State rental market analysis · NC
North Carolina rental markets
140 tracked cities over 5,000 population, 140 ranked and summarized by their median Overall; 12 of 136 evaluable cities pass the modeled Buy & Hold screen. Every number traces to Census, Zillow and BLS. Compare state coverage and results →
Browse every North Carolina ZIP Code area → · the full server-rendered index for this state.
Part of the South Atlantic Census division (South region).
The honest read
North Carolina ranks #8 of 37 coverage-eligible states for rental investing, with a median Overall of 53.2/100 across its ranked cities, above the national median. 140 ranked cities roll up into this grade. Its strongest factor is population growth: 1.6%, 5th of 51, backed by job growth (7th).
The biggest drag is rent growth: 3.7%, 39th of 51. A state grade is the median of its ranked cities, a screen for where to look, not underwriting. Open any city below for its full shown-math breakdown, or run a specific deal through the cap rate and cash-flow calculators.
Where it ranks, factor by factor
Every value is the median across the 140 ranked cities in this state. The national rank compares all 51 states on that one factor; the engine already flips inverted factors (affordability, low unemployment) so a better rank always means a better market. Each factor sits in one of the model’s three categories (Cash Flow, Growth, or Stability); this is a representative summary, and the full thirteen-factor breakdown is on each city’s page. Full methodology.
| Factor | Category | State value | National rank |
|---|---|---|---|
| Gross rent yield | Cash Flow | 5.6% | #31 of 51 |
| Rent growth | Growth | 3.7% | #39 of 51 |
| Home value growth | Growth | 3.8% | #28 of 51 |
| Population growth | Growth | 1.6% | #5 of 51 |
| Job growth | Growth | 1.4% | #7 of 51 |
| Price-to-income | Cash Flow | 4.7× | #25 of 51 |
| Unemployment | Stability | 3.8% | #22 of 51 |
| Rental demand | Stability | 44% renters · 7.4% vacancy | two-part measure |
| Income growth | Growth | 5.5% | #17 of 51 |
Every city in North Carolina, ranked
Led by Whispering Pines at 76/100. Click any column to re-sort; every city links to its full shown-math breakdown.
| NC rank | City | Grade | Cash Flow | Growth | Stability | Typical home value | Gross yield | National rank |
|---|---|---|---|---|---|---|---|---|
| 1 med | Whispering Pines | 76 | B | A | B | $534,091 | 6.0% | #36 |
| 2 med | Archer Lodge | 74 | B | A | B | $324,500 | 5.4% | #54 |
| 3 med | Walkertown | 74 | A | B | B | $270,880 | 7.0% | #57 |
| 4 | Cramerton | 73 | A | B | B | $306,785 | 7.7% | #78 |
| 5 | Indian Trail | 72 | B | B | B | $414,348 | 5.9% | #85 |
| 6 med | Carolina Shores | 72 | A | A | C | $320,502 | 8.2% | #92 |
| 7 | Stallings | 72 | B | B | B | $458,221 | 6.6% | #96 |
| 8 | Clayton | 72 | B | B | B | $361,047 | 6.0% | #100 |
| 9 | Knightdale | 72 | B | A | B | $363,989 | 5.6% | #103 |
| 10 | Harrisburg | 71 | B | B | C | $496,423 | 6.1% | #114 |
| 11 | Gibsonville | 71 | A | B | C | $304,282 | 7.6% | #123 |
