From 2010 to 2012, the Carolinas were home to some of the hottest apartment markets in the country—both large and small—thanks to great demographics, solid job growth, strong apartment demand, and big rent growth. But the story line is beginning to change.
Raleigh/Durham’s apartment market underperformed on high expectations going into 2011 – especially for rent growth. But in the first half of 2012, the Triangle posted some very impressive numbers.
The Raleigh apartment market is performing very well right now and is offering quite attractive economic prospects and renter demographics, but investors should be aware that the growth pace probably is nearing its peak for the cycle.
Raleigh/Durham went into 2011 with some big expectations, and hadn’t lived up to it … until 3rd quarter, when revenues jumped 4.1 percent.
North Carolina’s Triangle area continues to see its apartment sector shine.
Everyone seems to like North Carolina’s Triangle area these days, and for good reason.