Highlights from Just Released Real Data Report for Triad Apartment Market
April 20, 2016 at 3:35 pm Jon Lowder 1 comment
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.
Entry filed under: Benchmarks, Piedmont Triad Apartment Market, Rent Rate, Vacancy Rate. Tags: alamance apartment market, alamance apartment rent, greensboro apartment market, greensboro apartment rent, high point apartment market, high point apartment rent, piedmont triad apartment market, piedmont triad apartment rent rate, piedmont triad apartment vacancy rate, real data, real data piedmont triad apartment report, winston-salem apartment market, winston-salem apartment rent.
1. Highlights from Just Released Real Data Report for Triad Apartment Market | Greensboro 101 | April 20, 2016 at 4:00 pm
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