Charlotte Multifamily Metro Outlook Q2 2024
From Fannie Mae Report Q2 2024
From Fannie Mae Report Q2 2023
Charlotte's multifamily housing market experienced a surge in rent growth and declining vacancies in 2021 and 2022, but this trend is easing. Modest rent increases and a slight uptick in vacancies are projected. Pre-pandemic, Charlotte's rental market was already slowing due to a surge in new supply. While slower growth is anticipated compared to the last two decades, Charlotte's economy remains relatively strong.
Population and job growth continue, particularly in the 25-34-year-old demographic, which positively impacts long-term housing demand. Although job concentration in the financial industry could create volatility, overall job growth is projected to outpace the national average. Development activity for both multifamily units and single-family homes is brisk.
