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North Carolina
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VACANCY
Apartment
The average Vacancy Rate was 5.0% in the Charlotte metro
- Vacancy in the Charlotte metro drifted downward by 40 basis points.
- The Charlotte metro had the lowest vacancy level since Q1 2018.
- Vacancy is expected to finish 2022 at 4.6% in the Charlotte metro.
Distribution / Warehousing
The average Vacancy Rate was 5.2% in the Charlotte metro
- Vacancy in the Charlotte metro has been in decline for eight consecutive quarters.
- The Charlotte metro had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 5.0% in the Charlotte metro.
Flex / R&D
The average Vacancy Rate was 11.8% in the Charlotte metro
- Vacancy in the Charlotte metro increased by 160 basis points.
- Vacancy is expected to finish 2022 at 9.4% in the Charlotte metro.
Office
The average Vacancy Rate was 18.5% in the Charlotte metro
- Vacancy in the Charlotte metro declined by 70 basis points.
- Vacancy is expected to finish 2022 at 18.5% in the Charlotte metro.
Retail
The average Vacancy Rate was 9.5% in the Charlotte metro
- Vacancy in the Charlotte metro drifted downward by 10 basis points.
- The Charlotte metro had the lowest vacancy level since Q3 2019.
- Vacancy is expected to finish 2022 at 9.7% in the Charlotte metro.
RENT
Apartment
The average Asking Rent was $1,427 in the Charlotte metro
- Rent in the Charlotte metro was up 2.1% from year-end 2021.
- Rent Has risen for six consecutive quarters in the Charlotte metro.
- Rent is expected to finish 2022 at $1,475 in the Charlotte metro.
Distribution / Warehousing
The average Asking Rent was $5.38 in the Charlotte metro
- Rent in the Charlotte metro was up 1.5% from year-end 2021.
- Rent Has risen for seven consecutive quarters in the Charlotte metro.
- Rent is expected to finish 2022 at $5.53 in the Charlotte metro.
Flex / R&D
The average Asking Rent was $8.94 in the Charlotte metro
- Rent in the Charlotte metro was up 1.2% from year-end 2021.
- Rent Has risen for six consecutive quarters in the Charlotte metro.
- Rent is expected to finish 2022 at $9.19 in the Charlotte metro.
Office
The average Asking Rent was $28.79 in the Charlotte metro
- Rent in the Charlotte metro was up 0.7% from year-end 2021.
- Rent has risen in every quarter since Q3 2013 in the Charlotte metro.
- Rent is expected to finish 2022 at $28.98 in the Charlotte metro.
Retail
The average Asking Rent was $19.92 in the Charlotte metro
- Rent in the Charlotte metro was up 0.2% from year-end 2021.
- Rent is expected to finish 2022 at $20.01 in the Charlotte metro.
VACANCY
Apartment
The average Vacancy Rate was 4.7% in the Greensboro/Winston-Salem metro
- Vacancy in the Greensboro/Winston-Salem metro drifted downward by 30 basis points.
- The Greensboro/Winston-Salem metro had the lowest vacancy level since Q3 2019.
- Vacancy is expected to finish 2022 at 4.5% in the Greensboro/Winston-Salem metro.
Distribution / Warehousing
The average Vacancy Rate was 7.2% in the Greensboro/Winston-Salem metro
- Vacancy in the Greensboro/Winston-Salem metro rose by 50 basis points.
- Vacancy is expected to finish 2022 at 6.3% in the Greensboro/Winston-Salem metro.
Office
The average Vacancy Rate was 21.1% in the Greensboro/Winston-Salem metro
- Vacancy in the Greensboro/Winston-Salem metro drifted downward by 20 basis points.
- Vacancy is expected to finish 2022 at 20.5% in the Greensboro/Winston-Salem metro.
Retail
The average Vacancy Rate was 10.3% in the Greensboro/Winston-Salem metro
- No vacancy change since year-end 2021 in the Greensboro/Winston-Salem metro.
- Vacancy is expected to finish 2022 at 10.1% in the Greensboro/Winston-Salem metro.
RENT
Apartment
The average Asking Rent was $1,080 in the Greensboro/Winston-Salem metro
- Rent in the Greensboro/Winston-Salem metro was up 2.6% from year-end 2021.
- Rent Has risen for six consecutive quarters in the Greensboro/Winston-Salem metro.
- Rent is expected to finish 2022 at $1,119 in the Greensboro/Winston-Salem metro.
Distribution / Warehousing
The average Asking Rent was $5.20 in the Greensboro/Winston-Salem metro
- Rent in the Greensboro/Winston-Salem metro was up 1.2% from year-end 2021.
- Rent Has risen for six consecutive quarters in the Greensboro/Winston-Salem metro.
- Rent is expected to finish 2022 at $5.32 in the Greensboro/Winston-Salem metro.
Office
The average Asking Rent was $17.26 in the Greensboro/Winston-Salem metro
- The Greensboro/Winston-Salem metro remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $17.27 in the Greensboro/Winston-Salem metro.
