Rent.com is reporting the average rent for one-bedroom in North Carolina is $1,378 and that's up nearly 22 percent from last year.
[Ads /]
The increase is three times the national rate of inflation, which is at a near 40-year high.
Taylor Dodgin is moving back to Raleigh. She feels hopeless searching for an apartment in her price range and is struggling to get a hold of landlords.
"(It's been) difficult," said Dodgin. "I've been emailing the guy. I can't t even get him on the phone to have this conversation."
A partner at Dogwood Properties, one of the Triangle's largest property management groups, says rent for single-family homes, in particular, have become astronomical and rents have gone up 40 percent in Durham.
Realtor Danni Dichito has been working with clients relocating to the Triangle and helping them secure short-term rentals while searching for a permanent place to purchase.
[Ads /]
She says the rental market has become almost as competitive as the real estate market
"It can be disheartening, but I tell people all the time 'Don't give up.' Being aggressive and keeping at it is really what's going to get you what you're looking for," said Dichito.
She still recommends buying rather than renting since interest rates remain low.
Renter Matthew Jenkins said that's not even an option.
"I thought house prices were bad two or three years ago, and they've just gone up exponentially to the point (where) we'll be the renter generation. We'll forever be renting. It's just getting impossible to own a place," said Jenkins.