Nationally, rents have fallen for the 3rd straight month. A 1.0% price decline in November is the single largest monthly drop in the history of the index, which stretches back to 2017. The cooldown is widespread, as rents fell this month in 93 of the nation’s 100 largest cities.For the latest, you can read the full December Rental Report here, complete with median rent and price growth data through November 2022.
Some highlights for Charlotte include:
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Rents in Charlotte decreased 0.8% month-over-month in November, compared to a 1% decrease nationally.
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Year-over-year rent growth in Charlotte currently stands at 6.8%, compared to 21% at this time last year. Year-over-year growth in Charlotte ranks #22 fastest among the nation’s 100 largest cities. Rents in Charlotte are up by 25.4% since the start of the pandemic in March 2020.
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Median rents in Charlotte currently stand at $1335 for a 1-bedroom apartment and $1462 for a two-bedroom.
Check out the full report here, and for a complete look at national trends, read the national report here.