Oct
17

Real Data: Charleston Apartment Vacancy at 5.2%

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The vacancy rate improved greatly over the past six months for the Charleston area according to Real Data. High demand for apartments in the area improved the vacancy to 5.2%. There were a record number of units absorbed over the past six months. The development boom continues in the Charleston area. The number of units under-construction remains high. There are approximately 3,700 units currently proposed, the majority of which are located in the West Ashley and James Island submarkets.

Rents increased to $903 per month over the past six months. Demand and rent growth are expected to remain strong over the next year.

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    Categories : Charleston

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