Matrix Multifamily Raleigh Report-June 2024 June 25, 2024

Rents Contract in the Carolina Triangle

Raleigh-Durham’s advertised rents were down 0.1% on a T3 basis through April, to $1,548, with Yardi Matrix forecasting a 0.6% contraction for the year. Construction starts declined significantly, down 95 percent over the first four months of 2023.