How much home can you get for $1,500 in rent in the Triangle? New report shows us

How much apartment space does $1,500 get you around the Triangle?

Though rent growth is slowing after two-plus years of hikes, prices remain high across the Triangle. But there is some good news: All cities in the Triangle offer more space than what the average American would get for this amount of money, according to RentCafe’s annual study.

In Raleigh, Durham and Cary, that budget would be enough for apartment seekers to rent a one-bedroom or maybe a two-bedroom apartment, with around 900 square feet at their disposal. That’s roomier than a rental in Charlotte, but not as spacious as one in the Piedmont Triad’s core cities.

Which Triangle suburb offers best value?

In the Triangle, Cary gives renters the most “bang for their buck” — an average of 912 square feet, the study found. That comes close to the average apartment size in the city (1,012 square feet), for which renters pay roughly $1,665.

In Raleigh, $1,500 will only get you an average of 888 square feet of apartment space, which is 67 square feet less than the city’s average size, but more than the national average for this budget (782 square feet).

Durham’s renters enjoy even less space with an average of 886 square feet — two square feet less than what Raleigh’s offering.

Across the state, Fayetteville ranks No. 1, offering 1,238 square feet for $1,500. Winston-Salem and Greensboro follow, with 1,148 and 1,129 square feet, respectively.

RentCafe, a nationwide apartment search website, analyzed 200 U.S. cities, comparing the amount of space you can rent on the same budget. It used apartment data from its sister company, Yardi Matrix.

Sorry, millennials. You may now be an owner-majority generation — but not in Raleigh