Developer looks to add even more apartments to bustling downtown Durham

Staff Writer |

THE NEWS & OBSERVER (MAY 2, 2019) – Last year, rents across the Triangle grew faster than the rest of the nation, The N&O previously reported. That surge came after two years of rents growing slower than the national average, according to apartment data company RealPage.

In 2018, rents for multifamily apartments in the Triangle grew by 3.8% to an average rent of $1,105 per month, according to RealPage. The national average was 3.3%.

That growth is likely to continue if the Triangle continues to see strong job growth going forward.

There could be some longer-term consequences as well as fewer rental developments are typically built when the economy sputters, so when things are a bit rosier, there may be fewer units available to fill demand.

Read more at: THE NEWS & OBSERVER.

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