Greensboro/Winston-Salem has recently demonstrated unusually solid demand, taking occupancy to an all-time high in 2nd quarter 2019 and encouraging operators to push rental rates notably ahead of market norms. Rent growth levels have averaged 3.7% annually over the past four years, well above the market’s decade average of 2%. In the year-ending 2nd quarter, price hikes here were at 4.6%, tying Riverside and Providence for the #7 increase among the nation’s top 50 markets. Even with better rent growth in recent years, monthly rents in Greensboro/Winston-Salem averaged just $851 in 2nd quarter 2019, making the market the most affordable among the 50 largest U.S. markets.
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