Welcome back to Triangle Trends. Today we’re talking about a record-breaking rise in downtown Durham rents. The new Novus apartment tower is asking rents that top out at an astonishing $8,700 a month for its penthouse unit. According to the Triangle Business Journal, the building’s studios start around $2,300, one-bedrooms run about $3,200, and two-bedrooms top out near $5,900. As the article puts it, “Downtown apartments rent for incredible $8,700 — in Durham!”

Developers say demand for luxury living has surged, noting that more than 40 percent of Novus units were leased before the building even opened. Leasing agents boast of high-end finishes, rooftop amenities and skyline views that rival larger markets. But some community leaders worry these sky-high rents could widen the city’s affordability gap.

Whether Novus marks a new era for Durham’s apartment market or an outlier in a growing luxury trend, it’s clear that downtown living is changing—and expensive. That’s our look at Durham’s most headline-grabbing rents. Thanks for listening to Triangle Trends.
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