Charlotte Multifamily Market Snapshot — Q3 2019
The Charlotte multifamily market has been one of the top performers in 2019, with strong rent growth and record-high investment volume. The metro’s growing technology sector has also boosted the local economy and job market.
Charlotte had the third-highest multifamily rent growth in the country over the last 12 months, behind only Miami and Phoenix. According to Reis, the average asking rent finished the third quarter at $1,183/unit, up 6.5% year over year and significantly higher than the U.S. rate of 3.8%.
On the investment side, sales volume reached a record high of $2.8 billion in 2018, and is on pace to surpass that high in 2019.
Here’s a quick look at the the metro’s multifamily financing and investment benchmarks for Q3 2019.
For more insights on the metro’s multifamily market, read our Charlotte market spotlight.