Charlotte Ranks #6 for New Housing Units Permitted

As renters face a growing affordability crisis, it is critical that cities plan for new home construction that keep pace with population growth and housing demand.
In the latest report from Apartment List, our team reviews housing permit data from the census to identify when and where housing growth was strongest, and which markets today continue to underbuild despite the current shortage.
Highlights include:
  • Today’s high interest rate environment has slowed single-family home construction, but apartment construction remains strong. Today there are nearly 1 million apartments under construction across the nation, more than at any point since 1970. An additional 679,000 were permitted for construction in 2022, an increase of 9% compared to 2021.
  • In Charlotte metro specifically, 8,181 new apartments and 18,932 new single-family homes were permitted last year. On a per-capita basis, this ranks #6 out of the nation’s 50 largest metros.
  • 48% of these newly-permitted homes are set to be built in Charlotte proper, while the remainder will be located in outer-lying suburbs.

National commentary and detailed local data are both available in the full report here.