Supply and demand: Multi-family rental rates on the rise in Triangle despite new development
Thanks to an ever-growing population and a strong economy, the multi-family residential market in the Triangle has ballooned into one of the fastest-growing in the nation, according to a recent report by real estate firm Avison Young.
Rental rates continue to rise as developers work to deliver thousands of new units year after year, with 2019 seeing more than 7,000 units under development.
Still, supply struggles to keep up with demand.
The second quarter saw rent growth reach 4.9 percent…