CHARLOTTE, N.C. — Driven in part by a booming economy and surging population, the Queen City is currently outpacing most other major cities in terms of rental-market growth, according to the recently released Yardi Matrix Multifamily National Report. That monthly analysis found rental rates in Charlotte were up 3.4% in April from a year earlier, ranking the city among the top 10 nationwide by that measure.
But for 2019 to date, the growth rates of rents in the state’s two largest cities are leading the nation.
“North Carolina metros Raleigh and Charlotte emerged as the fastest-growing rental markets in recent months, with both up 0.5%,” the report states. It listed a strong business climate, temperate weather and attractive employment opportunities as factors that “have bolstered housing demand in the Tar Heel State.” Raleigh’s rental rates were up 3.7% in April from the same time last year.
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