Apartment List just released their latest monthly rent report, revealing that prices are continuing to rebound, with our national index up by 1.9% month-over-month. This is the biggest monthly jump in our national index since the start of our estimates in 2017, breaking a record set just last month. Rent growth has now been outpacing prior-year averages for several months, indicating that this year’s moving season is set to be a historically busy one.
The data continues to show significant regional variation, but the days of plummeting rents in pricey coastal markets have come to an end. The cities with the sharpest year-over-year rent declines are now experiencing positive rent growth again, and in some cases, prices are rapidly rebounding.
Rents in Charlotte increased 2.3% month-over-month, compared to 1.9% nationally. Month-over-month growth in Charlotte ranks #24 among the nation’s 100 largest cities.
Year-over-year rent growth in Charlotte currently stands at 3.2%, compared to 0.9% at this time last year.
Median rents in Charlotte currently stand at $1117 for a 1-bedroom apartment and $1248 for a two-bedroom.