Rents in Charlotte Down 2.3% Since Start of Pandemic – November 2020 Rental Report

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As the COVID-19 pandemic and its ensuing economic fallout continue to overwhelm renters across the country, monthly rent estimates paint the picture of a protracted national slowdown and uneven recovery.
The national rent index is down 1.4% year-over-year, but there is tremendous regional variation beneath the surface. San Francisco and New York City continue to lead the nation in pandemic rent drops, while smaller markets like Boise and Colorado Springs are heating up.
Here are some highlights for Charlotte from this month’s Apartment List rental report:
  • Rents in Charlotte increased 0.1% month-over-month, and are down by 2.3% since the start of the pandemic in March.
  • Year-over-year rent growth in Charlotte currently stands at -2.2%, compared to 3.1% at this time last year.
  • Median rents in Charlotte currently stand at $1070 for a 1-bedroom apartment and $1196 for a two-bedroom.

Here’s how Charlotte faired to other major US cities:

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