A new report shows that rents in Charlotte have fallen but remain high. According to a report released today by Zumper, a digital marketplace for renters and property managers, the cost of rental housing in Charlotte fell by almost 7% from a year ago.
The median cost of a one-bedroom rental in Charlotte is currently $1,490. However, the report found that one-bedroom rentals in Charlotte are not the most expensive in the metropolitan area. Huntersville ranked higher at $1,530 for a one-bedroom apartment.
The least expensive city in the area was Gastonia at just over $1,000, but the report said that price is almost 4% higher than a year ago. Rents in Kannapolis went up the most since last year to an increase of almost 9%.
The median cost of a two-bedroom apartment in Charlotte was listed at more than $1,700, making it unaffordable for many people and families with moderate incomes.
Nationwide rental costs are up by about 2%, according to the Zumper report, with Texas being an exception where more than 100,000 apartment units were built over the last year.
