Net absorption over the past four quarters has far outpaced the number of new completions during this period and demand has remained remarkably steady even amid broader economic uncertainty, a sign of durable, structurally supported renter demand across Charleston.
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The pipeline is contracting sharply, with starts down nearly 50% from a year ago and the under construction total well below its late-2023 cycle peak, positioning the market for a materially lighter delivery load through 2027 and 2028.
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Charleston's rent growth and occupancy both rank among the strongest in the Southeast this quarter, a broadly healthy showing that reflects the rental market's declining level of new competition and durable underlying demand.
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MARKET OUTLOOK
Charleston's multifamily market has reached a favorable inflection point in its supply cycle. The delivery wave that peaked in the prior year has largely subsided...
