The team over at Apartment List just published their May Rent Report, complete with median rent and price growth data through April 2022.
Highlights for Charlotte-area rental rates include:
Rents in Charlotte increased 1.1% month-over-month in April, compared to a 0.9% increase nationally. Month-over-month growth in Charlotte ranks #48 among the nation’s 100 largest cities.
Year-over-year rent growth in Charlotte currently stands at 18%, compared to 3.5% at this time last year. Year-over-year growth in Charlotte ranks #35 among the nation’s 100 largest cities. Rents in Charlotte are up by 20.5% since the start of the pandemic in March 2020.
Median rents in Charlotte currently stand at $1280 for a 1-bedroom apartment and $1402 for a two-bedroom.
While Charlotte saw a higher rental increase than the national average, the overall average of the state was even higher at 19.2%.
Do you think rental rates in Charlotte are too high?
What do you think can be done to bring them down?