Rent Comparison: Charlotte vs. Atlanta apartment prices

Rent Comparison: Charlotte vs. Atlanta apartment prices

Photo: Andy Weber

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Charlotte and Atlanta are constantly being compared. While it’s becoming more expensive to rent in both cities, rents in Charlotte are increasing faster than they are in Atlanta.

What’s happening: The national average rent rate rose to $1,706 in July and recent reports show Atlanta and Charlotte rates are relatively close in price point, according to RentCafe, an apartment-search website.

Why it matters: Charlotte is listed as one of the top 10 cities with the fastest metro-level rent growth, according to Apartment List.

  • In one year, rental rates increased 17% in Charlotte, making it the 7th highest yearly increase compared to other metros. 
  • Over the past six months, Charlotte’s rent rates have increased 9%, ranking it number 10 among other metros.
  • Atlanta experienced a 10% year-over-year increase in rental rates, according to a recent report.

The big picture: According to RentCafe, rent prices vary on a number of factors, with one of them being location.

  • The most affordable neighborhood in Atlanta is also within the inner part of the city, Atlanta University Center. The average rent there is $1,131. 
  • One of the most affordable neighborhoods in Charlotte, which is farther away from the inner part of the city, Bradfield Farms, has an average rent price of $1,214. 
  • In some of the priciest neighborhoods in Atlanta (Buckhead Heights and Lennox), average rents are $2,477. That compares to $2,650 in Eastover, one of Charlotte’s most expensive neighborhoods.

The bottom line: While it’s generally cheaper to rent in Charlotte over Atlanta, rents here are soaring.

Related story: Rent Comparison: Charlotte vs New York City apartment rates

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