RentData

Average Rent in Gates County, NC↑ Rents rising 17.1% YoY

HUD FY2025 · Official government data · Updated annually · Metro pop. 10,437

Data review: HUD FY2025Sources: HUD, Zillow, Census, BLSMethodologyEditorial standardsReport a correction

Market Overview

Gates County, NC has rental prices ranging from $1,069/month to $2,038/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,079/month — 23% below the national average of $1,400/month. With a median household income of $61,612/year, spending $1,079/month on a 1-bedroom represents 21% of gross income — within the recommended 30% threshold.

How Gates County Compares

With an average 2-bedroom rent of $1,230/month, Gates County ranks #15 most expensive of the 87 cities tracked in North Carolina — pricier than 83% of all US cities in our data.

The Gates County Rental Market

The Gates County, NC area has a population of about 10,437 and 18% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Gates County, NC have risen by $180/month (17.1%) over the past year, from $1,050 to $1,230. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.

Affordability

To afford a 1-bedroom apartment in Gates County, NC without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $43,160. The local median household income of $61,612 exceeds that threshold by $18,452, making Gates County relatively accessible compared to local wages.

Economy & Jobs

Gates County, NC has an unemployment rate of 3.7%, 0.2 percentage points below the national average of 3.9%. Strong employment conditions typically sustain rental demand, as workers relocate to the area and local residents maintain stable housing.

Fair Market Rents

HUD FY2025
Studio
$1,069
Affordable
1 Bedroom
$1,079
Affordable
2 Bedrooms
$1,230
↑17.1% YoY
Affordable
3 Bedrooms
$1,653
Average
4 Bedrooms
$2,038
Average
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Is Gates County, NC Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Affordability Index(30% income rule)

To rent a 2BR
$49,200/year
Local median income: $61,612
To buy a median home
—/year
US national median: $75,000
💡 Based on a 2BR rent of $1,230/month and 20% down on a — home at 7% rate.

Nearby Cities in NClargest metros in the state

CityStudio1BR2BR3BRHome Value
Anson County$834$927$1,216$1,465—
Charlotte$1,586$1,647$1,824$2,250—
Camden County$982$990$1,129$1,582—
Virginia Beach$1,475$1,483$1,696$2,361—
Raleigh$1,533$1,592$1,763$2,192—
Greensboro$999$1,039$1,150$1,463—

Rent or Buy in Gates County?

Break-even analysis and mortgage estimates based on local market data.

Should I Rent or Buy?

Break-even analysis using real Gates County data

$
Home Value
$350,000
2BR Rent
$1,230/mo
Mortgage Rate
7%
Monthly P&I
$1,863/mo
🏠 Buy

Buying breaks even after 1 year — worth it if you stay 1+ years.

Total monthly buy cost: $2,577/movs rent: $1,230/mo
Estimates only. Excludes HOA, PMI (if <20% down), closing costs, and tax benefits. Assumes 5% return on invested down payment.

Living in Gates County

Cost of living, job market, crime rates, and moving cost estimates.

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Frequently Asked Questions

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🏘️Neighborhoods in Gates County

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💵Rent Affordability in Gates County

Salary needed to afford rent here

🗺️All Cities in NC

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⚖️Compare Gates County

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📋NC Tenant Rights

Deposit limits, eviction laws & renters protections