MARKET SNAPSHOT

Charleston q3 2025

AVERAGE RENT

$1,787 Q3 2025

OCCUPANCY RATE

92.7% Q3 2025

NET ABSORPTION

3,983 YTD Q3 2025

ANNUAL RENT CHANGE

-0.9% Q3 2025

ANNUAL OCCUPANCY CHANGE

-10 BPS Q3 2025

UNIT COMPLETIONS

2,963 YTD Q3 2025

KEY TAKEAWAYS
Charleston has moved past the peak of its supply surge, with Q3 deliveries plunging 82% quarter over quarter and the construction pipeline now at its smallest level since 2010. This shift positions the market for firmer fundamentals and reduced competitive pressure through 2026.
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Net absorption remains well above long-term norms, supported by strong in-migration and household formation. Class A and B demand continues to drive leasing activity, signaling resilient renter interest even amid broader economic caution.
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While effective rents have posted two consecutive quarters of decline, easing concessions and a sharply reduced supply pipeline are expected to return rent growth to positive territory by early-2026.
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MARKET OUTLOOK

Charleston enters 2026 with the effects of its historic supply wave largely in the rearview mirror...

Featured Charleston Research Reports:

Alex Blagojevich

Alex Blagojevich

Executive Managing Director / Co-Founder
Michael-Sullivan

Michael Sullivan

Executive Managing Director / Co-Founder
Brett

Brett Meinzer

Managing Director
Kyle Shoemaker

Kyle Shoemaker

Managing Director
Simon Turner

Simon Turner

Senior Director
Bill Brading

Bill Brading

Senior Director
Thomas-Skevington-web

Thomas Skevington

Senior Advisor
Jake Sullivan_2023

Jake Sullivan

Senior Advisor

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