| 12 | Zebulon | 71 | B | A | C | $340,654 | 6.9% | #130 |
| 13 | Fuquay-Varina | 70 | B | A | B | $437,695 | 5.2% | #140 |
| 14 | Aberdeen | 70 | B | A | C | $350,159 | 6.1% | #142 |
| 15 | Angier | 70 | C | B | B | $331,213 | 6.7% | #147 |
| 16 | Trinity | 69 | A | C | B | $291,110 | 7.3% | #157 |
| 17 | Rolesville | 69 | B | B | B | $493,311 | 5.6% | #165 |
| 18 | Wendell | 69 | B | A | C | $367,247 | 6.0% | #171 |
| 19 med | Boiling Spring Lakes | 68 | C | B | B | $314,963 | 5.7% | #212 |
| 20 | Mount Holly | 67 | B | B | B | $358,147 | 5.9% | #247 |
| 21 med | Pleasant Garden | 67 | A | C | B | $314,972 | 7.6% | #246 |
| 22 med | Wesley Chapel | 67 | B | B | B | $657,159 | 7.2% | #248 |
| 23 med | Selma | 67 | C | A | B | $273,345 | 5.7% | #254 |
| 24 | Cherryville | 66 | C | A | B | $250,712 | 5.3% | #294 |
| 25 | Monroe | 66 | B | A | C | $356,798 | 6.5% | #300 |
| 26 | Kannapolis | 66 | B | B | C | $279,713 | 6.9% | #308 |
| 27 | Leland | 66 | B | B | C | $384,364 | 5.2% | #312 |
| 28 | Smithfield | 66 | C | B | B | $290,708 | 6.9% | #320 |
| 29 | Concord | 64 | C | B | C | $380,870 | 5.7% | #412 |
| 30 | Hope Mills | 63 | B | C | C | $262,834 | 7.6% | #448 |
| 31 med | Oak Ridge | 63 | B | C | C | $599,623 | 6.8% | #471 |
| 32 | Bessemer City | 63 | B | B | C | $238,608 | 7.2% | #490 |
| 33 med | Elon | 63 | B | B | C | $347,638 | 6.8% | #495 |
| 34 med | Stokesdale | 62 | B | B | C | $387,090 | 4.6% | #547 |
| 35 | Wake Forest | 62 | C | B | B | $507,240 | 4.3% | #549 |
| 36 | Summerfield | 62 | B | C | C | $513,859 | 5.6% | #553 |
| 37 | Siler City | 61 | C | B | B | $259,003 | 6.3% | #586 |
| 38 | Lincolnton | 61 | C | B | B | $297,866 | 5.6% | #618 |
| 39 | Graham | 61 | C | B | C | $291,588 | 5.7% | #647 |
| 40 | Waxhaw | 61 | D | B | B | $709,982 | 4.4% | #664 |
| 41 | Kings Mountain | 60 | B | C | B | $243,701 | 8.4% | #721 |
| 42 | Belmont | 60 | C | B | C | $431,349 | 5.5% | #747 |
| 43 med | Long View | 59 | B | C | C | $157,300 | 6.1% | #765 |
| 44 | Sanford | 59 | B | B | C | $288,740 | 7.5% | #782 |
| 45 | Morehead City | 59 | C | B | A | $415,862 | 5.1% | #795 |
| 46 | Apex | 59 | C | B | B | $592,991 | 4.0% | #808 |
| 47 med | Dallas | 59 | D | A | B | $273,155 | 4.1% | #810 |
| 48 | Pinehurst | 59 | C | B | B | $537,061 | 4.6% | #857 |
| 49 | Thomasville | 58 | B | C | C | $238,670 | 6.1% | #873 |
| 50 | Albemarle | 58 | C | B | B | $263,567 | 5.8% | #875 |
| 51 | Archdale | 58 | B | C | B | $251,975 | 6.6% | #885 |
| 52 | Southern Pines | 58 | C | B | C | $458,384 | 4.7% | #916 |
| 53 | Cornelius | 58 | C | B | B | $522,002 | 4.2% | #948 |
| 54 | Huntersville | 58 | C | B | B | $546,644 | 4.1% | #968 |
| 55 | Elizabeth City | 57 | C | B | C | $267,652 | 6.3% | #994 |
| 56 | Kernersville | 57 | B | B | C | $321,069 | 6.5% | #1000 |
| 57 med | Oxford | 57 | C | C | B | $251,806 | 6.1% | #1054 |
| 58 | Newton | 57 | B | C | C | $259,410 | 6.3% | #1066 |
| 59 | Pineville | 55 | C | B | C | $401,841 | 5.0% | #1193 |
