{"id":1024,"date":"2021-05-21T08:26:10","date_gmt":"2021-05-21T08:26:10","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=1024"},"modified":"2023-09-12T15:06:34","modified_gmt":"2023-09-12T15:06:34","slug":"charlotte-multifamily-market-report-spring-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-spring-2021\/","title":{"rendered":"Charlotte Multifamily Market Report &#8211; Spring 2021"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\">Queen City\u2019s Economy On the Mend <\/h4>\n\n\n\n<p>Following a short-term dip in the second quarter of 2020, Charlotte\u2019s economy is now on the right track to recovery due in part to its affordable lifestyle and attractiveness to companies fleeing high-density gateway cities. This trend has been supporting the multifamily market\u2019s fundamentals, with rents marking the third consecutive quarter of appreciation. Rates rose 0.3% on a trailing three-month basis through March, to $1,251.<\/p>\n\n\n\n<p>Known as a major banking hub, the Queen City continued to add jobs in the financial activities sector (2,100 positions) on a year-over-year basis, despite pandemic-induced turbulence. Moreover, mortgage lender InterContinental Capital intends to expand its presence in Charlotte and add 500 new employees, while California-based financial services firm Robinhood Markets is set to establish an office in Charlotte and create nearly 400 jobs.<\/p>\n\n\n\n<p>Investors continued to chase yields, with secondary markets such as Charlotte remaining an attractive option. Multifamily transaction activity continued to improve, with sales totaling $561 million in the first quarter, significantly above the $336 million recorded during the first three months of 2020. This trend prompted listing platform CommercialSearch to name Charlotte one of the hottest multifamily real estate markets in the U.S. Yardi Matrix expects the average Charlotte rent to rise 3.3% in 2021.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1252-MatrixMultifamilyCharlotteReport-Spring2021?utm_source=Matrix-Blog&amp;utm_medium=Social\" target=\"_blank\" rel=\"noreferrer noopener\">Matrix Multifamily Charlotte Report-Spring 2021<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Queen City\u2019s Economy On the Mend Following a short-term dip in the second quarter of 2020, Charlotte\u2019s economy is now on the right track to recovery due in part to its affordable lifestyle and attractiveness to companies fleeing high-density gateway cities. This trend has been supporting the multifamily market\u2019s fundamentals, with rents marking the third [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":1025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[448,221],"class_list":["post-1024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-charlotte","tag-multifamily-outlook-2021"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Charlotte Multifamily Market Report - Spring 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Charlotte has continued to be resilient, with rents improving for the third consecutive quarter. On a trailing three-month basis through March, rents rose 0.3% to an average of $1,251.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-spring-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Charlotte Multifamily Market Report - Spring 2021\" \/>\n<meta property=\"og:description\" content=\"Charlotte has continued to be resilient, with rents improving for the third consecutive quarter. On a trailing three-month basis through March, rents rose 0.3% to an average of $1,251.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-spring-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-21T08:26:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-12T15:06:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/05\/Charlotte-Matrix-Report-iStock-1208585820.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Laura Calugar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Charlotte Multifamily Market Report - Spring 2021 - Yardi Matrix Blog","description":"Charlotte has continued to be resilient, with rents improving for the third consecutive quarter. 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