Wake County Multifamily Buyer
Sell Your Commercial Property In Wake County, NC
Wake County holds Raleigh, Cary, Apex, and Wake Forest and draws on state government, NC State University, and the nearby Research Triangle Park. Apartments here range from downtown mid-rises to newer suburban garden communities built for tech and healthcare workers.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Cities We Cover: Raleigh–Durham · Apex · Wake Forest · Fuquay-Varina · Garner · Holly Springs — County seat: Raleigh
Wake County
Where We Buy In Wake County
We evaluate apartment buildings of 5+ units across Wake County — in each city below, plus smaller towns and unincorporated areas countywide.
Local Market Data
Wake County Apartment Market
Figures gathered October 2026 from public market data.
If you plan to sell commercial property in Wake County, NC, start with the size of the renter base. Wake County holds 165,106 renter households, a 35.9% share of 460,175 occupied homes, per the Census Bureau's 2020-2024 American Community Survey. Raleigh alone accounts for 100,202 of those renter households, and Morrisville's renter share tops 54%.
Apartment buildings carry a growing share of that demand. Some 118,831 Wake County housing units, 24.0% of the stock, sit in buildings with five or more units, up 21.1% from the 2015-2019 survey. Median gross rent reached $1,623, a 41.1% gain over the same span. Rental vacancy sits at 8.9%, and rents and renter shares still shift sharply from one Wake County city to the next.
A county of 1.18 million people
Wake County grew 10.2% to 1,178,653 residents between the 2015-2019 and 2020-2024 Census surveys, adding 109,574 people.20,642 more renter households
Renter households in Wake County rose 14.3%, from 144,464 to 165,106, outpacing the county's 10.2% population growth.A fast-growing apartment stock
Units in buildings of five or more units in Wake County grew 21.1%, adding 20,706 units since the 2015-2019 survey.Who rents in Wake County
Renters head 165,106 of the 460,175 occupied households in Wake County, a 35.9% share in the 2020-2024 ACS. Owners hold the larger group, with 295,069 households.
Raleigh carries most of that renter base. The city counts 100,202 renter households, about 60.7% of the Wake County total, and 35.0% of its housing stock sits in 5+ unit buildings. Morrisville runs the highest renter share in Wake County at 54.6%, while Holly Springs sits lowest at 19.4%. Cary adds 23,271 renter households, the second-largest pool in Wake County after Raleigh.
Rents, growth and affordability
Wake County's median gross rent climbed 41.1%, from $1,150 to $1,623, between the 2015-2019 and 2020-2024 surveys. Population grew far more slowly over the same span, up 10.2% to 1,178,653 residents, an increase of 109,574 people.
Renter households in Wake County rose 14.3%, adding 20,642 households over the same five-year comparison. Units in 5+ unit buildings grew 21.1%, an increase of 20,706 units, which helped push Wake County's rental vacancy rate to 8.9%.
Rent burden runs high across Wake County: 48.3% of renters paid 30% or more of income on gross rent in the 2020-2024 ACS. HUD's FY2027 two-bedroom Fair Market Rent for the Raleigh-Cary area is $1,689, effective October 1, 2026, which runs $66 above the county's median gross rent.
Wake County's $1,623 median gross rent now runs close to the broader Raleigh-Cary metro figure of $1,573, a sign that county-level pricing has converged with the wider metro over this five-year stretch. Employment in Wake County grew 11.2% to 628,413 workers, a pace below the county's rent growth.
City-by-city comparison
| City | Median gross rent | Renter share | Share of units in 5+ buildings | Rental vacancy |
|---|---|---|---|---|
| Raleigh | $1,572 | 49.3% | 35.0% | 8.6% |
| Cary | $1,738 | 33.4% | 24.1% | 10.1% |
| Apex | $1,902 | 23.5% | 13.8% | 11.9% |
| Wake Forest | $1,596 | 26.0% | 15.5% | 6.1% |
| Fuquay-Varina | $1,720 | 25.8% | 12.8% | 9.5% |
| Garner | $1,549 | 36.8% | 24.6% | 9.0% |
| Holly Springs | $2,021 | 19.4% | 9.7% | 11.1% |
| Morrisville | $1,858 | 54.6% | 39.6% | 12.9% |
Rents inside Wake County range from $1,549 in Garner to $2,021 in Holly Springs. Renter share runs widest in Morrisville, at 54.6%, and narrowest in Holly Springs, at 19.4%.
Vacancy also varies sharply across Wake County cities. Wake Forest posts 6.1%, the tightest rate in the table, while Morrisville runs 12.9%. Apex and Holly Springs both top 11% vacancy. Fuquay-Varina and Garner sit in the middle of the Wake County range, near 9% to 9.5%.
Property taxes and assessment in Wake County
Wake County assesses real property, including apartment buildings, at 100% of market value under N.C. Gen. Stat. Section 105-286. The county must conduct a general reappraisal at least once every eight years, and some North Carolina counties reappraise more often than that octennial minimum.
North Carolina also levies a statewide real estate excise tax of $1 per $500 of sale price, a 0.2% rate, on deeds transferring Wake County property, under N.C. Gen. Stat. Section 105-228.30. Pull Wake County's current reappraised value for your parcel before you price a sale, since North Carolina sets no cap on how much a reappraisal can raise an apartment building's assessed value.
Wake County does not publish a single blended apartment tax rate in the fact file behind this report, since city, school and special-district rates stack on top of the county's own rate depending on the parcel. Confirm the current combined rate with Wake County Tax Administration before you finalize a sale price.
