Annual rent growth in the Charlotte area outpaced all but one city in North Carolina in March: Wilmington, according to monthly report by Apartment List.
Median rent for a two-bedroom unit cost $1,210 last month, a 5.1% increase from March 2106, says the San Francisco-based online rental platform, which aggregates data for one- and two-bedroom apartments from its listings database. Charlotte’s rental growth also eclipsed the state’s average of 4.2% and national average of 2.4
From February to March, Charlotte rents increased 1.3%.
As for one-bedroom units, the median rent was $1,090 — the most expensive of North Carolina cities included in Apartment List’s report.
Apartment rental database Zumper provides another look at how rents have increased over the past month and year.
The San Francisco-based startup showed median rent for a one-bedroom unit in metro Charlotte increasing 1.8% over the year and 2.7% between February and March. Median rent was pegged at $1,150.
For a two-bedroom unit, local median rent last month was $1,270. That’s growth of 8.5% over the year and 3.3% over the month, says Zumper.
Charlotte moved up two notches on Zumper’s national list to tie with Baltimore, Houston and Madison, Wis., as the 25th-most expensive U.S. rental market in March.
Nationally, median rent for a one-bedroom increased to $1,164 and to $1,377 for a two-bedroom. For a one-bedroom unit, that represents growth of 1.9% over the month and 2.6% over the year. For a two-bedroom apartment, rent increased 1.8% over the month and 2% over the year.