Growth In Charlotte Rents Over Past 12 Month Compared With North Carolina & USA
Charlotte’s median rent increased 2.5% compared with the same time one year ago. Median rents in Charlotte are $970 for a one-bedroom apartment and $1,130 for a two-bedroom. This is the fourth straight month that Charlotte has seen rent increases after a decline in November 2018. Charlotte’s year-over-year rent growth is a bit lower than the state average of 2.6%, but is almost double the national average of 1.3%.
Rental Trends For Charlotte vs. National Comparisons: March 2019
Although Charlotte is more affordable than other cities, median rents in Charlotte for a 2-bedroom home have risen almost twice as fast at 2.5% versus the national average where median rental prices increased 1.3%.
Median Rental Prices For Charlotte Region Cities & Towns
As this graph clearly shows, rental rates are not going down in any of the towns and cities in the Charlotte region, either in North Carolina or South Carolina on a year-over-year basis. There is little to indicated that we will see a fall back in rental rates any time soon. The time to stop renting and buy a home is NOW.