Charlotte Multifamily Market Report – January 2025

Market Overview

Charlotte's multifamily market is absorbing new supply at a healthy pace, with more than 3,900 units leased in Q1 2025 and vacancy holding steady at 8.2%. Rents dipped slightly by 0.2% year-over-year, but the pace of decline has slowed, and demand appears to be rebounding. The city continues to benefit from strong in-migration and job growth, especially in the suburban submarkets where development activity is spreading. The key to recovery lies in keeping new starts muted to allow the current wave of deliveries to stabilize.

About Yardi Matrix

Yardi Matrix is the gold standard for institutional-grade real estate intelligence, offering property-level rent tracking, ownership data, and construction timelines across major and emerging U.S. metros. With dedicated research teams and continuously updated databases, Yardi delivers unmatched transparency into rent movement, lease trade-outs, and competitive supply. For a bifurcated market like Charlotte—where urban and suburban dynamics diverge—Yardi Matrix equips decision-makers with the depth and accuracy to fine-tune acquisition and development strategies.