Cities across the country, have high prices for living in Lucrative Areas, including there F”Downtowns.
Raleigh ITB property has gone gangbusters the last 10 years.
lots of potential for space hacks and inflatable furniture
Mine was out on Davis Drive in Morrisville in 2005, in a market rate complex (Bexley Park), also $650. The same apartment rents for $1440 today. You might think “OMG RENT MORE THAN DOUBLED” but that’s an average annual increase of 4.5%, which is maybe a bit high but doesn’t seem insane.
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It is if your salary doesn’t increase by that much. Apartments are not for long-term living, because the landlord always wins big.
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That’s remarkably similar to what I had in Raleigh post college. 2/1 in Oakwood with no A/C, no dishwasher, no W/D. $600 /month. Was too stubborn to buy a window unit and couldn’t have been happier. Grounds you to spend time without A/C in the South.
After that I upgraded to one of the units above Hayes Barton Pharmacy (hence my username). $750 /month which was ludicrously well priced for the location and having a rooftop patio to hang out on. I adored that place.
Happy I graduated when I did as that first apartment is now demolished, and the rent on the second is well north of what I paid.
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I lived through a dorm at State with no AC, so what was the big deal? The apartment I’m talking about was at 10 Montgomery St. near Meredith. That was my bedroom on the corner behind the two blue adirondack chairs. The building has been significantly renovated since then!
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Ha, I knew a family that lived in those apartments I believe - or I may have been very drunk there once - but I know them well.
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So it appears that they’ve gone condo. Here is my exact one (renovated)
10 Montgomery St APT 5, Raleigh, NC 27607 | Zillow?
$400K! I paid $275/month rent total, not just my half.
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