New data: While rents in Charlotte fall, suburbs are up 5%2020 has been a wild year for the rental market. A new report from Apartment List shows that while many large cities are getting cheaper, rents are actually rising in surrounding suburban communities.
Here’s how things are playing out locally in Charlotte metro:
Since January, rents in the city of Charlotte are down 1.6% while rents in nearby suburban areas are, on average, up 4.8%.
Of the 5 local suburbs for which we have data, every single one of them is experiencing higher rent growth than Charlotte.
The Charlotte suburbs with the fastest-growing rents are Gastonia (+8%) and Concord (+6%).
On a national level, Charlotte falls in the middle of most major markets, with New York and San Francisco seeing the biggest declines.
The full report compares urban and suburban rent growth in many major markets across the country.
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