| 60 | Mebane | 55 | C | B | C | $350,676 | 5.1% | #1202 |
| 61 | Dunn | 55 | B | B | C | $228,215 | 7.2% | #1216 |
| 62 | Winterville | 55 | A | C | C | $278,709 | 6.9% | #1295 |
| 63 med | Butner | 55 | B | B | D | $267,826 | 6.8% | #1302 |
| 64 | Holly Springs | 55 | D | B | B | $574,699 | 3.9% | #1307 |
| 65 | Lenoir | 55 | B | C | C | $213,845 | 7.5% | #1306 |
| 66 | Morrisville | 54 | C | B | C | $470,563 | 4.3% | #1333 |
| 67 | Waynesville | 54 | C | C | B | $355,574 | 5.9% | #1352 |
| 68 med | Mocksville | 54 | D | B | B | $284,224 | 4.4% | #1367 |
| 69 med | Roxboro | 54 | C | C | C | $219,895 | 6.5% | #1423 |
| 70 | Statesville | 53 | B | A | D | $297,476 | 7.0% | #1456 |
| 71 | Tarboro | 53 | A | D | C | $157,007 | 8.5% | #1478 |
| 72 | New Bern | 53 | B | B | D | $283,749 | 6.7% | #1496 |
| 73 | Garner | 53 | C | B | D | $380,170 | 6.0% | #1532 |
| 74 med | Unionville | 53 | D | B | B | $417,140 | 3.5% | #1546 |
| 75 | High Point | 52 | B | B | D | $250,100 | 6.6% | #1609 |
| 76 | King | 52 | C | C | B | $278,545 | 5.6% | #1616 |
| 77 med | Nashville | 52 | B | D | C | $257,195 | 6.3% | #1620 |
| 78 | Gastonia | 52 | B | B | D | $275,364 | 6.5% | #1623 |
| 79 | Lexington | 52 | C | C | C | $273,382 | 6.9% | #1629 |
| 80 | Fletcher | 52 | C | C | C | $448,371 | 5.8% | #1636 |
| 81 | Jacksonville | 52 | B | C | D | $263,173 | 6.5% | #1638 |
| 82 | Davidson | 52 | D | B | C | $652,186 | 3.7% | #1682 |
| 83 | Morganton | 52 | B | C | C | $261,310 | 6.8% | #1718 |
| 84 | Burlington | 52 | C | B | D | $254,509 | 6.1% | #1721 |
| 85 | Greenville | 52 | B | C | D | $237,040 | 7.2% | #1742 |
| 86 | Hillsborough | 51 | D | B | B | $471,836 | 3.8% | #1780 |
| 87 | Matthews | 51 | D | B | C | $509,343 | 4.2% | #1800 |
| 88 | Henderson | 51 | B | D | C | $178,354 | 6.6% | #1822 |
| 89 | Boone | 51 | C | C | C | $482,733 | 5.4% | #1854 |
| 90 med | Laurinburg | 51 | B | C | D | $144,841 | 6.9% | #1857 |
| 91 med | Forest City | 51 | C | C | C | $190,259 | 6.1% | #1858 |
| 92 med | Hamlet | 50 | B | D | C | $131,881 | 6.8% | #1915 |
| 93 med | Rockingham | 50 | C | D | B | $134,488 | 5.2% | #1931 |
| 94 | Durham | 50 | C | B | D | $389,634 | 5.1% | #1979 |
| 95 | Reidsville | 50 | C | C | C | $211,582 | 6.7% | #2027 |
| 96 | Mooresville | 50 | D | B | C | $478,099 | 4.2% | #2033 |
| 97 | Wilmington | 50 | D | B | C | $419,038 | 4.9% | #2037 |
| 98 | Goldsboro | 49 | A | D | D | $194,054 | 8.8% | #2058 |
| 99 | Hendersonville | 49 | D | B | C | $408,296 | 4.9% | #2076 |
| 100 | Rocky Mount | 49 | A | C | D | $188,603 | 8.1% | #2089 |
| 101 | Clemmons | 49 | C | C | C | $386,249 | 5.3% | #2112 |
| 102 | Brevard | 49 | D | C | B | $456,651 | 5.3% | #2129 |
| 103 | Eden | 49 | A | D | D | $148,257 | 7.8% | #2153 |
| 104 | Oak Island | 48 | D | A | C | $604,000 | 4.1% | #2188 |
| 105 | Cary | 48 | D | B | B | $619,636 | 3.4% | #2191 |
| 106 | Hickory | 48 | C | B | D | $294,938 | 6.2% | #2259 |
| 107 med | Lewisville | 48 | D | C | C | $404,913 | 4.0% | #2284 |
| 108 | Charlotte | 48 | C | B | D | $392,573 | 5.3% | #2331 |
