Jun
22

Real Data: Wilmington Apartment Vacancy at 4.6%

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real data LogoNew apartment development is booming in the Wilmington market. There are now more than 1,600 units under construction and another 1,600 units proposed, according to the latest report published by Real Data. Demand for apartments in Wilmington has been healthy over the last year.

The average vacancy rate is now 4.6%. Apartments that are one to five years in age have an average vacancy rate of 4.0%, which is good news for developers planning new apartments.

The average rent for an apartment in the Wilmington area has increased to $954 per month, as compared to $907 per month just one year ago.

Categories : Wilmington

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