Charlotte rent is up 34 days into 2023. How do prices compare in NC? See this chart
As 2023 kicks into high gear, many across Charlotte are paying more in rent than they were at the same time last year.
Median rents in Charlotte-area ZIP codes rose by an average of 4.2% over 2022, according to the latest data available from RentHub, to $1,900. That comes as experts say rents nationwide did start to decline later in the year and may fall further in 2023.
Whether rents are going up or down on average, things can vary greatly across the many neighborhoods and communities. And Charlotte’s rates often outpace that of other cities in North Carolina.
Here’s what to know about rent rates across the Charlotte metro area and how they compare to other communities in North Carolina:
Most, least expensive ZIP codes in Charlotte
While the median rent for the full Charlotte area increased in the last year, per RentHub, things were not completely uniform among all ZIP codes.
The 28207 ZIP code — which includes the Eastover area — had the highest median rent headed into the new year, $4,000. At the other end of the spectrum, the 28083 ZIP code — which includes parts of Kannapolis — had the lowest median rent, $1,700.
The 28207 area also had the biggest increase in median rent year-over-year, according to RentHub, increasing by 82.23%. Meanwhile, the 28164 ZIP code — which includes parts of Stanley — saw its median rent decrease by 6.76%.
Use the interactive map below to compare median rents across the Charlotte metro area:
How do Charlotte rents compare to other NC cities?
As rents in Charlotte have fluctuated in the last year, so have average rents in other cities across the state.
In January, Charlotte’s average rent outpaced that of Asheville, Durham, Winston-Salem and Greensboro, per RentHub’s data. Raleigh’s average rent for the month, $1,971, was slightly higher than Charlotte’s average.
Use the interactive chart below to see how average rents in Charlotte have compared to other North Carolina cities in the last year: