Are Rents in High Point Really the Highest in the Triad?

According to this slideshow in the Triad Business Journal, which is based on data from Apartment List, the highest average rent for a 2BR apartment in the Triad is in High Point. The report is for August, 2016 and is based on listings on the Apartment List site, which probably explains the discrepancy with Real Data’s April report. That report shows that in the Triad sub-markets High Point’s rents are not the highest of the Triad sub-markets. In fact, the average rent per square foot in High Point is the lowest of any of the Triad sub-markets tracked by Real Data.

The lesson here is not that Apartment List is wrong, but that when presented with data you need to look at the methodology behind the data. In this case Apartment List is using only the data from their own site while Real Data is surveying almost all of the market rate apartment communities in the Triad. Also, Apartment List is using list price while Real Data is surveying apartment communities and incorporating concessions into average rent calculation. In other words you have two different methodologies, two different data sample sets and thus two very different results.

FYI, here’s a link to Apartment List’s page where they explain their methodology and here’s a link to Real Data’s page.