The subject of today’s snapshot is the neighborhood of Southpark, Charlotte, North Carolina. Based on our analysis, Charlotte's year-over-year average rents increased across all bedroom types.
Our standard neighborhood analysis uses a 12-month “LookBack” to establish an average baseline rent. The results from the 12-month LookBack analysis are presented in the tables below for Charlotte 1-2 bedroom rents from November 1, 2020 – November 1, 2021:
As the table shows, 1BR units increased by 25% from last year or $276 more, and 2BR units increased by 25% or $331 more. As demonstrated by the table, year-over-year performance for all selected bedroom types increased.
Rentometer is the #1 tool for comparing residential rent rates anywhere in the U.S. To succeed as a real estate investor, you need solid, current market intelligence to help you set the right rent rates in Charlotte. Understanding local rents (and the factors that drive them) can help reduce investment risk, increase occupancy and improve your cash flow – and income. With Rentometer, you have local, current rents available right at your fingertips.
This article was written by the Rentometer Content Team. The Rentometer Blog features fresh takes and insights on rental housing topics, services, and technology.