Charlotte Ranks #8 For The Fastest Year-Over-Year Rental Growth in America

1755 just released their November 2019 rental report, showing rents in Charlotte increasing at one of the fastest rates in the nation.

Currently, median rents in Charlotte stand at $989 for a one-bedroom apartment and $1,153 for a two-bedroom. This is the eleventh straight month that the city has seen rent increases after a decline in November of last year. Charlotte’s year-over-year rent growth leads the state average of 2.7%, as well as the national average of 1.4%.

In spite of Charlotte’s higher-than-average rental growth rate, the Queen City is still more affordable than most comparable cities across the country.

  • Charlotte’s median two-bedroom rent of $1,153 is slightly below the national average of $1,191. Nationwide, rents have grown by 1.4% over the past year compared to the 2.9% increase in Charlotte.
  • While Charlotte’s rents rose moderately over the past year, many cities nationwide also saw increases, including Phoenix (+4.0%), Dallas (+2.3%), and Atlanta (+1.8%).
  • Renters will find more reasonable prices in Charlotte than most similar cities. For example, San Francisco has a median 2BR rent of $3,123, which is more than two-and-a-half times the price in Charlotte.

What do you think about rental prices in Charlotte?