Currently, the overall median rent in the city stands at $1,378, roughly the same as last month. Prices are now down 2.6% year-over-year. Read on to learn more about what’s been happening in the Charlotte rental market and how it compares to trends throughout the broader Charlotte metro area and the nation as a whole.
Charlotte rents are flat month-over-month and down 2.6% year-over-year. The median rent in Charlotte fell by 0.2% over the course of September, and has now decreased by a total of 2.6% over the past 12 months. Charlotte’s rent growth over the past year has has fallen behind both the state (-1.3%) and national averages (-0.4%).
Nationwide rent growth was -0.1% in September, kicking off the winter slow season and closing the book on what was a bit of a resurgent summer for the rental market. Rent growth was consistently stronger this year compared to 2025, driven by rapid rent growth in a small handful of red-hot markets plus a steady re-balancing across much of the rest of the country. Year-over-year rent growth (nationwide) bottomed out at -1.6% back in April, but has risen to just -0.4% today. Our vacancy index shows a similar trend, having dipped again to 7.0%, its lowest level since last May.
The Local Outlook:
Below are some local highlights from this month’s report:
- Rents in Charlotte fell 0.2% in September, compared to a 0.1% decrease nationwide.
- Year-over-year rent growth in Charlotte now stands at -2.6%, down from -1.8% one year ago.
- Today the median rent in Charlotte is $1,253 for a one-bedroom unit and $1,366 for a two-bedroom unit. And the citywide apartment vacancy rate stands at 9.4%, up 0.3 percentage points from this time last year.
For more national and local insights, check out the latest update to our Charlotte Rent Report.
