South Charlotte Today

South Charlotte Today

Friday, February 28, 2020

Charlotte metro area sees 2.6-percent rent increase

Real Estate

By Angela Watson | Feb 3, 2020

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Rent in the Charlotte metro area has seen a jump in the past year, according to the 2020 National List Report by Apartment List. 

Charlotte metro rents increased 2.6 percent from December 2018 to December 2019, higher than the 1.4-increase nationally for that same period. The median price for a 1-bedroom apartment in Charlotte is $990, and a 2-bedroom will set renters back an average of $1,154 a month.  

Rent in Mesa, Arizona saw an increase of 5.1 percent from December 2018 to December 2019 for the fastest year-over-year rise among cities with populations of 250,000 or more. Stockton, California saw a major rent increase of 28.5 percent in a five-year period, according to the report.

The cities with the fastest rise in rent in the last five years include, Stockton, Colorado Springs, Mesa, Arlington, Texas, Henderson, Nevada, Tampa, Florida, Aurora, Colorado, Phoenix, Arizona and Sacramento, California. 

Apartment List dissects rental-specific market trends combed from the Department of Housing and Urban Development’s Fair Market Rent Calculation methodology. 

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