{"id":5314,"date":"2022-12-20T12:02:19","date_gmt":"2022-12-20T12:02:19","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=5314"},"modified":"2023-09-13T04:45:11","modified_gmt":"2023-09-13T04:45:11","slug":"raleigh-multifamily-market-report-november-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/","title":{"rendered":"Raleigh Multifamily Market Report \u2013 November 2022"},"content":{"rendered":"

Triangle Multifamily Forges Ahead<\/h2>\n

This year started on a strong note<\/strong> <\/a>for Raleigh-Durham\u2019s multifamily market, but the cooling economy began to take effect in the second half of 2022. In the third quarter, rates contracted by 0.1% to $1,630<\/strong>, while national figures improved only marginally\u20140.2% to $1,718. However, at 10.8%, year-over-year rent development in the Triangle remained strong by historical standards.<\/p>\n

The Raleigh-Durham employment market expanded by 4.4% in the 12 months ending in July, adding 39,300 jobs. Growth was led by leisure and hospitality<\/strong> (13,400 positions), followed by professional and business services (12,800 jobs). The metro has experienced accelerated growth in the past few years. The downtown area alone has seen roughly $6.7 billion in projects completed, under construction or planned since 2015, according to a Downtown Raleigh Alliance report. Several infrastructure projects are underway to support the metro\u2019s long-term growth. GoTriangle leaders have proposed a 43-mile commuter rail line from Durham to either Garner or Clayton, with a planned launch in 2033. The $3.2 billion project is currently in the feasibility stage.<\/p>\n

Deliveries softened, with only 2,968 units coming online during the first three quarters of the year. Meanwhile, transaction activity maintained momentum<\/strong>, with $3.3 billion in multifamily assets changing hands. Per-unit prices surpassed the $250,000 mark for the first time ever, following a 22.2% annual increase<\/p>\n

Read the full Matrix Multifamily Raleigh Report-November 2022<\/strong><\/a><\/p>\n\n\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Triangle Multifamily Forges Ahead This year started on a strong note for Raleigh-Durham\u2019s multifamily market, but the cooling economy began to take effect in the second half of 2022. In the third quarter, rates contracted by 0.1% to $1,630, while national figures improved only marginally\u20140.2% to $1,718. However, at 10.8%, year-over-year rent development in the […]<\/p>\n","protected":false},"author":753,"featured_media":5315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[444,459],"class_list":["post-5314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2022","tag-raleigh"],"yoast_head":"\nRaleigh Multifamily Market Report \u2013 November 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Raleigh-Durham\u2019s multifamily market is showing signs of slowing performance, as rents contracted 0.1% on a T3 basis as of September, Yardi Matrix reports.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Raleigh Multifamily Market Report \u2013 November 2022\" \/>\n<meta property=\"og:description\" content=\"Raleigh-Durham\u2019s multifamily market is showing signs of slowing performance, as rents contracted 0.1% on a T3 basis as of September, Yardi Matrix reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-20T12:02:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T04:45:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Raleigh-iStock-1436911575.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Razvan Cimpean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Laura Calugar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Raleigh Multifamily Market Report \u2013 November 2022 - Yardi Matrix Blog","description":"Raleigh-Durham\u2019s multifamily market is showing signs of slowing performance, as rents contracted 0.1% on a T3 basis as of September, Yardi Matrix reports.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/","og_locale":"en_US","og_type":"article","og_title":"Raleigh Multifamily Market Report \u2013 November 2022","og_description":"Raleigh-Durham\u2019s multifamily market is showing signs of slowing performance, as rents contracted 0.1% on a T3 basis as of September, Yardi Matrix reports.","og_url":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-12-20T12:02:19+00:00","article_modified_time":"2023-09-13T04:45:11+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Raleigh-iStock-1436911575.jpg","type":"image\/jpeg"}],"author":"Razvan Cimpean","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Laura Calugar","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/"},"author":{"name":"Razvan Cimpean","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6"},"headline":"Raleigh Multifamily Market Report \u2013 November 2022","datePublished":"2022-12-20T12:02:19+00:00","dateModified":"2023-09-13T04:45:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/"},"wordCount":215,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Raleigh-iStock-1436911575.jpg","keywords":["Multifamily Outlook 2022","Raleigh"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/","url":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/","name":"Raleigh Multifamily Market Report \u2013 November 2022 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Raleigh-iStock-1436911575.jpg","datePublished":"2022-12-20T12:02:19+00:00","dateModified":"2023-09-13T04:45:11+00:00","description":"Raleigh-Durham\u2019s multifamily market is showing signs of slowing performance, as rents contracted 0.1% on a T3 basis as of September, Yardi Matrix reports.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Raleigh-iStock-1436911575.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Raleigh-iStock-1436911575.jpg","width":1200,"height":628,"caption":"Image by Wirestock\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Raleigh Multifamily Market Report \u2013 November 2022"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6","name":"Razvan Cimpean","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","caption":"Razvan Cimpean"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/12\/Raleigh-iStock-1436911575.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/5314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=5314"}],"version-history":[{"count":2,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/5314\/revisions"}],"predecessor-version":[{"id":5317,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/5314\/revisions\/5317"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/5315"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=5314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=5314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=5314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}