15,352 new apartment units in Charlotte led to a decrease in rent prices by 2% since 2022.
Due to a surge in US apartment construction, renters in Charlotte are seeing a decrease in rent prices. The increase in supply has led to 15,352 new units being added in Charlotte last year, double the average number of units added between 2015 and 2019. This has resulted in one-third of property managers offering concessions on rental units. Rent prices have dropped by 2% since their peak in 2022, with home prices still increasing, albeit at a slower rate. The rental market is expected to tighten up in the next few years as construction slows down.
August 12, 2024
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