1 Studio Apartments for rent in Charlottesville, VA

Last updated August 17 at 2:27AM
Results within 20 miles of Charlottesville, VA
113 W Main St
Orange
Orange, VA
Updated August 17 at 2:27AM
Studio
$2,850
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Rent Report
Charlottesville

September 2017 Charlottesville Rent Report

Welcome to the September 2017 Charlottesville Rent Report. Charlottesville rents remained steady over the past month. In this report, we'll evaluate trends in the Charlottesville rental market, including comparisons to similar cities nationwide.

Charlottesville rents held steady over the past month

Charlottesville rents have remained flat over the past month, however, they have increased slightly by 1.8% year-over-year. Currently, median rents in Charlottesville stand at $1,080 for a one-bedroom apartment and $1,240 for a two-bedroom. Charlottesville's year-over-year rent growth leads the state average of 1.6%, but trails the national average of 3.0%.

Charlottesville rents more affordable than many large cities nationwide

Rent growth in Charlottesville has been relatively stable over the past year - some other large cities have seen more substantial increases. Charlottesville is still more affordable than most large cities across the country.

  • Other cities across the state have seen rents increase, with Virginia as a whole logging rent growth of 1.6% over the past year.
  • Charlottesville's median two-bedroom rent of $1,240 is above the national average of $1,160. Nationwide, rents have grown by 3.0% over the past year compared to the 1.8% rise in Charlottesville.
  • While rents in Charlottesville remained moderately stable this year, similar cities saw increases, including Seattle (+5.4%), Phoenix (+4.9%), and Denver (+3.0%); note that median 2BR rents in these cities go for $1,710, $1,020, and $1,350 respectively.
  • Renters will find more reasonable prices in Charlottesville than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is nearly two-and-a-half times the price in Charlottesville.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start 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, comparing only units that are available across both time periods 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. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.