Housing is the largest monthly expense for most people. And these days it just keeps rising and rising. Factor in the absolute insanity that is the housing market these days and it’s a lose-lose situation for many. I know personally, my rent went up $200 a month when I resigned my lease in June. That’s an extra $2,400 a year which is not a small difference. And while making day-to-day more expensive it also makes it more difficult for renters to save for a home and get out of the rent game. Rent in Charlotte is up 18% from last year. That seems comparable to my experience. But when looking to rent what Charlotte neighborhoods are the most affordable? Or is it better to go outside the city limits?
We are here to help. Below you will find information, provided by Rent.com, on the average rent in Charlotte. You’ll find the average price for a studio, one, two, and three bedrooms. You will also find a list of the average price to rent a one-bedroom in different Charlotte neighborhoods, and the same for other nearby towns. The more information you have the better decision you can make on where to live. Whether you value location, amenities, space, or finishes the Charlotte market has something for you. You just might pay more than you want to! I know I am.
The Most Expensive Cities For Rent In North & South Carolina May Surprise You
Renters are feeling the pain of the housing crisis and inflation through with record-breaking rental prices. I know personally mine went up $200 a month when I resigned my lease in June. That’s an extra $2,400 a month which is not a small difference. And while making day-to-day more expensive it also makes it more difficult for renters to save for a home and get out of the rent game. This prompted Lawn Love to conduct a study on the most expensive metros for rent. They compared 185 markets and discovered that the median rent in the country is $2,000. Ouch. I was shocked however at the most expensive cities for rent in both North and South Carolina.
I would have thought easily Charlotte would be the most expensive, but the Queen City is not. In fact, they are the 9th-ranked metro in the Carolinas. Ninth. And I thought we had it bad. The rankings are based on average rent prices and the year-over-year change, renters insurance, as well as a percentage of renters who spend 30% or more of their income on rent.
With housing prices still at record highs, there really is no relief for your average American these days. The probably is exasperated by rental companies coming in and buying up the limited supply of houses to then rent or flip to sell.
Check out the 25 most expensive metros for rent in the country and the North & South Carolina rankings below.