APARTMENTS BRIGHT SPOT ON LANDSCAPE
Source: Real Data
As has been the case for several years, strong apartment demand is being fueled by the weak for-sale housing market, Real Data?sCharles Dalton tells us. As a consequence, nearly 5,000 apartments were absorbed in the past year, and the average occupancy rate is now nearly 93%. New development has rebounded. More than 1,100 units are now under construction and developers have future plans for more than 7,000 units throughout the Charlotte MSA. Average rents are about $780 per month.