Charleston’s Apartment Occupancy Up to 93%


According to Real Data, a  regional apartment real estate research firm, strong apartment demand over the past six months allowed the occupancy rate to climb to 93%.

Developers continue to show strong interest in apartment development within the Charleston area. There are nearly 1,550 units currently under-construction and approximately 4,700 units proposed for development. The Mt. Pleasant and West Ashley submarkets are the most active areas for development.

The current rent is $853 on average per month. The occupancy rate will likely remain level over the next year as renters absorb new supply expected to come online. Modest rent growth is forecasted throughout 2013.

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    Categories : Charleston

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