APARTMENT NEWS

ARCHIVES 2009:

Charlotte's Apartment Vacancy Rate Grows, Rental Rates Fall - 040809
CRE News

Charlotte, N.C.'s apartment vacancy rate rose for the six-month period ending Feb. 28, to 11.8 percent from 9.1 percent,
according to Real Data. The research firm, which surveys the apartment market twice a year for the Charlotte Apartment
Association, also found that the average monthly rental rate dropped during that period, to $725/unit from $751/unit. It is
predicting that as the supply of apartments increases, the vacancy rate will hit the 12 to 13 percent mark, and hover there
throughout the year.

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