RALEIGH, N.C. (AP) - Rents for multifamily apartments are rising faster in North Carolina’s Raleigh-Durham area than they are across the nation.
The News & Observer of Raleigh reported Tuesday that average rent in the Research Triangle area is still less than it is nationwide. But the area has the faster rate of growth: 5.3% compared to the national pace of 3%.
That means it could be even more difficult to negotiate apartment rent in that part of the state.
The recent numbers come from RealPage, a real estate data company. RealPage economist Greg Willet said that robust growth in the local economy is fueling demand for both apartments and single-family homes.
The average rent in the Triangle is still about $1,174. That’s lower than the national average of $1,416.
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Information from: The News & Observer, http://www.newsobserver.com
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