Colliers Report: Greenville-Spartanburg Multifamily Market Q1 2026

Colliers | South Carolina Market Report

Slowing deliveries and high population growth are creating a conditions for a tight market.

Market Highlights

Greenville’s multifamily market has entered a steadier phase as deliveries slowed over the past two quarters and absorption kept pace, holding occupancy at 89.30%. The construction pipeline has moderated, but demand remains strong. The Greenville‑Anderson‑Greer population has grown 8.96% over the past five years – nearly triple the average U.S. metro rate.

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Key Takeaways

• Strong population growth in the Greenville-Anderson-Greer MSA, at 8.96%, continues to drive elevated demand for new multifamily product across the Greenville-Spartanburg market.
• Deliveries have slowed over the past two quarters, and absorption has aligned with new supply, keeping occupancy at 89.30%.
• The widening affordability gap between renting and owning bolsters renter demand.
• Submarkets along the I‑85 corridor are capturing a growing share of demand as households seek accessibility to employment centers.

About Colliers

Colliers | South Carolina is the largest full-service commercial real estate firm in South Carolina with an annual transaction volume of $1.5 billion. The firm has 225 real estate professionals covering the state with locations in Charleston, Columbia, Greenville and Spartanburg. Colliers is the largest manager of commercial real estate properties in South Carolina with a portfolio of over 31 million square feet of office, industrial, retail and healthcare properties. Colliers | South Carolina’s sister company, LCK, provides project management services across the Southeast and beyond with an annual project value of $1.3 billion. LCK helps clients maximize the value of their development projects while remaining on schedule and within budget. Colliers and LCK staff hold more professional designations than any other commercial real estate firm in South Carolina.

Colliers is a global diversified professional services and investment management company. Operating through three industry-leading platforms – Real Estate Services, Engineering and Investment Management – we have a proven business model, an enterprising culture and a unique partnership philosophy that drives growth and value creation. With $5.5 billion in annual revenues, a team of 24,000 professionals, and $108 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors, and people worldwide. Learn more at corporate.colliers.com, X @Colliers or LinkedIn