Despite a Charlotte rental prices declinecosts remain high, according to a recent report of Zumper, digital platform specialized in rentals.
This means that although there is a drop in rent, people still do not have enough capacity to be able to Pay for your stay in a house in a “comfortable” waywhich is why many people continue to suffer month after month.
How much has rent dropped in Charlotte?
The study reveals that although the price of a one-bedroom apartment has decreased almost 7% compared to last yearthe average remains at $1,490 per montha significant figure for many families.
What is the cheapest city in the Charlotte metropolitan area?
Surprisingly, Charlotte is not the city with the highest rents in the metropolitan area. Huntersville exceeds this figure with an average cost of $1,530 for a one-bedroom apartment. In contrast, Gastonia is positioned as the most economical optionwith rents around $1,000, although this figure has increased by 4% in the last year.
Kannapolis, another city in the region, saw the biggest increase in rent prices, up nearly 9% compared to last year. Meanwhile, two-bedroom apartments in Charlotte top out at $1,700, making them unaffordable for many middle-income earners.
Nationwide, rental costs are up 2%, though Texas stands out as the exception, thanks to the construction of more than 100,000 new apartment units in the past year.
To view the full report, You can do it at this link.
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