Rocky Mount

Apartment rents in the Rocky Mount market rose at a 10.9% annual rate during the first quarter of 2023 and have posted an average yearly gain of 6.9% over the past three years. While 27 units have been delivered over the past three years (a cumulative inventory expansion of 0.9%), nothing is currently underway. Vacancies aligned with the 10-year average as of the 1st quarter of 2023. Still, they moved up slightly over the past four quarters.