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Average Rental Prices in Charlotte, NC

Average Rental Prices in Charlotte, NC

Charlotte, North Carolina is a prime place to live because the real estate is below the national average. That's right. A city with affordable pricing is rare to find, but Charlotte offers amazing and competitive pricing!

Charlotte is a metropolitan area with the charm of the south, and the conveniences of the city mean you don't want to miss out. People who move here enjoy all the excitement the city has to offer.

If you are considering moving to Charlotte, NC, do you know the right place's to look?

We can help you figure out average rental prices and the perfect home for you to rent in Charlotte, NC.

Why Move To Charlotte

Many people look to move to the Charlotte area for the many opportunities in careers and entertainment. People like the city life, activities and enjoy the parks and recreational activities. For those who grow up in the south but want to live in a growing area with plenty of things to do, this is the perfect location. 

1. Job Opportunities

The city of Charlotte North Carolina is the third-largest city in the banking industry and is full of businesses and job opportunities of varying types. The shorter commutes and social activities after work make working and living in cities more desirable.  

2. Spending Time Outside

For those that enjoy time outside in nature, the city has plenty of beautiful outdoor spaces such as Park Road Park and Little Sugar Creek Greenway. Another considerable appeal of Charlotte is that the climate is pleasant year-round. Temperatures are enjoyable and locals experience all four seasons.

3. Events and Activities

Charlotte is home to yearly festivals, NASCAR events, restaurants, bars, libraries, and sports teams. These hobbies bring more interested renters into the city. People enjoy the ability to live close to work and have enjoyable activities to do after work. The BRAHM museum is one example of the interesting locations the city has to offer.

Cost of Living 

To live comfortably in Charlotte, earning a salary above 52,000 per year will cover the cost. This price affords people a one-bedroom apartment rent cost of 30% of income level.

Since this salary is attainable to many city dwellers, Millennials and younger generations view Charlotte as a great place to move.

Those eager to work as start-ups in the tech industry can maintain their monthly rental cost while also working for a newer company.

Young adults see the move to Charlotte as a wise choice that meets their housing needs and allows them to be more ambitious with their careers.

Average Rental Prices

Living in a highly desired location within cities often requires paying more costly rents. Rental prices in Charlotte are below the national average. The average rental price in Charlotte is $1,301 per month for a 941 square foot apartment.

There are lower and higher costing apartments in Charlotte and those costs can range from $500-$2,500 depending on site and amenities, leaving a wide range of options for city dwellers.

Knowing the exact rental costs of a location can help determine if it is the right starting point.

The Higher Cost Rentals

While 59% of residents in Charlotte are homeowners, the remaining 41% of those living in the city are rentals. A large amount of renters means that there is a great housing market for those looking to rent. If renters are looking for homes or looking for apartments, the real estate market can meet their needs.

These residential areas have a broad array of costs for renters. Knowing where to look when moving into a new city can help determine what cost a renter is looking to pay. There are always locations with vacancies at each price point.

The most expensive area in Charlotte is Eastover which averages a rental cost of $1,961 per month. Some other more pricey locations are Uptown, The South End, and Brookhill, all averaging in the $1,600 range.

The Lower Cost Rentals

Charlotte offers several areas where renters can pay right under 1,000 dollars per month, on the opposite end of the spectrum. These lower-cost areas include Avensong, Bradfield farms, Oak Forest, Cedarbrook Acres, Hickory Grove, and Lakeland hills.

Those looking for a below-average housing cost will be happy to know that Charlotte has several areas to accommodate them. Charlotte has rental prices below the national average. This means that when someone finds a great deal on a low-cost rental, they can use their finances in other ways.

Lower-cost rentals also open up more affordable options for residents who are looking to save money on housing. 

The Hot Spots

While the highs and lows are helpful to look at when pricing a market, most of the rentals in the popular locations cost lower to middle price points.

The Plaza Midwood area is a popular location where rents average between $1,185-$1,240 per month. Highland creek and Rockwell park have similar average costs. Renters enjoy these homes as the rentals are spacious, comfortable, and in good locations.

Nearby Universities

Duke University and the University of North Carolina are nearby Colleges. Both of these colleges have large student body populations.

After graduating, many students move to the city to start their careers. Many people who desire to live in the city want to stay near their Alma Mater as universities host games and events year-round.

These events hosted at a graduate's former college include football games and tailgates that bring back friends to gather together. Living in the city allows graduates to be close enough to revisit their school and attend these popular events.

Where To Look

We understand that moving to a new city can be daunting. Figuring out the average rental prices and the best area to live in are crucial steps you need to take before moving. As a renter, you need to make sure to get the best value for your dollar.

With the constant growth of Charlotte, make sure you are looking in the correct location and knowing the best the city has to offer. 

At Bottom Line Property Management, we are the experts who can help you find a charming and comfortable home for rent in Charlotte NC. Let us help you find the perfect place.

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