Matrix Multifamily Raleigh Report-February 2023 March 01, 2023

Raleigh's Q4 Blip

Raleigh-Durham's YOY rent growth remained above the U.S. average throughout 2022, but the economy had an impact in the fourth quarter. Rents contracted by 0.4 percent to $1,618, vs. a U.S. rate contraction of 0.2 percent to $1,715. While Lifestyle rents had the biggest impact, the Renter-by-Necessity segment experienced its first contraction since February 2020.