Multifamily Market Overview Q1 2025 Raleigh, NC

Market Overview

Raleigh’s multifamily sector continued to show strength in Q1 2025, buoyed by sustained job growth in life sciences, tech, and higher education. Average occupancy remained near 94%, with Class A product in suburban submarkets like Cary and Morrisville seeing especially strong absorption. Developers remain active, but most new supply is concentrated around Research Triangle Park and downtown, allowing outer-ring submarkets to stabilize. With major employers like SAS, Cisco, and UNC Health expanding their footprint, renter demand remains well-supported.

About Lee & Associates

Lee & Associates is a national commercial real estate firm that blends local brokerage expertise with strategic insights. Their Raleigh office is well-versed in regional trends and offers timely multifamily reports that focus on leasing velocity, construction hot spots, and submarket dynamics. With a broker-led research model, Lee’s updates are rooted in real-time deal flow and field intelligence.

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