Market Snapshot Charlotte Q1 2025

Market Overview

Charlotte has emerged as one of the most active multifamily markets in the Southeast, with 4,424 units delivered and nearly 13,000 more under construction as of Q1 2025. Despite this, the market saw strong absorption of nearly 4,000 units—well above the ten-year average. While rents declined modestly (-0.2% YoY), the recent leasing strength suggests that occupancy pressure is stabilizing and that the worst of the rent softness may be behind the market if starts remain limited through the year.

About MMG

MMG Real Estate Advisors brings a localized, hands-on perspective to multifamily market reporting. Their reports are known for incorporating active deal flow, transactional sentiment, and real-time feedback from brokers and operators. In markets like Charlotte—which spans both North and South Carolina and includes a wide mix of submarkets—MMG’s market intelligence helps decode where capital is flowing, what’s moving the needle in underwriting, and how fundamentals are playing out across asset classes and neighborhoods.