Yardi Reports Triad’s Year-to-Year Rent Growth for June 2019

Yardi released its June Yardi Matrix Multifamily Report, its monthly summary of rental market conditions throughout the US, and found that the Triad’s rent growth is among the ten highest in smaller US metro markets. As you can see in the table below the Triad’s overall rent growth over the last year was 4.8%; “Lifestyle” rents increased by 6.2% and the “Renter-by-Necessity” sector of the market increased by 3.7%

You can download Yardi’s report by clicking here,

Triad’s Average Rent Growth is Strong According to Real Data

Real Data’s April ‘18 report for the Triad shows that occupancy is down a tad is better than it was a year ago, although down a tad in the last six months, while rents rose quickly in the last year.¬† Their data shows that vacancies have risen from 5.2% to 5.5% since October ’17, but are still below the 6% reported one year ago. Average rents¬†are up 4.2% over the last year, with the average rental rate now at $842 vs $794 a year ago.

Drilling down, the data shows that:

  • 1BR Units Average Rent = $741
  • 2BR Units Average Rent = $837
  • 3BR Units Average Rent = $1,039
  • Guilford-Central submarket has highest avg rent: $1,080
  • Forsyth-Central submarket has highest avg rent per SF: $1.107
  • Guilford-South submarket has lowest vacancy rate: 3.9%
  • Guilford-Northeast submarket has highest vacancy rate: 9.5%

Real Data’s forecast for the next year is that vacancy rates should remain below 6% and rents should continue to grow at a 4-5% annual rate.

To purchase a full report, including stats for individual apartment communities, visit www.aptindex.com