Market Report
Charlotte Multifamily Market Report
1Q 2026
Dynamics Diverge as Southern Areas Gain
Relief and Northern Corridor Faces Ongoing Pressure
Demographic tailwinds and moderating supply additions support positive outlook. Young adults moving to the market for job opportunities, especially in white-collar settings, will help sustain momentum in Charlotte’s apartment sector in 2026. Meanwhile, concession usage across the metro should be common, particularly in areas like the corridor from North Charlotte to Cornelius, where elevated construction activity has been evident over recent years. Vacancy here may edge higher in 2026, as anticipated deliveries outpace the 2025 total. In contrast, southern infill submarkets, including Uptown-South End and Southwest Charlotte, are entering a period of sharply reduced development following a prior surge, with both areas expecting about half of 2025’s additions. The combination of slowing construction and continued in-migration will support further vacancy compression and strengthen rent growth prospects in these neighborhoods. Longer term, the marketwide outlook is also favorable as construction starts in late 2025 fell to their lowest level since 2019.
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