Charlotte, NC Multifamily Market Report | Colliers | Q1 2026

Market Overview

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Charlotte's multifamily market is working through the effects of a two-year supply surge, with occupancy holding at 88.4% and average monthly effective rent at $1,535 as 5,036 units were delivered in Q1 2026 against 2,940 absorbed. Year-over-year effective rent growth declined 2.0%, with rates compressed by concessions across most submarkets. Despite the near-term pressure, construction has steadily decelerated since peaking in 2023, with 21,274 units now under construction compared to 27,505 a year ago, and the pipeline is expected to continue thinning. On the demand side, Charlotte added more than 54,000 residents between July 2024 and July 2025, ranking fifth nationally for numerical population growth, and recorded the second-highest job growth in the nation in 2025, concentrated in white-collar sectors. Combined with a tight single-family housing market and ongoing home price appreciation, these fundamentals support a longer-term recovery as supply and demand realign.

‍About Colliers

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Colliers is a global real estate services and investment management firm operating across more than 60 countries. The firm offers comprehensive brokerage, capital markets, valuation, advisory, and research services. Their Q1 2026 Charlotte multifamily report tracks occupancy, rents, absorption, deliveries, and construction activity across 19 submarkets to help owners, developers, and investors assess market conditions and timing. To read the full report, click here.