Retail
The average Asking Rent was $15.50 in the Greensboro/Winston-Salem metro
- Rent in the Greensboro/Winston-Salem metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $15.56 in the Greensboro/Winston-Salem metro.
VACANCY
Apartment
The average Vacancy Rate was 5.5% in the Greenville metro
- Vacancy in the Greenville metro drifted downward by 30 basis points.
- The Greenville metro had the lowest vacancy level since Q3 2019.
- Vacancy is expected to finish 2022 at 5.1% in the Greenville metro.
Distribution / Warehousing
The average Vacancy Rate was 5.4% in the Greenville metro
- Vacancy in the Greenville metro fell by 230 basis points.
- The Greenville metro had the lowest vacancy level since Q1 2017.
- Vacancy is expected to finish 2022 at 5.4% in the Greenville metro.
Office
The average Vacancy Rate was 21.2% in the Greenville metro
- Vacancy in the Greenville metro rose by 60 basis points.
- The Greenville metro had the highest vacancy level since year-end 2005.
- Vacancy is expected to finish 2022 at 20.7% in the Greenville metro.
Retail
The average Vacancy Rate was 11.7% in the Greenville metro
- Vacancy in the Greenville metro drifted downward by 10 basis points.
- The Greenville metro had the lowest vacancy level since Q1 2020.
- Vacancy is expected to finish 2022 at 12.0% in the Greenville metro.
RENT
Apartment
The average Asking Rent was $1,108 in the Greenville metro
- Rent in the Greenville metro was up 1.6% from year-end 2021.
- Rent Has risen for six consecutive quarters in the Greenville metro.
- Rent is expected to finish 2022 at $1,139 in the Greenville metro.
Distribution / Warehousing
The average Asking Rent was $4.36 in the Greenville metro
- Rent in the Greenville metro was up 1.9% from year-end 2021.
- Greenville metro had its fastest rent rate of increase since Q1 2017.
- Rent is expected to finish 2022 at $4.47 in the Greenville metro.
Office
The average Asking Rent was $19.23 in the Greenville metro
- Rent in the Greenville metro was down 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $19.26 in the Greenville metro.
Retail
The average Asking Rent was $12.63 in the Greenville metro
- Rent in the Greenville metro was up 0.2% from year-end 2021.
- Rent is expected to finish 2022 at $12.67 in the Greenville metro.
VACANCY
Apartment
The average Vacancy Rate was 3.0% in the Knoxville metro
- The Knoxville metro had the second lowest vacancy in the nation, behind only Central New Jersey.
- Vacancy in the Knoxville metro drifted upward by 10 basis points.
- Vacancy is expected to finish 2022 at 3.3% in the Knoxville metro.
Distribution / Warehousing
The average Vacancy Rate was 4.5% in the Knoxville metro
- Vacancy in the Knoxville metro drifted upward by 30 basis points.
- Vacancy is expected to finish 2022 at 4.6% in the Knoxville metro.
Office
The average Vacancy Rate was 18.0% in the Knoxville metro
- Vacancy in the Knoxville metro fell by 50 basis points.
- Vacancy is expected to finish 2022 at 17.4% in the Knoxville metro.
Retail
The average Vacancy Rate was 12.0% in the Knoxville metro
- Vacancy in the Knoxville metro drifted downward by 10 basis points.
- The Knoxville metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2022 at 12.2% in the Knoxville metro.
RENT
Apartment
The average Asking Rent was $940 in the Knoxville metro
- Rent in the Knoxville metro was up 4.6% from year-end 2021.
- Knoxville metro had its fastest rent rate of increase since Q3 1999.
- Rent Has risen for seven consecutive quarters in the Knoxville metro.
Distribution / Warehousing
The average Asking Rent was $4.45 in the Knoxville metro
- Rent in the Knoxville metro was up 1.4% from year-end 2021.
- Knoxville metro had its fastest rent rate of increase since Q1 2017.
- Rent is expected to finish 2022 at $4.54 in the Knoxville metro.
Office
The average Asking Rent was $17.42 in the Knoxville metro
- Rent in the Knoxville metro was up 0.5% from year-end 2021.
- Rent is expected to finish 2022 at $17.30 in the Knoxville metro.
Retail
The average Asking Rent was $15.28 in the Knoxville metro
- Rent in the Knoxville metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $15.33 in the Knoxville metro.
VACANCY
Apartment
The average Vacancy Rate was 3.2% in the Norfolk/Hampton Roads metro
- The Norfolk/Hampton Roads metro had the fifth lowest vacancy in the nation and the sixth lowest in the South Atlantic.
- Vacancy in the Norfolk/Hampton Roads metro drifted downward by 20 basis points.
- The Norfolk/Hampton Roads metro had the lowest vacancy level since Q2 2003.
Distribution / Warehousing
The average Vacancy Rate was 4.1% in the Norfolk/Hampton Roads metro
- Vacancy in the Norfolk/Hampton Roads metro declined by 60 basis points.
- The Norfolk/Hampton Roads metro had the lowest vacancy level since Q1 2017.
