At the start of 2024, Charlotte emerged as the third most competitive rental market in the Southeast, with a score of 70 on the Rental Competitiveness Index (RCI).
To pinpoint the hottest renting spots at the start of this year, the group at RentCafe analyzed factors like vacancy duration, occupancy rates, number of renters competing for a vacant unit, lease renewal rates and share of new apartments. Using these metrics, we then calculated an RCI score to clearly rank the competitiveness of each market.
Here are the highlights for Charlotte, according to our latest competitivity report:
-
Six renters compete for each vacant unit in Charlotte, with apartments getting filled in 42 days.
-
The occupancy rate stands at 92.4%, with 59.4% of renters choosing to renew their leases in early 2024.
- The share of new apartments here accounts for 1.17% of the housing supply. That’s significantly above most American markets, which slightly hindered Charlotte’s ranking.
