RALEIGH, N.C. (WNCN) – The search for apartments that fit the budget of an average worker in the Triangle is getting tougher and tougher.
The area has some of the state’s most expensive zip codes to rent in, according to Rent Café.
Developers are building more and more high-priced luxury apartments.
“There is a large demand for this product. If there wasn’t, there wouldn’t be a market for it,” said Jacob Rogers, director of Government Affairs for the Triangle Apartment Association.
Rent for some new one-bedroom apartments starts at around $1,500 a month.
Rogers says the buildings are filling up fast with high-earning professionals moving to the area.
Affordable housing advocates say high-earners aren’t the only ones that need housing.
“Those high income jobs come with jobs that support them. So there need to be more firefighters. There need to be more police. There need to be more teachers. There need to be more day care workers. There need to be just more people serving coffee in the retail space in the bottom of those buildings,” said Satana Deberry, executive director of the North Carolina Housing Coalition.
According to the North Carolina Housing Coalition, the average Wake County renter can’t afford much more than $750 a month.
The county’s Affordable Housing Steering Committee is working to come up with short and long-term solutions to address the increasing prices.
“This isn’t all on the developers. This isn’t all on the county. This isn’t all on the city. But it’s going to require all of us to sit at the table together to come up with solutions,” said Wake County Commissioner Jessica Holmes, chair of the Steering Committee.
Holmes says they want to preserve what current affordable housing they have, and start working with developers to make more.
“If the municipalities work together with market rate developers, our non-profit partners, we can make this area much more affordable as well,” said Jacob Rogers.
Deberry says the North Carolina Housing Coalition is working on the same thing.
“Land is only going to get more expensive. So, what we would need now is to be able to purchase land so that they can develop on it in the future,” she explained.
The Affordable Housing Steering Committee will present its suggestions to the Wake County Board of Commissioners in September.
If approved, some of their proposed solutions could start making a difference in just a couple months.