Affordable housing in Chapel Hill? (Raleigh: low income, apartments, rentals)

[no kudzu]

Chapel Hill 2009

Average rental 1 bedroom apartment was $738
Average house sold for $371, 431

Thought you would find this interesting.

[CHTransplant]

Would be interesting to see how those numbers compare to other local cites. Both were somewhat lower than I would have expected.

[no kudzu]

yeah me too. Especially the home sales.

[North_Raleigh_Guy]

Are you saying an average home price of $371,431 is "affordable"?

I think the apt rental rate is likely skewed by college type rentals that are not typically occupied by those outside that age group.

[toot68]

Originally Posted by North_Raleigh_Guy

Are you saying an average home price of $371,431 is "affordable"?

I think the apt rental rate is likely skewed by college type rentals that are not typically occupied by those outside that age group.

You'd be surprised. While there's certainly some upscale rentals in chapel hill, there's a lot of reasonably priced rentals occupied by folks in their mid 20s-30s (ie...grad students, post docs, residents, teachers) and by low income families. While undergrads dominate the rental market, they might not make up a majority of the market.

[no kudzu]

Originally Posted by North_Raleigh_Guy

Are you saying an average home price of $371,431 is "affordable"?

No--- that is why I put ? at the end of my title of this thread.

[Gatornation]

What's the point? Rentals are reasonable because there are many apartments due to students. Housing is high because there is not much of it and the demand is very high.