Over the past year, many current and new residents of major cities in the Triangle and Charlotte have experienced an increase in living costs.
The increase in population and job opportunities have been raising the demand for apartment units. Despite the number of newly constructed or in-progress complexes, rent has increased 5 percent in the Triangle and 7 percent in Charlotte, which is higher than the moderate growth of 3 percent.
The Triangle alone has opened 5,278 apartments, with 4,234 in construction. Experts believe these markets will continue to see growth and remain strong regions for investors.
– Leah Brown, S&A Communications