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Fayetteville vs Winston-Salem for Rental Property Investing

Side-by-side comparison of Fayetteville, NC and Winston-Salem, NC — cap rates, rent, prices, and investment metrics.

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Fayetteville wins 5–2 across key metrics

Fayetteville leads on cash flow (4.85% vs 4.42% cap rate)

Metric

Fayetteville, NC

Winston-Salem, NC

Est. Cap Rate

4.85%

4.42%

Median Home Price

$195,000

$215,000

Median Monthly Rent

$1,120

$1,150

1% Rule

0.57%

0.53%

GRM

14.5x

15.6x

Price / Income

4.4x

4.8x

Property Tax Rate

0.79%

0.81%

Vacancy Rate

6.5%

6%

Population Growth

0.8% / yr

0.7% / yr

Annual Appreciation

2.5%

2.8%

Population

211,657

253,540

Median Income

$44,200

$44,600

Fayetteville vs Winston-Salem: Which Is Better for Investors?

Cash flow: Fayetteville has the edge with an estimated cap rate of 4.85% compared to Winston-Salem's 4.42%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $195,000 in Fayetteville vs $215,000 in Winston-Salem, while rents come in at $1,120/mo and $1,150/mo respectively.

Growth & appreciation: Fayetteville is growing faster at 0.8% annually vs Winston-Salem's 0.7%. Winston-Salem leads on home value appreciation at 2.8% per year.

Costs & risk: Property taxes are 0.79% in Fayetteville vs 0.81% in Winston-Salem. Vacancy rates of 6.5% and 6% are mixed — Winston-Salem has the tighter rental market.

Bottom line: Fayetteville edges out Winston-Salem on most key metrics. While cap rates are moderate at 4.85%, Fayetteville's overall profile is stronger. Use our free calculators to model specific deals in Fayetteville or Winston-Salem.

Fayetteville, NC

4.85% cap rate · $195,000 median · $1,120/mo

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Winston-Salem, NC

4.42% cap rate · $215,000 median · $1,150/mo

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