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City Report · NC

Hillsborough

Pop. 9,724·100th most expensive in North Carolina·Hillsborough rents have dropped 12.4%, currently a renter's market
Median rent (all units)
$1,454/mo
Year-over-Year
-12.4%
Month-over-Month
Stable
vs US Median
-$511
Stable (Monthly)
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Most AffordableMost Expensive
Hillsborough · $1,454
More affordable than 78% of US cities · National median $1,965/mo
Affordability
18% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,454/mo, rent takes about 18% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$58,000/yr
Local median income
$98,163/yr
Based on the 30%-of-income rule using Hillsborough's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,440
1 BR
$1,520
2 BR
$1,740
3 BR
$2,170
4 BR+
$2,610
Research median
$1,740/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$17,448/yr
At $1,454/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 12.4% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-12.4% YoY, -0.1% MoM), not inventory.
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Demographics

Who lives here

Hillsborough, NC is majority owner-occupied, has a median income above the national average, 61.4% of residents hold a bachelor's degree or higher.

Population
9,724
Median income
$98,163
Median age
42.5
Renters
36.2%
Age distribution
22.6%
14%
29.5%
16.1%
17.8%
Under 1822.6%
18–3414%
35–5429.5%
55–6416.1%
65+17.8%
Gender
47%
53%
Male47%
Female53%
Race & ethnicity
75.2%
White75.2%
Black8.2%
Hispanic8.2%
Asian2.8%
Other5.6%
Education (25+)
20.2%
61.4%
No HS diploma6.5%
HS diploma12%
Some college20.2%
Bachelor's+61.4%
Housing tenure
63.8%
36.2%
Owner63.8%
Renter36.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Hillsborough, NC has changed in 5 years

Income
$77,114 → $98,163
up 27.3%
Population
9,342 → 9,724
up 4.1%
Renter share
33.8% → 36.2%
+2.4 pts
Bachelor's+
59.7% → 61.4%
+1.7 pts
Median age
44.8 → 42.5
-2.3 yrs

Local incomes tracked alongside that move, going from a median of $77,114 in 2021 to $98,163 more recently. The population has grown by 4.1% since 2021, moving from about 9,342 residents to roughly 9,724. Renters now make up 36.2% of households, compared with 33.8% five years ago.

Community

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View Hillsborough rent history (2015–2026) →
Salary vs rent

Can you afford rent in Hillsborough on your salary?

At $1,454/mo, how Hillsborough rent compares to typical pay (30% rule).

By apartment size

Hillsborough rent by bedroom count

Median rent for each apartment size in Hillsborough. Click any size for full breakdown.

Local insights

Tips for renters in Hillsborough

About renting in Hillsborough, NC

Last updated: July 20, 2026

The median rent in Hillsborough is $1,454/mo as of July 2026. A studio apartment averages $1,440/mo while a 2-bedroom runs $1,740/mo. One-bedroom apartments average $1,520/mo and 3-bedroom units go for $2,170/mo.

At 18% of local median household income ($98,163/yr), Hillsborough ranks as affordable compared to the national benchmark of 30%. Rents have decreased 12.4% over the past year.

FAQ

Frequently asked questions

Is Hillsborough an affordable city for renters?

Hillsborough is considered very affordable for renters. At $1,454/mo, rent takes approximately 18% of the local median household income ($98,163/yr). The standard benchmark is 30%. Hillsborough falls comfortably within that range.

How much income do you need to rent in Hillsborough?

To keep rent at or below 30% of gross income, you would need to earn at least $58,000/year (~$28/hour full-time) to afford the median rent of $1,454/mo in Hillsborough. The local median household income is $98,163/yr, meaning the typical Hillsborough household meets that threshold.

Is rent going up or down in Hillsborough?

Rent in Hillsborough has decreased 12.4% over the past year as of July 2026, offering some relief compared to 12 months ago.

How does Hillsborough rent compare to other cities in North Carolina?

Hillsborough is one of the more affordable cities in North Carolina for rent, ranking #100 out of 126 tracked cities at $1,454/mo.

Which nearby cities are cheaper to rent in than Hillsborough?

Graham is nearby and more affordable at $1,382/mo, which is $72 less than Hillsborough.

What percentage of Hillsborough residents rent vs. own?

According to Census data, approximately 36.2% of Hillsborough households are renters, while 63.8% are owner-occupied. Hillsborough leans toward homeownership, which can mean a smaller rental inventory.

How does Hillsborough rent compare to the national average?

Hillsborough's median rent of $1,454/mo is $511 (26%) below the US national median of $1,965/mo. Within North Carolina, it ranks #100 out of 126 tracked cities.
Income Affordability
18%
VERY AFFORDABLE

At $1,454/mo, rent takes ~18% of Hillsborough's median household income ($98,163/yr). The standard benchmark is 30%.

Hillsborough 18%Benchmark 30%
State income tax4.5%
Run the Hillsborough affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Hillsborough, NC

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