220,000 units within 13 years. That’s how many more apartments North Carolina needs to keep up with the demand, according to the Triangle Business Journal‘s story about the local rental market. The Greater Raleigh area, which includes Wake Forest and Rolesville, is one of the hottest apartment markets in the nation, so it’s no surprise to learn that this area is expected to see 69% more apartments by 2030.
More Demand Means Higher Rent Costs
If you’re looking for an apartment in the meantime, however, be prepared to pay more in rent. High demand and low supply are driving the price of monthly rent up, which means you might have to settle for either the price you want or the location you want.
Alternatives to Renting Expensive Apartments
Apartments tend to offer more affordable monthly payments, a low-maintenance unit, the freedom to move, and an excellent location near shopping and dining. Unfortunately, because many renters are looking for the exact same lifestyle, it can be hard to come by the perfect apartment.
Fortunately, the Wake Forest and Rolesville area offers plenty of homes that let you enjoy your own space while having all the benefits of apartment living. Here are a few options for living in the best location at the right price.
Opt for a Condominium or Townhome
Both condos and townhouses offer the lower-maintenance lifestyle you crave while also offering the amenities you’d expect to find in an apartment complex. Plus, some communities are just steps from shops, restaurants, and services in a downtown setting. Heritage at Wake Forest even offers townhouses right on the golf course!
Wake Forest and Rolesville have a few townhomes available for sale that offer this apartment-like lifestyle. Take a peek at the listings and let us know if you want to take a personal tour.
Buy a House in an Affordable Location
You might be surprised to learn it’s starting to cost more to rent an apartment in the Greater Raleigh area than it is to buy a home. If you’re eager to have more space for the same price, consider finding a home in Wake Forest, Rolesville, or somewhere in Franklin County. All three of these areas are up and coming, but they’re still relatively inexpensive to buy a home.
Not sure whether to rent an apartment or buy a house? Our Rent vs. Buy Guide can help you decide!
Choose One of These Convenient Neighborhoods
Like we said earlier, there are plenty of townhome communities just steps from shops and restaurants in Downtown Wake Forest. But if you’re craving a little more space, there are plenty of neighborhoods just around the corner from shopping centers and major highways:
- Cedar Lakes in Rolesville — 0.5 mile from Louisburg Road (about a 30-minute commute to Downtown Raleigh)
- Averette Ridge in Rolesville — 2.5 miles from Lowes Foods shopping center
- Shepards Point in Zebulon — 2.5 miles from US-264 (about a 30-minute commute to Downtown Raleigh)
Considering Buying a Home? Let’s Talk
If you’re considering buying a home in Wake Forest or Rolesville rather than dealing with skyrocketing rents, or if you want to know more about the local real estate market, contact us. We would be happy to provide you with helpful home buying tools and tips (including a monthly mortgage payments calculator).