What this means if you sell in Wake County
When you sell commercial property in Wake County, NC, you sell into a deep and growing renter pool. Renters hold 35.9% of households, and 24.0% of units sit in 5+ unit buildings, up 21.1% from five years earlier. An 8.9% rental vacancy rate is the counterweight buyers will test against your rent roll and any concessions.
Rent control is not a factor in Wake County. North Carolina preempts local rent-control ordinances, so owners set rents by lease terms and market conditions alone. A Morrisville building in a 54.6%-renter market draws a different buyer than a Holly Springs property where owners dominate.
As a multifamily buyer in Wake County, we review 5+ unit buildings from Raleigh to Wake Forest as they stand today. Send a current rent roll, a T-12 and your latest tax statement, and we will price the building on those numbers.
Local Knowledge
Selling Multifamily In North Carolina
What we factor into every Wake County offer:
More about North Carolina →- Pull Wake County's current reappraised value; North Carolina sets no cap on assessment increases for apartment buildings.
- Rental vacancy in Wake County runs 8.9%, so show trailing occupancy history alongside your rent roll.
- North Carolina caps security deposits at 1.5 to 2 months' rent, with accounting due within 30 days of move-out.
- North Carolina preempts local rent control, so Wake County rents are set by lease terms and market conditions.
Property Tax
Property Tax In Wake County For Apartment Owners
Homeowners in Wake County pay a median of $3,260 a year in property tax on a median home value of $461,300, an effective rate of about 0.71%, according to the Census Bureau’s 2020-2024 American Community Survey. That is about the same as the North Carolina statewide average of 0.66%.
How property tax works in North Carolina: classes, assessment and appeals →Estimate a building’s tax bill with the property tax calculator →
- Those figures describe owner-occupied homes. An apartment building can be assessed on a different basis or in a different class, so its bill as a share of value may differ.
- A sale can reset the assessed value. Before you price a Wake County building, check how North Carolina reassesses property after a transfer and model the buyer’s new tax bill.
- Pull the actual tax bill from the Wake County assessor or tax collector. City, school and special-district levies stack on top of the county rate.
Seller Guides
Selling A Building In Wake County
Learn More
Taxes & Rules For Wake County Property
The North Carolina rules that shape any deal in Wake County: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Our Buy Box
What We Buy In Wake County
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
How Selling To Us Works
- 01
Submit The Deal
Send the address, unit count, asking price, and a rent roll or T-12 if you have them.
- 02
Initial Review
We review it against our buy box and give clear feedback — typically within 48 hours.
- 03
Underwriting & LOI
If it fits, we underwrite in detail and submit a written letter of intent.
- 04
Diligence & Close
Inspections and financing on the agreed timeline, then a professional, predictable closing.
Wake County Seller FAQ
What should I check on taxes before I sell commercial property in Wake County, NC?
Wake County assesses apartment buildings at 100% of market value under N.C. Gen. Stat. Section 105-286, with a reappraisal at least once every eight years. North Carolina also charges a 0.2% statewide real estate excise tax on the sale. Confirm your parcel's latest reappraised value before you set a price.
How high is rental vacancy in Wake County?
Rental vacancy in Wake County was 8.9% in the Census Bureau's 2020-2024 American Community Survey. Within the county, Wake Forest sat at 6.1% while Morrisville reached 12.9%. Buyers typically weigh a specific building's occupancy history against those local Wake County rates before underwriting a purchase.
How much have rents risen in Wake County?
Median gross rent in Wake County rose from $1,150 in the 2015-2019 survey to $1,623 in 2020-2024, a 41.1% gain. Population grew only 10.2% over the same period. HUD's FY2027 two-bedroom Fair Market Rent for the Raleigh-Cary area is $1,689.
Does Wake County have rent control?
No. North Carolina state law preempts local rent-control ordinances, so no city or county, including Wake County, may cap rent increases. Wake County owners and buyers set rents by lease terms and market conditions, which shapes how multifamily buyers underwrite properties from Raleigh to Apex.
How do I sell commercial property in Wake County, NC?
Send the address, unit count, and any financials. We review Wake County apartment buildings of 5+ units, give feedback typically within 48 hours, and follow with a written letter of intent if it fits.
Do you buy apartment buildings throughout Wake County?
Yes. We evaluate multifamily properties across Wake County, including Raleigh–Durham, Apex, Wake Forest, Fuquay-Varina, Garner, Holly Springs, Morrisville, Raleigh, and Cary, as well as smaller towns and unincorporated areas. Every property is reviewed on its own fundamentals.
What size Wake County properties do you buy?
Apartment buildings and income-producing residential properties with 5 or more units. Our sweet spot is 15–25 units, and we review larger communities with capital partners.
Will you buy a property that needs work or has high vacancy?
Yes. We underwrite value-add, mismanaged, and distressed properties as they are today — no repairs or lease-up required before selling.
Is it possible to sell rental property in Wake County without evicting tenants?
It is. We buy apartment buildings occupied, and tenants stay on their current leases. Skyline Capital Investments is a commercial real estate buyer of 5+ unit buildings, so occupied properties are the norm for us.
How fast can I sell my apartment building in Wake County?
Most owners get clear feedback within 48 hours of sending the address, unit count, and a rent roll. Closing is typically set around your timeline, including extra time for a 1031 exchange.
How do property taxes factor into a Wake County offer?
Property is assessed at the county level (the county seat is Raleigh), within North Carolina rules. North Carolina counties reappraise on cycles of up to eight years. We check when your county last reappraised and model the tax bill accordingly.
Submit A Deal
Have A Property In Wake County?
Tell us about it. Owners, agents, brokers, and deal finders are all welcome — conversations are confidential.
