New Report Ranks Charlotte and Matthews Among The Fastest Declining Rents in NC

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There’s something for everyone in North Carolina, as rent is decreasing all over the state.

According to a new report by Rent.com, in 2020, the average one-bedroom tenant can expect to pay around $1,145 per month, down 5.22 percent from $1,208 over the same period for the previous year. That’s a decrease of $63 a month.

The report uses a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets. Cities were excluded if they did not have an average of at least 20 units in our available inventory during that time period. The data contained herein does not constitute financial advice or a pricing guarantee for any apartment.

According to the report, these are the 10 cities in North Carolina where rent is decreasing the most are:

1.       Clayton

  • Average 1-BR rental price: $1,078
  • Rent change in the past year: -9.24 percent

2.       Morrisville

  • Rent change in the past year: -6.74 percent
  • Average 1-BR rental price: $1,065

3.       Chapel Hill

  • Rent change in the past year: -6.05 percent
  • Average 1-BR rental price: $1,127

4.       Asheville

  • Rent change in the past year: -5.75 percent
  • Average 1-BR rental price: $1,068

5.       Greenville

  • Rent change in the past year: -5.44 percent
  • Average 1-BR rental price: $774

6.       Durham

  • Rent change in the past year: -5.25 percent
  • Average 1-BR rental price: $1,178

7.       Mooresville

  • Rent change in the past year: -4.48 percent
  • Average 1-BR rental price: $1,062

8.       Raleigh

  • Rent change in the past year: -4.46 percent
  • Average 1-BR rental price: $1,199

9.       Charlotte

  • Rent change in the past year: -3.17 percent
  • Average 1-BR rental price: $1,342

10.     Matthews

  • Rent change in the past year: -1.97 percent
  • Average 1-BR rental price: $1,070

 

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