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Uptown Charlotte First Ward

Source: Sky Noir Photography by Bill Dickinson / Getty

Rent in the city is increasing as a result of metro Charlotte’s explosive growth.

Apartment List, an online rental marketplace, said that Charlotte’s year-over-year rent increase of 17.5 percent exceeded the US as a whole’s 14.3 percent.

According to the survey, the monthly average rent in Charlotte for a one-bedroom apartment was $1,338, and for a two-bedroom apartment, it was $1,466 as of June. According to Apartment List, the cost of a three-bedroom apartment was $2,201 on average.

After a reduction in rent in December of last year, the city has experienced rent hikes for the sixth consecutive month.

Here are some of the most expensive neighborhoods:

BARCLAY DOWNS (SOUTHPARK)

  • One Bedroom: $1,783, 19% higher than city median
  • Two Bedroom: $2,395, 39% higher than city median
  • Three Bedroom: $5,293, 168% higher than city median

COMMONWEALTH

  • One-bedroom: $1,935, 29% higher than city median
  • Two-bedroom: $2,718, 58% higher than city median
  • Three-bedroom: $2,595, 31% higher than city median

DILWORTH

  • One-bedroom: $1,770, 18% higher than city median
  • Two-bedroom: $2,400, 39% higher than city median
  • Three-bedroom: $2,560, 39% higher than city median

ELIZABETH

  • One-bedroom: $1,549, 3% higher than city median
  • Two-bedroom: $1,899, 10% higher than city median
  • Three-bedroom: $2, 558, 30% higher than city median

FOURTH WARD (UPTOWN)

  • One-bedroom: $1,669, 11% higher than city median
  • Two-bedroom: $2,120, 23% higher than city median
  • Three-bedroom: $2,999, 52% higher than city median

MADISON PARK

  • One-bedroom: $1,621, 8% higher than city median
  • Two-bedroom: $1,996, 16% higher than city median
  • Three-bedroom: $2,020, 2% higher than city median

SOUTH END

  • One-bedroom: $1,879, 25% higher than city median
  • Two-bedroom: $2,649, 54% higher than city median
  • Three-bedroom: $3,485, 76% higher than the city median

Read the full story here.