Charlotte, NC Multifamily Market Report | MMG Real Estate Advisors | Q1 2026

Market Overview
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Charlotte's multifamily market progressively narrowed its supply-demand gap in Q1 2026, with average rent at $1,573 (down 2.4% year-over-year) and occupancy at 91.3%, down 90 basis points annually, even as trailing four-quarter absorption of 12,872 units fell only modestly short of the 14,284 units delivered, a gap that narrowed meaningfully from roughly 3,700 units a year earlier. The active construction pipeline of 17,170 units has contracted nearly 50% from its 2023 peak while annual starts are down 27% from a year ago, pointing to a materially thinner delivery environment by 2027. Average rents posted their first sequential gain in Q1 at 0.1% after two consecutive quarterly declines, with occupancy expected to stabilize starting in Q2 as the demand-supply gap continues to shrink. NOTE: The full report requires submitting contact information through a download form; the description above reflects publicly visible market snapshot data only.

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About MMG Real Estate Advisors

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MMG Real Estate Advisors is a multifamily investment sales and research firm tracking apartment market fundamentals across the Southeast, Midwest, and beyond. Their Q1 2026 Charlotte multifamily market snapshot tracks rent, occupancy, absorption, and supply trends to help owners and investors assess market timing. To read the full report, click here.