If you’re looking for bad news in the Triad apartment market then you’re going to have to wait a while. Real Data’s latest report, out this week, shows that things are still very good for multifamily providers here:
The Triad’s apartment vacancy rate has improved during the last six months, dropping from 6.9 percent to 6.7 percent, according to the latest report from Charlotte research firm Real Data.
That’s a change from the April report, when the rate had ticked up to 6.9 percent from last October’s 6.5 percent, which was the lowest rate recorded in more than a decade, according to Real Data…
Real Data surveyed 63,210 units within Forsyth, Guilford and Alamance counties, up from 61,163 surveyed in April. Those units, on average, had a monthly rental rate of $760. That’s up from $741 in April and $728 last October.
The submarket with the highest average rent is downtown Greensboro, with rents rising 8% since April to $1,079.
If you’d like to purchase a full copy of the report you can do so at Real Data’s site.