Charleston’s apartment market posted strong leasing activity in the first half of 2025, with 2,319 units absorbed—slightly outpacing new supply. Q2 was a standout quarter, with nearly 1,400 units absorbed, well above both the 10-year Q2 average of 1,038 units and the pre-pandemic average of 811 units.
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Charleston’s construction pipeline has tightened considerably, with just 1,600 units underway—down from 6,500 a year ago. This sharp pullback follows one of the most active delivery periods in recent years, during which roughly 5,100 units were completed.
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Charleston posted its first annual rent decline since 2010 in Q2 2025, with average rents dipping 0.5% year-over-year despite solid absorption. Class B properties saw the sharpest pullback, with rents falling 1.7% to $1,816.
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MARKET OUTLOOK
Charleston’s multifamily sector is entering the second half of 2025 with improving fundamentals, despite some short-term softness...
