How rent growth in Charlotte stacks up to NC counterparts

CHARLOTTE — North Carolina’s largest apartment markets are showing strength amid the ongoing pandemic, driven in part by solid workforce and population growth. That’s the takeaway of a recent report by real estate software and data analytics firm RealPage.

[Here’s how much workers have to earn to afford rent in Charlotte area]

According to that analysis, rent increases in the Charlotte-Concord-Gastonia, Raleigh-Durham and Greensboro-Winston-Salem regions continue to pace above the national norm, a trend further established in the past year.

So which of those three markets has seen the sharpest annual uptick in effective asking rents for new leases? That would be the Raleigh-Durham area, where rent grew 14.4% in July over the year.

The Charlotte metro came next with a year-over-year rent increase of 12.9% in July, followed by a 12.1% gain for Greensboro-Winston-Salem market. The national rent increase was about 8%.

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