Highlights from Just Released Real Data Report for Triad Apartment Market

Real Data just released their April, 2016 report from their March surveys for the Piedmont Triad and here are the highlights:

  • Average rents are up 2.1% since Mar, 2015
  • Vacancy rate is 7.5%, up from 6.7% in Sep, 2015
  • Demand has weakened in last 6 months, with only 355 units absorbed out of 929 completed over that time
  • Development pipeline includes 3,040 units under construction and another 3,220 proposed
  • Alamance is most active development sub-market with 630 units under construction
  • Average rents are: 1 BR-$673, 2BR-$760, 3BR-$973
  • Real Data projects vacancy to grow to 8% over next year, and rents to rise 2-3% as well.
  • Sub-market with highest overall rent: Guilford Central (Downtown Greensboro)
  • Sub-market with highest rent per SF: Forsyth Central (Downtown Winston-Salem)

For detailed reports, sub-market specific data, direct comps and more you can purchase a copy of the report from Real Data at www.aptindex.com.