property
Build-to-Rent Communities Give Raleigh Renters New Flexibility, Premium Amenities
New communities target renters priced out of ownership while delivering services that standard apartments rarely match.
How we reported this
Build-to-rent projects now under construction along Glenwood Avenue and near Brier Creek Parkway allow tenants to sign 12-month leases for single-family homes with included lawn care and smart-home systems starting at $2,450 a month.
The shift matters because Wake County home prices reached a median of $478,000 in June 2026, up 6 percent from the prior year, while mortgage rates hover above 6.8 percent and push monthly ownership costs past $3,100 for a comparable three-bedroom property.
Local projects target specific corridors
One 184-home community called The Grove at Brier Creek opened its first phase in April and sits two miles from the RDU airport and the new Amazon distribution facility on Lumley Road. Another 92-unit project by the same developer is planned for the former site of the Cameron Village shopping center on Clark Avenue, where city planners approved rezoning last December.
Tenants at The Grove receive access to a resident app that schedules HVAC filter changes and coordinates with the on-site property manager, features listed in the lease addendum dated March 2026. The Raleigh Housing Authority has referred 14 voucher holders to the Brier Creek site under a new pilot that covers security deposits up to $1,500.
Cost comparison shows clear gap
A three-bedroom build-to-rent home at The Grove carries a $2,450 monthly rent plus a $75 amenity fee, according to the July 2026 rent roll. The same size home purchased at current rates would require a 20 percent down payment of $95,600 and produce a $3,180 mortgage payment after taxes and insurance, data from the Wake County Register of Deeds shows.
Residents report that the bundled services reduce out-of-pocket expenses for maintenance that often exceed $400 a year in older rental houses in the Five Points neighborhood. City records indicate 312 new build-to-rent units received certificates of occupancy in the first half of 2026, nearly double the total for all of 2024.
Prospective tenants can review floor plans and current availability through the city’s online permitting portal or by visiting the leasing office at 8501 Brier Creek Parkway before the next phase opens in September.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.