MARKET SNAPSHOT

Charlotte q3 2025

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AVERAGE RENT

$1,592 Q3 2025

OCCUPANCY RATE

92.0% Q3 2025

NET ABSORPTION

11,839 YTD Q3 2025

ANNUAL RENT CHANGE

-1.6% Q3 2025

ANNUAL OCCUPANCY CHANGE

+10 BPS Q3 2025

UNIT COMPLETIONS

12,367 YTD Q3 2025

KEY TAKEAWAYS

Demand is resilient as leasing was one of the strongest third quarters of the past decade, reflecting steady in-migration, household formation, and healthy traffic across most product types.

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The supply wave is cresting, and the construction pipeline has been shrinking for several quarters, setting the stage for more balanced conditions as new projects taper.

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Competition from recent completions is keeping overall average rents modestly lower yet occupancy is holding steady, with value-oriented Class C assets proving most durable.

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MARKET OUTLOOK

The Charlotte rental market’s near-term setup is one of gradual tightening. With the construction wave past its peak, quarterly deliveries are easing and the pipeline is shrinking, which should continue to narrow the gap between new supply and absorption...