Charlotte Rental Market Update – Q2 2025: Slower Leasing, Flat Rents, Co-Living Buzz

[Maranda Tucker]

HEY BP! thought I’d share a quick Q2 rental market update from what I’ve been seeing lately on the ground.

Vacancies are taking longer to fill right now. Homes that used to lease in under two weeks are now sitting for 3–4 weeks, sometimes longer. According to the MLS, the average days on market for rental listings in Charlotte is currently 75 days—which is wild compared to what we were seeing just a year or two ago. Renters have more options and they’re definitely being more selective.

Rent growth has also cooled. In many areas, rents are flat or slightly down, especially in B-class neighborhoods and outlying suburbs. We’re occasionally recommending slight price reductions to fill units faster. That said, higher-end homes in hot areas like South End, Dilworth, and NoDa are still moving pretty quickly at strong rates.

Investor activity is still there, but much more cautious. Most of the buyers I’m speaking with right now are out-of-state investors looking for long-term, cash-flowing rentals. The days of banking on rapid appreciation feel like they’re behind us for now.

One trend I’ve noticed gaining traction: co-living. I’ve had a noticeable increase in conversations around room-by-room leasing, shared housing models, and how to structure multi-tenant arrangements. It’s not widespread in Charlotte yet, but the interest is there—especially with housing affordability continuing to be a concern for renters.

Another thing to watch: new construction townhomes being marketed to investors. A lot of them look good on paper, but once you factor in HOA fees and lower durability finishes, they don't always pencil out. I'm also seeing more rentals linger on the market when they're priced based on outdated comps.

Curious what things look like in your market—are renters getting more selective? Are you seeing more investor interest or conversations around co-living?