| 109 | Salisbury | 47 | C | B | D | $281,849 | 5.5% | #2427 |
| 110 med | Locust | 47 | D | A | C | $383,271 | 3.3% | #2452 |
| 111 | Winston-Salem | 47 | B | C | D | $263,057 | 6.9% | #2500 |
| 112 | Greensboro | 46 | B | C | D | $263,264 | 6.3% | #2548 |
| 113 | Mint Hill | 46 | D | B | C | $511,593 | 3.7% | #2561 |
| 114 med | Mills River | 46 | D | B | C | $524,267 | 4.3% | #2579 |
| 115 | Asheboro | 46 | C | C | C | $242,557 | 5.5% | #2624 |
| 116 med | Weddington | 45 | F | B | B | $1,050,246 | 2.8% | #2656 |
| 117 | Raleigh | 45 | D | B | D | $428,671 | 4.4% | #2712 |
| 118 | Fayetteville | 45 | B | C | D | $224,044 | 7.3% | #2750 |
| 119 | Kinston | 44 | A | F | B | $147,059 | 9.9% | #2827 |
| 120 | Havelock | 44 | B | D | C | $235,371 | 7.0% | #2890 |
| 121 | Marion | 43 | B | F | B | $239,213 | 6.3% | #3042 |
| 122 | Wilson | 42 | B | D | D | $216,582 | 8.1% | #3186 |
| 123 | Shelby | 42 | C | C | D | $212,840 | 6.3% | #3208 |
| 124 | Washington | 42 | D | D | C | $244,866 | 5.5% | #3209 |
| 125 med | Clinton | 41 | C | D | C | $159,498 | 4.3% | #3225 |
| 126 | Black Mountain | 41 | D | C | D | $456,390 | 4.7% | #3235 |
| 127 med | Sawmills | 41 | C | D | C | $228,940 | 4.0% | #3262 |
| 128 med | Woodfin | 41 | D | B | D | $366,700 | 5.1% | #3265 |
| 129 | Carrboro | 41 | D | C | C | $424,337 | 4.2% | #3307 |
| 130 med | Conover | 41 | D | C | D | $277,782 | 4.0% | #3309 |
| 131 med | Mount Airy | 41 | D | D | B | $222,824 | 4.8% | #3318 |
| 132 med | Roanoke Rapids | 40 | A | D | D | $132,688 | 7.2% | #3457 |
| 133 | Spring Lake | 37 | C | D | D | $259,071 | 6.6% | #3746 |
| 134 med | Ayden | 33 | D | C | D | $225,846 | 5.1% | #4070 |
| 135 med | Williamston | 32 | B | F | C | $133,784 | 7.7% | #4182 |
| 136 | Lumberton | 32 | A | F | D | $152,249 | 9.0% | #4188 |
| 137 | Carolina Beach | 30 | F | B | C | $603,767 | 4.5% | #4282 |
| 138 | Chapel Hill | 28 | F | C | C | $631,034 | 3.2% | #4433 |
| 139 | Kill Devil Hills | 26 | F | C | D | $524,221 | 4.8% | #4492 |
| 140 | Asheville | 25 | D | C | F | $448,688 | 4.6% | #4545 |
Data as of: Zillow ZHVI/ZORI through the latest monthly release · Census ACS 5-yr 2020–2024 · Census PEP July 2025 · BLS LAUS county 2025 annual (11-month average). Generated 2026-10-06. Methodology & limitations · underwrite any specific deal with the free calculators.
ZIP markets in North Carolina
853 Census ZIP Codes (ZCTAs) in North Carolina · 572 data-eligible for subscores. These are sub-city government areas ranked separately from the North Carolina city table. The overall Rental Investor ZIP Score leaderboard leads; the two component subscores (affordability, rental-market context) follow as independent percentiles. ZIP ranks are shown within the ZIP universe only, never mixed with, and not directly comparable to, city ranks. Vintage: the Key metric column is Census ACS 2020–2024 (5-year), the same release the city table above uses; the geographies differ, so the same measure can still disagree between the two.
