 19 days
Buying a median-priced home now costs $1,326 more per month than renting, the widest gap in this data series
Median Rent by Unit Type
One-bedroom rents rose 1.3% year over year to $1,390, while 2-bedrooms slipped 2.6% to $1,535. The real story is in the larger units: 3-bedrooms and single-family both posted their first quarter-over-quarter gains in some time.
Raleigh Cary, NC. Q2 2026
Median rent by property type
Bars show YoY % change
1BD
+1.3%
$1,390
2BD
-2.6%
$1,535
3BD
-16.7%
$1,495
SF
-14.9%
$1,575
MF
-1.2%
$1,499
Quarter over quarter: 1BD -0.4%, 2BD -0.1%, 3BD +1.0%, SF +1.6%, MF +0.3%Rental Beast
Concessions & Days on Market
Concessions are easing but still standard practice, and faster leasing alongside still-elevated incentives points to a market working through inventory rather than one that's tightening for renters.
Raleigh Cary, NC. Q2 2026
Concessions and days on market
60.7%
of listings offer a concession down from 66.6% in Q1 (up 11.6% YoY) National median: 39.9%
Median days on market
All
22
SF
19
MF
26
All -24.1% (SF -26.9%, MF -13.3%) quarter over quarter
National median: All 22 / SF 20 / MF 24
Rental Beast
Property Managers Market Sentiment
Property manager sentiment held steady and cautious, with soft leasing demand still the norm, which helps explain why concessions remain elevated even as rents and days on market improve.
Raleigh Cary, NC. Q2 2026
Market sentiment
Do you expect rent prices to increase, decrease, or remain the same over the next 6 months?
4%
15%
Remain the same, 81%
IncreaseDecreaseRemain the same
vs. Q1 2026: 4% increase, 10% decrease, 86% remain the same
Are you currently getting more, fewer, or about the same applicants for your available rentals?
7%
23%
About the same, 70%
FewerMoreAbout the same
vs. Q1 2026: 40% fewer, 2% more, 59% about the same
Rent vs. Buy: The gap widens again
Even as rent relief starts to show up in the larger-unit segment, owning a home in Raleigh got more expensive relative to renting this quarter, and the math still points renters away from buying for now.
Raleigh Cary, NC. Q2 2026
Rent vs. buy
Rent
$1,495
Buy
$2,821
$1,326/mo
more expensive to buy than rent. The gap widened from $1,187 in Q1 2026 (up $139 quarter over quarter).
Rent vs. buy gap by quarter
1Q252Q253Q254Q251Q262Q26
Median list price $460,000 (May 2026). 20% down, 6.5% rate, taxes and insuranceRental Beast
Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Rental Beast listing data covers a range of rental property types and owner types operating within the long-term rental market (generally considered to be leases with a minimum of three months). Data provided courtesy of Arizona Regional Multiple Listing Service, Inc. Single-family rentals are considered to be properties with 4 or fewer units. Multifamily is more than 4 doors. Unless otherwise noted, our analysis uses the Raleigh-Cary, NC, metropolitan statistical area (MSA) as the geographical unit.
Rents are calculated based on these listings. Days on market (DOM) and concession analysis are based on these listings, with some data sources excluded due to DOM and concession info being unavailable or deemed to be unreliable. Concessions are incentives that entice renters to sign a lease (e.g., one month free, a gift card, etc.).
Our sentiment survey is based on phone conversations during Q2 2026 with rental building and community managers and property managers. Questions and answer choices:
Q1. Do you expect rent prices to increase, remain the same or decrease over the next 6 months? [Possible answers: Remain the same, increase, decrease]
Q2. Do you believe you are currently getting more, about the same or fewer applicants for your available rentals? [Possible answers: About the same, more, fewer]
DISCLAIMER. This report attempts to provide reliable and useful information; however, there is no guarantee that the information or other content in this document is accurate, current or suitable for any particular purpose. All content is subject to change without notice. All content is provided on an “as is” basis, with no warranties of any kind whatsoever. Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Our analysis uses MSA as the geographical unit and is not reflective of all-U.S. measures. Information from this document may be used with proper attribution.
