MARKET SNAPSHOT

Wilmington q2 2026

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AVERAGE RENT

$1,525 Q2 2026

OCCUPANCY RATE

90.7% Q2 2026

NET ABSORPTION

3,228 T4Q

ANNUAL RENT CHANGE

2.4% Q2 2026

ANNUAL OCCUPANCY CHANGE

-65 BPS

UNIT COMPLETIONS

1,204 T4Q

KEY TAKEAWAYS

Demand continues to outpace supply, with trailing four-quarter absorption of 3,228 units nearly tripling the 1,204 units delivered, providing a strong foundation for market recovery as Q2 2026 absorption reached 665 units.

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The under-construction pipeline stands at 2,250 units (5.9% of inventory), and trailing 12-month starts of 2,040 units signal a secondary supply wave likely arriving by late 2027, even as current completions have sharply declined.

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Rents grew 2.4% year-over-year to $1,525 per unit with accelerating quarterly momentum at 3.1%, while stabilized occupancy of 90.7% reflects a 65 basis point annual decline amid wide submarket divergence.

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MARKET OUTLOOK

Wilmington's multifamily market is positioned at a pivotal point in its supply cycle. The delivery wave that defined 2024 and early 2025 has largely subsided, with trailing 12-month completions...

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