{"id":6854,"date":"2023-09-11T20:02:00","date_gmt":"2023-09-11T20:02:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6854"},"modified":"2024-02-23T10:25:07","modified_gmt":"2024-02-23T10:25:07","slug":"charlotte-multifamily-market-report-aug-2023","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/","title":{"rendered":"Charlotte Multifamily Market Report \u2013 August 2023"},"content":{"rendered":"<h2>Rent Growth Improves, New Supply Solid<\/h2>\n<p>Charlotte\u2019s multifamily sector had a rough start to 2023, but rent growth rebounds have put the metro back <a href=\"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report-august-2023\/\"><strong>in line with national trends<\/strong><\/a>. Rent expansion on a T3 basis was 0.4%, on par with the U.S. Meanwhile, occupancy slid 90 basis points to 94.3%, while the national rate seems to have stabilized, at 95.0%, over the past few months.<\/p>\n<p><iframe id=\"datawrapper-chart-wsOTA\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Charlotte vs. National Rent Growth (Trailing 3 Months)\" src=\"https:\/\/datawrapper.dwcdn.net\/wsOTA\/1\/\" height=\"376\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>The metro\u2019s job market remained healthy, with all but one employment sectors recording gains. Some 35,600 jobs were added in 2023 through April, accounting for a 3.5% year-over-year gain. This rate was 50 basis points below the U.S. average. Following the national trend, the leisure and hospitality sector led in new jobs added (12,900), followed by education and health services, with 8,200 positions. Crescent Communities is continuing its development of the 1,400-acre, $6 billion master-planned River District project.<\/p>\n<p><iframe id=\"datawrapper-chart-C2iPz\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Charlotte Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/C2iPz\/1\/\" height=\"416\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Sales through the first two quarters of 2023 amounted to $700 million, as investment activity continued to slow. Developers started construction on 4,870 units in the first six months of the year. Deliveries also improved, with 15 developments coming online in the first half of 2023, nine of which were delivered in the second quarter. The year-to-date percentage of stock completions was 90 basis points above the national rate, accounting for 1.7% of existing multifamily stock.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/4226-MatrixMultifamilyCharlotteReport-August2023\"><strong>Matrix Multifamily Charlotte Report-August 2023<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rent Growth Improves, New Supply Solid Charlotte\u2019s multifamily sector had a rough start to 2023, but rent growth rebounds have put the metro back in line with national trends. Rent expansion on a T3 basis was 0.4%, on par with the U.S. Meanwhile, occupancy slid 90 basis points to 94.3%, while the national rate seems [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":6250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[448,475],"class_list":["post-6854","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-2023"],"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 \u2013 August 2023 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Charlotte rents rose 40 basis points on a T3 basis as of June, in line with national growth, after a slow start to the year, Yardi Matrix reports.\" \/>\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-aug-2023\/\" \/>\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 \u2013 August 2023\" \/>\n<meta property=\"og:description\" content=\"Charlotte rents rose 40 basis points on a T3 basis as of June, in line with national growth, after a slow start to the year, Yardi Matrix reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-11T20:02:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-23T10:25:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/09\/Charlotte-iStock-1386240164.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=\"Razvan Cimpean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anda Rosu\" \/>\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 \u2013 August 2023 - Yardi Matrix Blog","description":"Charlotte rents rose 40 basis points on a T3 basis as of June, in line with national growth, after a slow start to the year, Yardi Matrix reports.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/","og_locale":"en_US","og_type":"article","og_title":"Charlotte Multifamily Market Report \u2013 August 2023","og_description":"Charlotte rents rose 40 basis points on a T3 basis as of June, in line with national growth, after a slow start to the year, Yardi Matrix reports.","og_url":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2023-09-11T20:02:00+00:00","article_modified_time":"2024-02-23T10:25:07+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/09\/Charlotte-iStock-1386240164.jpg","type":"image\/jpeg"}],"author":"Razvan Cimpean","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anda Rosu","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/"},"author":{"name":"Razvan Cimpean","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6"},"headline":"Charlotte Multifamily Market Report \u2013 August 2023","datePublished":"2023-09-11T20:02:00+00:00","dateModified":"2024-02-23T10:25:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/"},"wordCount":216,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/09\/Charlotte-iStock-1386240164.jpg","keywords":["Charlotte","Multifamily Outlook 2023"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/","url":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/","name":"Charlotte Multifamily Market Report \u2013 August 2023 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/09\/Charlotte-iStock-1386240164.jpg","datePublished":"2023-09-11T20:02:00+00:00","dateModified":"2024-02-23T10:25:07+00:00","description":"Charlotte rents rose 40 basis points on a T3 basis as of June, in line with national growth, after a slow start to the year, Yardi Matrix reports.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/09\/Charlotte-iStock-1386240164.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/09\/Charlotte-iStock-1386240164.jpg","width":1200,"height":628,"caption":"Image by Tim Pruss\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/charlotte-multifamily-market-report-aug-2023\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Charlotte Multifamily Market Report \u2013 August 2023"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6","name":"Razvan Cimpean","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","caption":"Razvan Cimpean"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/09\/Charlotte-iStock-1386240164.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/6854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=6854"}],"version-history":[{"count":1,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/6854\/revisions"}],"predecessor-version":[{"id":6856,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/6854\/revisions\/6856"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/6250"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=6854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=6854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=6854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}