Nationwide rents fell another 0.5% in September, accelerating the late-year rent declines that typically hit the rental market at this time of year. Year-over-year rent growth has stabilized at -1.2%, similar to last month. The slow season is spreading across the country, as 85 of the nation’s 100 largest markets saw rents fall in September.Some highlights from Apartment List’s latest report include:
-
Charlotte rental rates fell 0.6% in September, compared to a 0.5% decrease nationwide.
-
Year-over-year rent growth in Charlotte now stands at -2.4%, down from +9.8% one year ago. Since the start of the COVID-19 pandemic in March 2020, citywide rents have risen a total of 24.1%.
-
Today the median rent in Charlotte is $1,322 for a one-bedroom unit and $1,448 for a two-bedroom unit. And the citywide apartment vacancy rate stands at 7.1%, up 1 percentage points from this time last year.
For the complete set of data, see Charlotte’s full October Rent Report here.