- Vacancy is expected to finish 2022 at 4.1% in the Norfolk/Hampton Roads metro.
Office
The average Vacancy Rate was 16.3% in the Norfolk/Hampton Roads metro
- Vacancy in the Norfolk/Hampton Roads metro drifted upward by 10 basis points.
- The Norfolk/Hampton Roads metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 16.8% in the Norfolk/Hampton Roads metro.
Retail
The average Vacancy Rate was 13.0% in the Norfolk/Hampton Roads metro
- Vacancy in the Norfolk/Hampton Roads metro drifted upward by 20 basis points.
- The Norfolk/Hampton Roads metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2022 at 12.7% in the Norfolk/Hampton Roads metro.
RENT
Apartment
The average Asking Rent was $1,297 in the Norfolk/Hampton Roads metro
- Rent in the Norfolk/Hampton Roads metro was up 1.7% from year-end 2021.
- Rent has risen in every quarter since Q1 2015 in the Norfolk/Hampton Roads metro.
- Rent is expected to finish 2022 at $1,334 in the Norfolk/Hampton Roads metro.
Distribution / Warehousing
The average Asking Rent was $6.68 in the Norfolk/Hampton Roads metro
- Rent in the Norfolk/Hampton Roads metro was up 1.1% from year-end 2021.
- Rent is expected to finish 2022 at $6.78 in the Norfolk/Hampton Roads metro.
Office
The average Asking Rent was $20.49 in the Norfolk/Hampton Roads metro
- Rent in the Norfolk/Hampton Roads metro was up 0.3% from year-end 2021.
- Rent is expected to finish 2022 at $20.42 in the Norfolk/Hampton Roads metro.
Retail
The average Asking Rent was $16.30 in the Norfolk/Hampton Roads metro
- Rent in the Norfolk/Hampton Roads metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $16.30 in the Norfolk/Hampton Roads metro.
VACANCY
Apartment
The average Vacancy Rate was 4.7% in the Raleigh-Durham metro
- Vacancy in the Raleigh-Durham metro drifted downward by 20 basis points.
- The Raleigh-Durham metro had the lowest vacancy level since Q2 2017.
- Vacancy is expected to finish 2022 at 4.9% in the Raleigh-Durham metro.
Distribution / Warehousing
The average Vacancy Rate was 5.7% in the Raleigh-Durham metro
- Vacancy in the Raleigh-Durham metro declined by 70 basis points.
- The Raleigh-Durham metro had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 5.2% in the Raleigh-Durham metro.
Flex / R&D
The average Vacancy Rate was 6.0% in the Raleigh-Durham metro
- Vacancy in the Raleigh-Durham metro drifted upward by 20 basis points.
- Vacancy is expected to finish 2022 at 5.5% in the Raleigh-Durham metro.
Office
The average Vacancy Rate was 17.2% in the Raleigh-Durham metro
- Vacancy in the Raleigh-Durham metro increased by 100 basis points.
- The Raleigh-Durham metro had the highest vacancy level since Q1 2005.
- Vacancy is expected to finish 2022 at 16.1% in the Raleigh-Durham metro.
Retail
The average Vacancy Rate was 7.6% in the Raleigh-Durham metro
- The Raleigh-Durham metro had the tenth lowest vacancy in the nation and the eleventh lowest in the South Atlantic.
- Vacancy in the Raleigh-Durham metro drifted upward by 20 basis points.
- The Raleigh-Durham metro had the highest vacancy level since Q3 2018.
RENT
Apartment
The average Asking Rent was $1,410 in the Raleigh-Durham metro
- Rent in the Raleigh-Durham metro was up 2.6% from year-end 2021.
- Rent is expected to finish 2022 at $1,440 in the Raleigh-Durham metro.
Distribution / Warehousing
The average Asking Rent was $6.07 in the Raleigh-Durham metro
- Rent in the Raleigh-Durham metro was up 1.7% from year-end 2021.
- Rent Has risen for seven consecutive quarters in the Raleigh-Durham metro.
- Rent is expected to finish 2022 at $6.26 in the Raleigh-Durham metro.
Flex / R&D
The average Asking Rent was $12.11 in the Raleigh-Durham metro
- Rent in the Raleigh-Durham metro was up 1.8% from year-end 2021.
- Raleigh-Durham metro had its fastest rent rate of increase since Q3 2009.
- Rent Has risen for nine consecutive quarters in the Raleigh-Durham metro.
Office
The average Asking Rent was $25.27 in the Raleigh-Durham metro
- Rent in the Raleigh-Durham metro was up 0.5% from year-end 2021.
- Rent has risen in every quarter since Q3 2013 in the Raleigh-Durham metro.
- Rent is expected to finish 2022 at $25.31 in the Raleigh-Durham metro.
Retail
The average Asking Rent was $20.18 in the Raleigh-Durham metro
- Rent in the Raleigh-Durham metro was up 0.4% from year-end 2021.
- Rent is expected to finish 2022 at $20.24 in the Raleigh-Durham metro.
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