Charlotte Apartment Vacancy Rate at 6.2%


real data LogoAccording to the latest issue of the Charlotte Apartment Report published by Real Data, the average vacancy rate for apartments in the Charlotte metro area is now 6.2%. Demand was healthy with more than 2,500 units absorbed in just the last six months. Same-unit rents continue to grow and the average rental rate is now $1,205 per month.

Charlotte continues to have one of the most active development pipelines in the country, with more than 13,000 units currently under construction and another 10,000 units proposed. The most active submarkets are East-1 and Southeast-1, where there are more than 2,000 units under construction in each. The average vacancy rate in East-1 is currently 7.0%, while the average vacancy rate in Southeast-1 is 10.7%.

The average vacancy rate will approach 7.0%, while rents increase around 3.5% over the same time period.

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