Market Snapshot | Charleston Q2 2025

Market Overview

Charleston’s multifamily market posted strong leasing activity in the first half of 2025, with net absorption reaching 2,319 units—slightly exceeding the 2,232 completions over the same period. Q2 absorption stood out at nearly 1,400 units, well above both the 10-year and pre-pandemic Q2 averages. Despite solid demand, average rent slipped 0.7% year-over-year to $1,804, marking the first annual decline since 2010. Occupancy dipped 80 basis points to 92.5%, while the construction pipeline tightened considerably—just 1,600 units remain underway, down from 6,500 a year ago.

About MMG

MMG Real Estate Advisors delivers multifamily market intelligence and capital strategy insights across major U.S. metros. Their reports synthesize rental trends, occupancy data, absorption, and development activity with local context to help investors, owners, and developers navigate dynamic market conditions.