Renters across the country are starting to see some relief as the typical late-summer slowdown in the rental market takes hold. Apartment List’s newest report shows nationwide rents fell in August, continuing a seasonal trend that experts expect will last through the end of the year.
Nationally, rents declined 0.2% last month, with economists predicting additional month-over-month drops for the next four to five months as moving activity eases. Year-over-year, rents are down 0.9%, the lowest level since December 2023. Seasonal declines are common, but this year’s slowdown appears sharper as demand softens compared to past years.
In Charlotte, the median rent now stands at $1,418, which is 2.1% lower than last year. That local decline outpaces the statewide average of -1.8% and the national average of -0.9%. However, rents in Charlotte are still climbing faster in 2025 than in 2024. From January to August, rents in the city rose 1.3%, compared to just 0.7% growth over the same period last year.
The Local Outlook:
- Rents in Charlotte fell 0.1% in August, compared to a 0.2% decrease nationwide.
- Year-over-year rent growth in Charlotte now stands at -2.1%, up from -3.3% one year ago.
- Today the median rent in Charlotte is $1,290 for a one-bedroom unit and $1,406 for a two-bedroom unit. And the citywide apartment vacancy rate stands at 9%, up 0.9 percentage points from this time last year.
For more national and local insights, check out the latest update in the full Charlotte Rent Report.
