Raleigh, Durham, Chapel Hill, North Carolina

MORE DATA ON FEATURED MARKET

Market Summary
The vacancy rate improved to 9.8% in July, a step up when compared to 10.4% one year ago. Strong demand and a low number of completions over the past two years have contributed to the improving vacancy rates. There were 2,090 units absorbed over the past twelve months and 1,729 units completed over the same time period.

There are currently 3,152 units under construction and an additional 3,201 units proposed in the Triangle. The Durham- South submarket continues to be the most active submarket with 716 units under construction.

The Raleigh market (Wake County) continues to outperform the rest of the market with a current vacancy rate of 8.4%, versus 14.4% in Chapel Hill and 11.3% in Durham. The Raleigh- Southwest submarket reported the lowest vacancy rate in the area at 6.6%, with Raleigh-Northwest not far behind at 6.9% currently.