Charlotte rent getting lower, report shows

CHARLOTTE, N.C. — In a time where it seems like everything is getting more expensive, Charlotte rent has actually fallen, according to a report that used National Rent Index data.

Zumper's study found Charlotte's media rate for a one-bedroom was around $1,480, down 5.7% year-over-year where a two-bedroom in Charlotte comes in around $1,750 which is down 2.2% year-over-year.

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Other significant changes seen in the Carolinas were:

• Charleston, SC: $2,000 for a one-bedroom which is up 3.6% year-over-year, and $2,530 for a two-bedroom which is actually down 2.3% year-over-year
• Asheville, NC: $1,470 for a one-bedroom which is down 2% year-over-year, and $1,790 for a two-bedroom which is slightly down at 0.6%
• Durham. NC: $1,430 for a one-bedroom which is down 9.6% year-over-year, and $1,670 for a two-bedroom which is significantly down by 7.2%
• Raleigh, NC: $1,290 for a one-bedroom which fell extensively (down 9.8% year-over-year), and $1,560 for a two-bedroom which is down slightly by 2.5%
• Greensboro, NC: $960 for a one-bedroom which plummeted 11.9% year-over-year, and $1,190 for a two-bedroom which is down 0.8%
• Winston-Salem, NC: $930 for a one-bedroom which fell 4.10% year-over-year, and $1,170 for a two-bedroom which actually increased by 2.6%

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Nationally, rent for one- and two-bedrooms increased 1.2% in May, marking the first time the report has noticed monthly growth rates higher than 1% in more than 20 months. The national one-bedroom rent price is still $287 higher than it was four years ago, while the national two-bedroom rent price is $400 more expensive.

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