Charlotte renters have it easier than in any peak rental season since 2023: 8 people compete for each vacant apartment — the fewest in three years — and apartments stay on the market for 42 days — the longest in that time.
Here’s exactly how the apartment search conditions have changed for renters in Charlotte, based on RentCafe’s latest Rental Competitiveness Report:
Charlotte, NC (54th among large markets, RCI: 69.0 ↓ from 71.8)
- 8 renters compete for each vacant apartment, down from 10 last summer and the fewest of any peak rental season since 2023.
- It takes 42 days for an apartment to fill, 2 days longer than last summer and the longest since 2023, giving renters more time to decide.
- 92.5% of rentals are occupied, down from 92.8% a year ago. In short, that means slightly more options to choose from.
- About 62.7% of renters chose to renew their lease rather than move, roughly on par with last year (62.5%).
- New apartments make up 1.37% of local stock, down from 2.30% last summer but still almost three times the national share (0.50%), which kept the market easy to search.
Charlotte now sits 4.9 points below the national RCI score of 73.9, meaning it’s less heated than the typical U.S. market.
Here’s the full report: https://www.rentcafe.com/blog/
