A new report by ApartmentList.com has ranked Charlotte as having America’s 10th fastest rental rate growth among large cities.
According to their data, rents in the Queen City have inched up 0.2% over the past month and 2.5% over the past 12 months, which is just a hair shy of our state average.
The state’s average was pumped up from Wilmington seeing a massive annual rate growth of 5.9%, in addition to High Point’s 5.1%, Cary’s 3.9%, and Durham’s 3.1%;
The report also notes that:
- Rents in Charlotte are up 2.5% over the past year, the #10 fastest growth rate among the nation’s large cities. For comparison, our national rent index grew by just 1.3% over the past year.
- Since 2014, rents in Charlotte have grown by 19.9%, outpacing the national average of 12.7%.
- The median rent for a 2BR apartment in Charlotte is currently $1,130 compared to the national average of $1,175.
You can read the full report here.
What do you think about Charlotte’s rental rates?