Raleigh renters are on the move.
Over 54% of Raleigh renters who looked for an apartment at the start of 2022 sought rental units in other cities, according to new data from Apartment List.
Between March 31 of last year and Jan. 1 of this year, Charlotte was the most-searched destination for Raleigh renters (who used Apartment List to search), with over 12% of searches. Durham and Charleston, South Carolina, were also top-searched destinations.
In the first few months of this year, 40% of Apartment List users searched a move to a different metropolitan area, and 27% of users searched in a different state altogether, the report states.
For the full report, visit apartmentlist.com.
People seeking to move to or leave Raleigh
Technology centers, such as Raleigh, are emerging as “revolving door” metros, Apartment List said. Out of the nation’s 50 largest metropolitan areas, Raleigh took top-three spots for places where Apartment List-searching renters were looking to move and places where renters were searching to leave.
▪ Raleigh was the third-highest city with renters in the area searching to relocate out of the city. Over 54% of Apartment List users (54.1%, to be exact) searched for rental units outside of Raleigh. Charlotte took the top spot with 54.6%, and San Jose took second place with 54.4%.
▪ Raleigh was also the second-highest city with renters searching to relocate into the city. Over 52% of Apartment List users (52.3%, to be exact) searched for rental units within Raleigh. San Jose took the no. 1 spot, with 52.5% of users seeking to relocate into the city from a different metro area.
High rent in Raleigh, Durham, Chapel Hill
The interactive map and table below shows how rent has changed in nearly every zip code in the Triangle from April 2021 to April 2022, according to data from RentHub.
Here are some takeaways:
▪ On this map, zip code 27607 is the Raleigh zip code that saw the largest percent increase in median rent — 32.16% higher. Median rent is $1,734.
▪ On this map, zip code 27513 (in Cary) saw the largest overall percent increase in median rent — 36.77% higher. Median rent is $1,778.
▪ On this map, zip code 27516 (in Chapel Hill) saw the largest overall percent decrease in median rent — 8.25% lower. Median rent is $1,445.
This story was originally published June 2, 2022 10:40 AM.
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