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Market Report

Charlotte Multifamily Market Report

2025 Investment Forecast

Record White-Collar Employment Sparks Rental
Demand as Charlotte Sees Surge in New Units

Growing corporate hubs fuel need for apartments amid elevated deliveries. For the third-straight year, Charlotte will deliver over 12,000 new units. Developments are centered in South and Southwest Charlotte — areas expected to gain substantial numbers of new residents over the next five years due to their proximity to expanding office parks. Near the end of 2024, professional and business services positions hit a record-high total, with office-using roles comprising nearly 28 percent of the metro’s workforce. The metro overall draws a diverse influx of residents with an average rent almost $250 below the national average, as well as with abundant job opportunities. This widespread appeal fuels demand for Class B and C units, supporting minimal overall vacancy in the long run despite the surge in construction activity.
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