MARKET SNAPSHOT

Wilmington Q3 2026

AVERAGE RENT

$1,542 Q3 2026

OCCUPANCY RATE

92.4% Q3 2026

NET ABSORPTION

2,793 T4Q

ANNUAL RENT CHANGE

3.4% Q3 2026

YoY OCCUPANCY CHANGE

10 BPS

UNIT COMPLETIONS

1,537 T4Q

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KEY TAKEAWAYS
Annual absorption of 2,793 units has run nearly twice the pace of the 1,537 units delivered over the past year, keeping demand firmly ahead of new supply.
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Effective rents rose 3.4% year over year to $1,542, the strongest annual gain since 2022, with five of six submarkets posting increases.
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Occupancy climbed 70 basis points in the third quarter to 92.4%, its highest level since 2023, as the pipeline sits 77% below its late-2023 peak.
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MARKET OUTLOOK

Rent growth has become Wilmington’s standout story. Effective rents have climbed 3.4% over the past year, the strongest pace since 2022 and the fastest among its Carolinas peers...

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To gain further insights into the Wilmington market,
contact our local team:

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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