Charlotte, NC Rental Market Trends

Charlotte Rent Report: October 2023

Welcome to the Apartment List October 2023 Rent Report for Charlotte, NC. Currently, the overall median rent in the city stands at $1,494, after falling 0.6% last month. Prices are now down 2.4% year-over-year. Read on to learn more about what’s been happening in the Charlotte rental market and how it compares to trends throughout the broader Charlotte metro area and the nation as a whole.

Charlotte rents are down 0.6% month-over-month and down 2.4% year-over-year

The median rent in Charlotte fell by 0.6% over the course of September, and has now decreased by a total of 2.4% over the past 12 months. Charlotte’s rent growth over the past year has is similar to the state average (-2.5%) but has fallen below the national average (-1.2%).

Charlotte rent growth in 2023 pacing below last year

Nine months into the year, rents in Charlotte have risen 1.1%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to September 2022 rents had increased 8.5%.

September rent growth in Charlotte ranked #61 among large U.S. cities

Charlotte rents went down 0.6% in the past month, compared to the national rate of -0.5%. Among the nation's 100 largest cities, this ranks #61. Similar monthly rent growth took place in Cincinnati, OH (-0.6%) and Richmond, VA (-0.6%).

Charlotte is the #42 most expensive large city in the U.S., with a median rent of $1,494

Citywide, the median rent currently stands at $1,322 for a 1-bedroom apartment and $1,448 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,494. That ranks #42 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,170 for a 1-bedroom, $1,341 for a 2-bedroom, and $1,364 overall. The median rent in Charlotte is 9.5% higher than the national, and is similar to the prices you would find in Atlanta, GA ($1,496) and Raleigh, NC ($1,489).

Charlotte rents are 4.8% higher than the metro-wide median

If we expand our view to the wider Charlotte metro area, the median rent is $1,426 meaning that the median price in Charlotte proper ($1,494) is 4.8% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at -1.8%, above the rate of rent growth within just the city.

The table below shows the latest rent stats for 7 cities in the Charlotte metro area that are included in our database. Among them, Huntersville is currently the most expensive, with a median rent of $1,875. Concord is the metro’s most affordable city, with a median rent of $1,287. The metro's fastest annual rent growth is occurring in Gastonia (7.1%) while the slowest is in Mooresville (-3.3%).

Median 1BR Rent
Median 2BR Rent
M/M Rent Growth
Y/Y Rent Growth
Rock Hill
See More

You can also use the map below to explore the latest rent trends in the Charlotte metropolitan area.


Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.

Data Access

Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.

Top rent specials in Charlotte

Cities similar to Charlotte

Find the best apartment deals!
How many bedrooms do you need?
Find More Rentals By
Find More Rentals in Nearby
Find More Rentals Near