Rental website ApartmentList.com just released their March 2019 rental report, with good news for apartment developers and bad news for renters.
The report ranked Charlotte as having as having the 9th fastest growing rental rates in America among large cities;
Over the past month, rents in the Queen City have shown an increase of 0.2%, and 3.0% compared to the same time last year. Currently, median rents in Charlotte stand at $970 for a one-bedroom apartment and $1,130 for a two-bedroom. This is now the 4th straight month that we’ve seen rent increases after a decline in October of last year. Charlotte’s year-over-year rent growth leads the state average of 2.6%, as well as the national average of 0.9%.
Some additional highlights from the report include:
- Rents in Charlotte are up 3.0% over the past year compared to our national rent index growth of 0.9% over the past year.
- Since 2014, rents in Charlotte have grown by 20.3%, outpacing the national average of 13.0%.
- The median rent for a 2BR apartment in Charlotte is currently $1,128 compared to the national average of $1,174.
What are your thoughts on Charlotte’s rental prices?