Insights / Raleigh

Firm
Mixed
Condition and direction
Raleigh, NC · recomputed daily
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Raleigh, NC Multifamily Market Read | September 2026

Raleigh reads Firm and Mixed, so landlords have the edge. Asking rents are easing, down 0.4% over the past year (Zillow ZORI, monthly, latest Aug 2026). This brief lays out what the current data shows for Raleigh, grouped by how often each source updates.

Updated September 20, 2026

Asking rent YoY · monthly
-0.4%
Vacancy · 2024
4.9%
Jobs YoY · monthly
+2.2%

What is moving now (monthly)

Asking rents are easing, down 0.4% over the past year (Zillow ZORI, monthly, latest Aug 2026). Jobs are growing strongly, up 2.2% over the past year (BLS, monthly, latest Aug 2026).

The backdrop (yearly, US Census Bureau)

Vacancy was 4.9%, on the low side, a tight rental market, in the 2024 count (US Census Bureau). This is a yearly snapshot, not a monthly signal. New permitting was moderate, -0.6% in the 2025 count (US Census Bureau, building permits). A standing yearly figure, not a live signal. Net migration was positive at +12.5 per 1,000 residents in the 2025 count (US Census Bureau).

Rent context

The metro median rent, including utilities, was about $1,674 a month in the 2024 count (US Census Bureau).

What the data shows

Taken together, Raleigh is Firm and mixed: landlords have the edge. The monthly movers, asking rent and jobs, are the live part of the picture, while vacancy, permitting, and migration are yearly snapshots that set the backdrop. MetroSgnl reads the market from public data and shows every figure with its source and cadence. This is market information, not investment advice, and not a recommendation about any property.

Common questions about Raleigh · answered from the data, updated September 20, 2026

Is the Raleigh rental market tight or soft right now?

Raleigh reads Firm right now, so landlords have the edge.

Which way is the Raleigh market heading?

Raleigh is mixed right now, as asking rents ease over the past year (Zillow ZORI, monthly).

Is Raleigh a landlord's or a renter's market?

Raleigh is a landlord's market right now, because it reads Firm.

What is the vacancy rate in Raleigh?

Vacancy in Raleigh is 4.9% in the Jan 2024 count, a yearly snapshot rather than a live monthly signal (US Census Bureau).

How much have Raleigh rents changed?

Asking rents in Raleigh are down 0.4% over the past year (Zillow ZORI, monthly, latest Aug 2026).

Recent coverage

Daily, from the MetroSgnl news feed. Headlines only.

Raleigh Mayor and reelection candidate Janet Cowell answers questions about housing, safety, and affordabilityEnlace Latino NC
Raleigh-Durham multifamily market fundamentals improve as new supply slowsNorthmarq
Raleigh, Durham building boom fueled by new apartments — not single-family homesThe Business Journals
Greystar Sells Raleigh Apartment Community For $64MBisnow Raleigh/Durham
City of Raleigh 2026 Affordable Housing ForumRaleighNC.gov
Raleigh, N.C., to gain 269 luxury units in a mixed-use multifamily developmentBuilding Design + Construction
See all Raleigh news →

Data: Zillow ZORI, BLS, US Census Bureau, FRED, and the MetroSgnl news feed. Recomputed daily. Market information only, not investment advice.

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