Skip to Main Content

Living


Downtown boasts 5,767 residential units recently delivered, under construction, or planned with 3,123 units completed since the start of 2015, 328 units under construction, and 2,316 units planned.

11,820
residents live in downtown1
3,123
units completed since the start of 20152
52%
increase in downtown residents since 20151
97.0%
combined occupancy rate of apartments in downtown3
93%
increase in the number of housing units in downtown since 20151
$1,669
average rent per month in downtown3
7,586
housing units in downtown1
$1.96
median rent per square foot of apartment properties in downtown3
1US Census, ESRI Business Analyst 2DRA 3Integra Realty Resources

An estimated 20,000 people live within one mile of the center of downtown, which is projected to grow to more than 23,000 within the next five years.

(Source: U.S. Census, ESRI Business Analyst)

Population Growth

Downtown Raleigh has already tripled the number of housing units since 2000 and is poised to have four times as many units if the current pipeline of residential projects is built out. Presently, downtown has an estimated 7,586 units and will have approximately 10,247 units within the next five years.

housing population chart

Source: US Census, ESRI Business Analyst, DRA

 

 

RENT  |  Downtown Multifamily Average Rent 2016-2020
 

Source: Integra Realty Resources

Median Rent Per Square Foot Among Peer Downtowns

Downtown Raleigh has a lower median apartment rent per square foot than several peer CBDs and remains just below rapidly growing peers Austin and Nashville. Compared to more established CBDs, Downtown Raleigh continues to have a significant affordability advantage with median rents nearly half that of San Francisco, Boston and Washington, DC.

Rent Chart

Source: RentHub-Kwelia

 


DOWNTOWN APARTMENT OCCUPANCY | 2019-2020


*Occupancy statistics do not include properties in lease-up phase. Source: Integra Realty Resources

Downtown Raleigh is keeping pace with the residential boom in other rapidly growing peer downtowns across the country with additional room to grow.

Residential Map


Complete


10ARROS

522 New Bern Ave

BLOUNT ST COMMONS

500 John Haywood Ln

CAMERON CREST

412 St. Mary's St

THE DEVON FOUR25

425 N Boylan St

THE DILLON

W Hargett at Harrington

EDISON APARTMENTS

131 E Davie St

ELAN CITY CENTER

501 N Wilmington St

FNB TOWER

500 Fayetteville St

THE GRAMERCY

401 Glenwood Ave

HARGETT PLACE

421 S East St

THE LINCOLN

408 E Hargett St

LINK APARTMENTS

207 N West St

THE L

205 W Davie St

METROPOLITAN APARTMENTS

314 W Jones St

PEACE (SMOKY HOLLOW PHASE I)

421 W Peace St

PEACE ST TOWNES

250 William Drummond Way

REVISN

615 N Boylan Ave

THE SAINT

216 St. Mary's St

SIR WALTER APARTMENTS (Renovation)

400 Fayetteville St

SKYHOUSE RALEIGH

308 S Blount St

THE TEN AT SOUTH PERSON

520 S Person St

THE WARE

400 Chavis Way

WEST + LENIOR PHASE II

501 W Lenoir St

WEST + LENOIR PHASE I

501 W Lenoir St

Under Construction


THE FAIRWEATHER

522 S Harrington St

SMOKY HOLLOW PHASE II

600 N West St

Planned


400 H

400 Hillsborough St

CITY VIEW TOWNES

409 W Lenoir St

FOURTH WARD

726 S Saunders St

THE LYNDE

601 W. South St

THE NEXUS PHASE II

215 S McDowell St

PEACE ST CONDOS (LOCK 7)

617 W Peace St

RALEIGH CROSSING PHASE II

301 Hillsborough St

SALISBURY SQUARE PHASE I

700 S Salisbury St

SALISBURY SQUARE PHASE II

700 S Salisbury St

SEABOARD STATION PHASE I

18 Seaboard Ave

SEABOARD STATION PHASE II

18 Seaboard Ave

WEST CABARRUS WAREHOUSES

518 W Cabarrus St