May 2020 Charlotte Rental Market Analysis

During the height of the Covid-19 pandemic, the Charlotte rental market saw a decline in leasing from the month of March to April as to be expected. Even though the number of leased homes dropped from 1,166 units from the month of March to 937 for the month of April, we did see an increase compared to April 2019 with an average of 11.2% increase. The Charlotte rental market average monthly rental rate increased from March to April closing with an average of $1,528 per month. The market is already heating up for the month if May as stay home restrictions start to ease! Contact My Home Leasing for more information about your rental properties.