MARKET SNAPSHOT

Charlotte q3 2026

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AVERAGE RENT

$1,490 Q3 2026

OCCUPANCY RATE

92.2% Q3 2026

NET ABSORPTION

14,992 T4Q

ANNUAL RENT CHANGE

-3.6% Q3 2026

YoY OCCUPANCY CHANGE

20 BPS

UNIT COMPLETIONS

13,302 T4Q

KEY TAKEAWAYS
Leasing activity in Charlotte held up well this quarter, with annual absorptions up 25% from a year ago and now running slightly ahead of new completions, a meaningful shift for a market still absorbing one of the region’s largest delivery waves.
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Developers have pulled back sharply from the 2023 highs, cutting the pipeline nearly in half, yet Charlotte still carries more construction relative to its size than all but one other Southeast market, Miami, leaving more supply to work through than most peers.
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Occupancy improved modestly to 92.2%, while rent growth trends, though still well in negative territory, are expected to recover meaningfully into 2027 as the market’s heavy pipeline continues to recede.
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MARKET OUTLOOK

Despite the market’s much improved supply-demand balance, Charlotte will likely take longer to fully recover due to the sizable inventory still in the pipeline. The forecast shows occupancy continuing to ease slightly...

Featured North Carolina Research Reports:

Kyle Kennedy

Kyle Kennedy

Senior Director

kyle.kennedy@mmgrea.com

Alex Blagojevich

Alex Blagojevich

Executive Managing Director / Co-Founder

alex.blagojevich@mmgrea.com

Michael-Sullivan

Michael Sullivan

Executive Managing Director / Co-Founder

michael.sullivan@mmgrea.com

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