Piedmont Triad Apartment Indicators Still Strong

Real Data just released their latest Triad apartment report, and while the Triad isn’t the piping hot market that Raleigh or Charlotte is, the numbers still look good. From the Triad Business Journal:

That leaves the region’s apartment vacancy at 6.9 percent, the lowest rate in more than a decade. A year ago, the Triad’s total apartment vacancy rate was 8.3 percent.

Across the region, there are 1,993 units currently under construction and another 2,531 proposed, the report said. As it was in this fall’s report, the most active submarket was downtown Winston-Salem, with 836 units under construction and another 224 proposed.

Average rent in the Triad rose to $710, up 1.6 percent from $699 a year prior. One-bedroom units average $609 rental rates, while two-bedroom rents average $699 and three-bedrooms average $922.