North Carolina Rent Growth Ranks Near the Top
Among the largest 50 apartment markets, several in North Carolina ranked among the leaders for annual rent growth in 3rd quarter 2019. Phoenix and Las Vegas remain the national frontrunners, with increases of 8.2% and 7.5%, respectively. Three of the next four markets on the list are in North Carolina. Both Greensboro/Winston-Salem and Raleigh/Durham logged year-over-year rent growth of 5.3% in 3rd quarter. Nashville and Charlotte logged price increases just shy of 5%, ranking in the #5 and #6 spots in the nation. Helping generate rent growth confidence in the past several years, North Carolina markets have produced significant employment gains and occupancy strength in the past few years.