Rent growth is slowing down for the season, a welcome sign for apartment hunters who have battled rapid price increases throughout the pandemic. The national median rent decreased by 0.2% in September, the first monthly decline since last December. In fact, rents are down this month in 69 of the nation’s 100 largest cities, albeit modestly.
For the latest data, see Apartment List’s October Rent Report, complete with median rent and price growth data through the end of September 2022.
Some highlights for the Charlotte market:
Rents in Charlotte decreased 0.7% month-over-month in September, compared to a 0.2% decrease nationally. Month-over-month growth in Charlotte ranks #68 among the nation’s 100 largest cities.
Year-over-year rent growth in Charlotte currently stands at 10.4%, compared to 19.3% at this time last year. Year-over-year growth in Charlotte ranks #19 among the nation’s 100 largest cities. Rents in Charlotte are up by 27.9% since the start of the pandemic in March 2020.
Median rents in Charlotte currently stand at $1361 for a 1-bedroom apartment and $1491 for a two-bedroom.
Check out the full report here, and for a complete look at national trends, read our national report.