Best overall ZIP Codes in North Carolina
Ranked by the overall Rental Investor ZIP Score. The # is each ZIP Code's canonical NC state rank; the smaller figure is its national rank. Separate from the North Carolina city table and not directly comparable to it.
| NC rank | ZIP Code | Overallgrade · national | Key metric |
|---|---|---|---|
| #1 | 27520Clayton | A 78#8 nat | 6.0%Survey yield |
| #2 | 27545Knightdale | A 78#10 nat | 5.7%Survey yield |
| #3 | 28376Five Points | A 76#29 nat | 5.8%Survey yield |
| #4 | 27519Cary | A 76#34 nat | 3.5%Survey yield |
| #5 | 27569Princeton | A 75#60 nat | 5.1%Survey yield |
| #6 | 28110Unionville | A 75#65 nat | 4.8%Survey yield |
| #7 | 28390Anderson Creek | A 75#69 nat | 6.8%Survey yield |
| #8 | 27527Archer Lodge | A 74#84 nat | 5.6%Survey yield |
| #9 | 27524Four Oaks | A 74#99 nat | 5.6%Survey yield |
| #9 | 28092Lincolnton | A 74#99 nat | 4.9%Survey yield |
| #11 | 28078Huntersville | A 74#122 nat | 4.6%Survey yield |
| #12 | 27526Fuquay-Varina | A 74#129 nat | 4.8%Survey yield |
Top affordability ZIP Codes in North Carolina
State-scoped leaders on the affordability subscore only (national rank shown is within that subscore’s data-eligible universe). Substantially an inverse housing-cost signal: a component of the overall score, not a predicted return.
| # | ZIP Code | Affordability | Key metric |
|---|---|---|---|
| 1 | 28544Piney Green | 92#234 nat | 10.7%Survey yield |
| 2 | 28643Lansing | 85#716 nat | 8.0%Survey yield |
| 3 | 28761Nebo | 85#766 nat | 7.4%Survey yield |
| 4 | 28436Delco | 84#795 nat | 7.5%Survey yield |
| 5 | 28634Harmony | 84#802 nat | 7.7%Survey yield |
| 6 | 28441Ingold | 83#978 nat | 10.7%Survey yield |
| 7 | 28333Dudley | 82#1,049 nat | 10.6%Survey yield |
| 8 | 28009Badin | 82#1,119 nat | 7.3%Survey yield |
| 9 | 28420Shallotte | 82#1,119 nat | 6.9%Survey yield |
| 10 | 28572Potters Hill | 82#1,119 nat | 8.1%Survey yield |
| 11 | 28525Deep Run | 82#1,132 nat | 10.1%Survey yield |
| 12 | 27922Cofield | 81#1,165 nat | 8.3%Survey yield |
Deepest rental-market ZIP Codes in North Carolina
State-scoped leaders on the rental-market-context subscore only (national rank shown is within that subscore’s data-eligible universe). Rental depth/tightness: a separate component, never combined here with affordability.
| # | ZIP Code | Rental market | Key metric |
|---|---|---|---|
| 1 | 28160Spindale | 82#106 nat | 5.4%Survey yield |
| 2 | 27890Weldon | 81#153 nat | 9.2%Survey yield |
| 3 | 28343Gibson | 80#278 nat | 11.4%Survey yield |
| 4 | 27536Henderson | 79#329 nat | 7.9%Survey yield |
| 5 | 27534Goldsboro | 79#339 nat | 6.5%Survey yield |
| 6 | 27573Roxboro | 79#382 nat | 5.8%Survey yield |
| 7 | 27212Yanceyville | 78#462 nat | 5.3%Survey yield |
| 8 | 27801Rocky Mount | 78#462 nat | 8.9%Survey yield |
| 9 | 28352Laurinburg | 78#479 nat | 7.8%Survey yield |
| 10 | 27510Carrboro | 78#518 nat | 3.9%Survey yield |
| 11 | 27870Roanoke Rapids | 77#529 nat | 8.4%Survey yield |
| 12 | 28723Cullowhee | 77#529 nat | 3.1%Survey yield |