Wilmington Apartment Vacancy at 8.3%


In the last two years, nearly 1,000 new apartments have been built in Wilmington. Construction is currently underway on almost 500 additional units and there are nearly 700 more units planned, according to the latest report published by Real Data.

The average occupancy rate for apartment communities in the Wilmington area is now 91.7%, but had fallen to as low as 88% in 2009. Strong demand for apartments is expected to continue as confidence in the for-sale housing market remains low. The average rent for an apartment in the Wilmington area is now $800 per month, as compared to $669 per month in 2009.

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    Categories : Wilmington

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