Piedmont Triad Apartment Vacancy Rate Dips

The latest report from Real Data shows a slight uptick in apartment occupancy rates in the Piedmont Triad and Real Data expects more improvement in the year to come:

Average apartment vacancy in the Triad was a historically low 8.3 percent in March, compared to 8.7 percent in September, according to a report released Monday from Real Data.

The Triad’s vacancy rate had been 8.4 percent in March 2012…

The market report forecasts that the average apartment vacancy in the Triad will approach 7 percent in the coming year, while the average rent of $699 per month is expected to grow by about 3 percent in that time frame.

In 2009, the Triad had a vacancy rate of nearly 14 percent.