Demand momentum is strong — trailing 12-month absorption of 4,075 units outpaced 2,775 units delivered, pointing to a market that has absorbed its delivery wave and is finding firmer footing.
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The supply cycle is moderating: the under-construction pipeline has contracted to 2,565 units (3.4% of inventory), and trailing 12-month starts of 1,501 units point to manageable forward deliveries through 2027.
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Average effective rents of $1,798 per unit reflect 0.4% YoY growth and a 2.1% sequential rebound, with occupancy at 91.7% stabilizing as the absorption-to-delivery surplus provides pricing support.
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MARKET OUTLOOK
Charleston's near-term setup points to continued improvement as deliveries ease and absorption remains firmly positive. With renter demand...
