Charlotte’s rental market continued to cool in December, with median prices dropping again and marking the city’s second straight year of declining rents.
New data from Apartment List shows Charlotte’s overall median rent fell 1.1% last month to $1,366 and is now down 2.5% year-over-year — a sharper decline than both the state average (–1.9%) and national average (–1.3%).
One-bedroom units now average $1,242, while two-bedroom units average $1,354. Charlotte ranks as the 53rd most expensive large city in the U.S., placing it slightly above the national median. The city’s monthly decline also placed it near the bottom of the nation’s 100 largest markets for December.
Across the metro area, the median rent sits at $1,303, making Charlotte proper 4.8% more expensive than its surrounding suburbs. Rent trends vary widely: Gastonia saw the region’s fastest growth at 3.1%, while Huntersville remains the most expensive at $1,673. Kannapolis is the most affordable at $1,170.
After years of rapid increases — including a 19% surge in 2021 — Charlotte’s rental prices have now flattened or declined for three consecutive years. Analysts say the cooling trend is likely tied to rising inventory and stabilizing demand, with more new units coming online across the city in 2026.
