DigsDigest:
A RALtoday series where we profile local residents in search of the perfect digs.
Housing turns over quickly in the Triangle — which is why many people start looking for their new place months in advance. Our team knows all too well the challenges of finding a place last minute and we want to save you the stress.
If this is your first time reading a DigsDigest, here’s how it works: we’ll tell you a little bit about someone locally who is searching for a new home in RAL and we’ll play a little House Hunters-esque game. (In this case, Elizabeth and her fiancé are looking to move next fall + reached out to ask which neighborhood is best for their budget).
Next, we’ll show you three real apartments that are currently on the market and meet the indicated criteria. Finally — unlike on the real House Hunters — we’ll let you pick which home our readers should choose. Beats yelling at the TV when a couple picks the “wrong” place, right?
As we all know, the real estate market in Raleigh and around the Triangle can be quite a wild ride — our city is full of economic opportunity, new development, great restaurants, hip music venues + fun cultural events. (And it’s easy on the eyes.)
When it comes to apartments, there’s a slew of new developments, but it can sometimes be difficult to filter through the ones that are geared toward college students, plus increased demand on the downtown-adjacent inventory has definitely boosted market values over the past few years, so first, let’s look at some numbers:
🏡 Average rent as of January 2020: $1164
🔑 Average apartment size: 957 square feet
📈 Average market decrease over last year: 6.53%
That’s right: even though the year-over-year increase has consistently been around 5%, this year started off with decreased rental costs as new supply begins to level with local demand.
Next up, it’s time to meet our prospective buyers:
- Ages: early 20s (working young professionals)
- Budget: $1100 per month
- Location: Downtown or downtown adjacent
- Bedrooms needed: 1
- Bathrooms needed: 1
Here are their must-have amenities:
- Hardwood floors
- Natural light + windows
- Central heat and air
- Historic charm
Elizabeth and her fiancé are set on finding an apartment with character, close to downtown, with a patio + are hoping to do it within a budget of $1,100 per month. Can it be done? Here’s what we found out:
Apartment #1: Small but centrally located
📍Pullen Station | 211 Ashe Avenue
📐200 square feet
🛏️ Studio loft
🛁 1 bathrooms
💰 $825+
This complex features lofted studio apartments with vaulted ceilings, hardwood floors, and additional storage under the stairs. Located near Hillsborough Street, within walking distance of several local restaurants + equidistant to Cameron Village, Glenwood South, and downtown. View the complete listing here.
PROS: Close to everything + recently updated. Under budget.
CONS: Less square footage. 24-hour laundry on-site but not in units.
Apartment #2: Historic charm, light, and green space near downtown
📍Cameron Court | 804 W. Morgan Street
📐 600 square feet
🛏️ 1 bedroom
🛁 1 bathrooms
💰 $1100+
This historic property features original wood flooring in all units, windows in every room, central HVAC + a community park with fire pit, pavilion, and sundeck. The location is 15 minutes walking distance to downtown’s Warehouse District or Glenwood South. View the complete listing here.
PROS: Water, sewer, trash, and Wi-Fi included in rent. At budget.
CONS: Small kitchen and bathroom. Free laundry on-site but not in units.
Apartment #3: French Quarter feels two blocks from Moore Square
📍The Magnolia | 511 E. Martin Street
📐 700 square feet
🛏️ 1 bedrooms
🛁 1 bathrooms
💰 $1050+
This newly-renovated property is giving us major New Orleans vibes + features new plank flooring, central HVAC, bamboo countertops, and a European-style combination washer/dryer in every unit. View the complete listing here.
PROS: Five minutes walking distance to downtown restaurants, bars, etc. Within budget.
CONS: No patio or green space.
Alright, now that you’ve seen our readers’ choices — help them pick their dream home. You know what our buyers are looking for, so which apartment should they choose? Let us know using the poll below. ⬇️