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Apartments Under $500 in Charlotte, NC

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Apartments Under $500 in Charlotte, NC

Search and browse 13530 apartments under $500 available for rent in Charlotte, NC. With apartments that span the entire city, you will find an apartment in Charlotte for just the right price. During your search, sort your favorite apartments under $500 by one of our listed amenities — covered parking, in-unit washer and dryer, a rooftop pool, a modern fitness center, an updated kitchen, energy efficient appliances, smart technology, online leasing, payments, and more. Want to tour a property? Schedule a tour online and you’ll be moving in to your new Charlotte apartment before you know it.

Charlotte:
July Rent Report

Welcome to the July 2021 Charlotte Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the July 2021 key findings and figures for the Charlotte rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Charlotte and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Charlotte average rent prices in the chart below.

Monthly Rent Report

Charlotte Rent Prices Increase From June to July

Charlotte rent prices increased over the last month. From June to July, the city experienced a 1.92% increase for the price of a one-bedroom apartment. The rent price for a Charlotte one-bedroom apartments currently stands at $1,222.0.

When we take a look at the two-bedroom comparison from June to July, Charlotte experienced a 1.04% increase for the price of a two-bedroom apartment. The rent price for a Charlotte two-bedroom apartments currently stands at $1,456.0.

July Prices: Charlotte vs. Surrounding Areas

Rent Prices in Charlotte and Surrounding Areas

Rent prices have increased in Charlotte over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 4 of the Charlotte suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Rock Hill, SC, Cornelius, NC, Fort Mill, SC, Matthews, NC .

  • Rent decreased in Concord, NC, Mooresville, NC, Gastonia, NC.

  • 2 suburbs are currently priced higher than the city of Charlotte.

  • 5 suburbs are currently priced lower than the city of Charlotte.

July 2021 Pricing Trends: Charlotte vs. National Comparisons

Charlotte Rent Prices More Affordable Than Major Cities

Rent growth in Charlotte over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Charlotte average rent prices appear to be relatively affordable for local residents.

The price for a Charlotte one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of Rentable's July 2021 National Apartment Report and data set here.

For more information about Charlotte and surrounding area rent prices, take a look at the complete data set below.

Data set for Charlotte and suburbs

1 BR July 1 BR M/M % Change 2 BR July 2 BR M/M % Change
Charlotte, NC $1,199.0 1.01% $1,441.0 1.55%
Concord, NC $1,124.0 0.00% $1,317.0 0.00%
Rock Hill, SC $1,087.0 4.62% $1,201.0 8.10%
Mooresville, NC $1,161.0 -0.77% $1,402.0 -0.71%
Cornelius, NC $1,246.0 1.38% $1,486.0 2.70%
Gastonia, NC $811.0 0.00% $912.0 0.77%
Fort Mill, SC $1,081.0 4.24% $1,326.0 1.22%
Matthews, NC $1,334.0 5.54% $1,627.0 11.06%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.