{"id":8531,"date":"2024-12-03T10:22:00","date_gmt":"2024-12-03T10:22:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8531"},"modified":"2025-03-18T12:33:04","modified_gmt":"2025-03-18T12:33:04","slug":"raleigh-multifamily-market-report-november-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2024\/","title":{"rendered":"Raleigh Multifamily Market Report \u2013 November 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/raleigh-multifamily-market-report\/\">Raleigh Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Raleigh\u2013Durham\u2019s Softening Figures<\/h2>\n<p>Raleigh\u2013Durham\u2019s multifamily market ended the third quarter with a modest performance. Average advertised asking rents remained negative, down 0.5% on a trailing three-month basis, to $1,540, some 50 basis points lower than the U.S. rate, as per the<a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>\u00a0national multifamily market report<\/strong><\/a>. The metro\u2019s average occupancy rate in stabilized properties saw contractions, as well, clocking in at 93.8% as of August, a 20-basis point decrease year-over-year, according to the latest Raleigh multifamily market report.<\/p>\n<p><iframe id=\"datawrapper-chart-oH5aU\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Raleigh - Durham vs. National Rent Growth \" src=\"https:\/\/datawrapper.dwcdn.net\/oH5aU\/1\/\" height=\"329\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>In the 12 months ending in July, the Triangle\u2019s employment market expanded 2.4%, the equivalent of 27,300 net jobs. Education and health services led gains, with 9,200 new jobs. The metro\u2019s unemployment rate stood at 3.8%, 50 basis points below the national figure, according to preliminary data from the Bureau of Labor Statistics. Gale Force Sports and Entertainment and developer Pacific Elm Properties are bringing a $1 billion project to Raleigh. The development, which is slated to begin construction in December 2025, will include shopping, dining and entertainment venues, as well as office and housing components.<\/p>\n<p><iframe id=\"datawrapper-chart-hgm8k\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Raleigh - Durham Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/hgm8k\/1\/\" height=\"417\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>With 7,639 units, or 4.0% of existing stock, delivered through September in Raleigh\u2013Durham, the metro is ahead of the nation by 190 basis points. Transaction activity remained modest, with $813 million in assets changing hands, well below the highs of 2021 and 2022, when transactions totaled $9.7 billion.<\/p>\n<p>Read the full Yardi Matrix Raleigh Multifamily Market Report: <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/6504-MatrixMultifamilyRaleighReport-November2024\">November 2024<\/a><\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>Raleigh\u2013Durham\u2019s Softening Figures Raleigh\u2013Durham\u2019s multifamily market ended the third quarter with a modest performance. Average advertised asking rents remained negative, down 0.5% on a trailing three-month basis, to $1,540, some 50 basis points lower than the U.S. rate, as per the\u00a0national multifamily market report. The metro\u2019s average occupancy rate in stabilized properties saw contractions, as [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[511,459],"class_list":["post-8531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2024","tag-raleigh"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Raleigh Multifamily Market Report \u2013 November 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Advertised asking rents in Raleigh-Durham were down 0.5 percent on a T3 basis, to $1,540, 50 bps below the national rate.\" \/>\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-2024\/\" \/>\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 2024\" \/>\n<meta property=\"og:description\" content=\"Advertised asking rents in Raleigh-Durham were down 0.5 percent on a T3 basis, to $1,540, 50 bps below the national rate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/raleigh-multifamily-market-report-november-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-03T10:22:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-18T12:33:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/07\/Raleigh-iStock-2178617481.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=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Madalina Pojoga\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Raleigh Multifamily Market Report \u2013 November 2024 - 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