Oct
22

Real Data: Triad Apartment Vacancy at 6.7%

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real data LogoAccording to the latest report published by Real Data, the average vacancy rate for apartments in the Triad has improved to 6.7% in the last six months. Over the last two years the vacancy rate has remained below 7% in this market, despite an uptick in new construction. The development pipeline remains active with more than 3,000 units under construction and another 3,000 units proposed. Alamance County is the most active submarket with more than 800 units under construction.

The vacancy rate in Alamance County is currently 5.4%, but will likely rise as new supply enters the market. Apartments in the Triad now rent for $760 per month on average. The Guilford-Central submarket, which includes downtown Greensboro, has the highest average rent at $1,079 per month.

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