WILMINGTON -- The Wilmington area is seeing an apartment boom.

There is an increase in the number of people who are leasing, and realty advisors say the occupancy rate is close to 94 percent.

Some contractors say college students, families and retirees are taking advantage of new apartments because it offers them more mobility. In addition, the coast is seeing higher quality complexes being built with the average monthly rate set around $907 for the market.

The City of Wilmington says the new complexes are necessary to accommodate those who continue to move to the area.

"The best way to accommodate that is to increase density in appropriate areas and to utilize vacant and underused properties within the city,” said Dylan Lee with the City of Wilmington.

Realty advisors say more than 1,200 apartments are currently under construction in the Wilmington area. While 11 more complexes have been proposed for future development.