Following a significant decrease in rental rates in 2023 and into 2024, rates steadily rose in Q2 and thoughtout Q3. Even with that slight increase, Raleigh remains one of the more affordable metro areas in the country with rental rates 10% below the national average. One reason for this trend toward higher rates in the last two quarters is because many of the large new home construction projects which increased supply and drove down prices in 2023 have been completed. With fewer new homes coming on market and given the explosive population growth of 20,000 new residents moving to the Raleigh metro area annually, rates are rising with increased competition for homes.

Apartment Options

The Reverie

• Studio/1ba
• Sq Ft: 509
• Rent: $1,392

Wakefield Glen Apartments

• 1bed/1ba
• Sq Ft: 1050
• Rent: $1,424

Cadence at Cates Creek

• 2bed/2ba
• Sq Ft: 1,103
• Rent: $1,520

Bexley At Heritage

• 3bed/2ba
• Sq Ft: 1,313
• Rent: $1,639