June 2020 Charlotte Rental Market Analysis

As we move through the new normal and we start to re-open, the Charlotte rental market continues to show great improvement and strength. The number of units leased during the month of May showed a great increase from only 907 homes leased in May 2019 to a total of 1,109 leased in May 2020. Charlotte Rental market also saw an increase from April with only 937 homes leased. We did see a decrease in inventory of homes listed in May dropping from 1376 homes in April to only 1,082 in May. This does create a supply and demand and increases the monthly rental price. The average monthly rental price continues to rise with an average of $1563 per month. All these numbers show the Charlotte rental marketing has remained strong through the current pandemic. If you are interested in learning more about the market and hot areas contact My Home Leasing, we would love the opportunity to work with you!