Nationwide, rents increased 0.3% in February, the first monthly increase in rents following six consecutive months of declines.
February typically marks the annual start of the busy season for the rental market, as rents are expected to rise month-over-month through the upcoming spring and summer. But coming off another slow winter, the national median rent ($1,375) remains 0.4% lower than one year ago.
Zooming in on Charlotte specifically:
- Rents in Charlotte increased 0.2% in February, compared to a 0.3% increase nationwide.
- Year-over-year rent growth in Charlotte now stands at -2.1%, up from -2.8% one year ago.
- Today the median rent in Charlotte is $1,276 for a one-bedroom unit and $1,391 for a two-bedroom unit. And the citywide apartment vacancy rate stands at 8.5%, up 0.4 percentage points from this time last year.
For more national and local insights, check out the latest update to our Charlotte Rent Report.
