The recent surge in new apartment construction has resulted in a decrease in rental rates since the summer of 2023. This downward trend has persisted over the past three months, affecting rental rates for all types of bedrooms. By early 2025, the market is expected to stabilize, with moderate rent increases projected. The ongoing development of new rental properties may shape future rent trends, potentially providing more options for renters and influencing pricing dynamics. Currently, the median rent in Raleigh, NC, is $1,444. This figure is 17% lower than the national average and represents a 2% increase compared to last year.

Apartment Options

Below are some recent listing examples.

The Reverie

• Studio/1ba
• Sq Ft: 509
• Rent: $1,342

Wakefield Glen Apartments

• 1bed/1ba
• Sq Ft: 1050
• Rent: $1,422

Cadence at Cates Creek

• 2bed/2ba
• Sq Ft: 1,103
• Rent: $1,710

Bexley At Heritage

• 3bed/2ba
• Sq Ft: 1,313
• Rent: $1,569

(Data sourced from Apartments.com)

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