Apartment rental rates continue to rise in the Triangle with no end in sight as population growth and a booming economy make way for soaring demand and occupancy rates over 90 percent.
Rental rates in the Triangle saw a 6.5 percent growth rate over the past 12 months, according to the latest report by ApartmentData.com, bringing average rates to $1,165 per month and $1.20 per square foot.
Occupancy rates have reached 92.4 percent, with around 4,100 units absorbed over the past 12 months. Just 3,100 new units opened in the same period of time.
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Source: Triangle Business Journal