If your apartment search in Charlotte seems a lot more expensive than a year ago, you’re not alone.
After a brief reprieve in 2020, when some landlords held off on raising rents, increases are roaring back across the Charlotte metro area, according to data from real estate research firm CoStar.
Rents across the metro area are up 16.7% year-over-year from last September, with an average rent $1,430 per month, according to CoStar data. The data show what many renters are paying in the 10-county region that makes up the Charlotte metro area.
Renters are seeing a significant departure from annual rent growth for the area in recent years, which has been around 5%.