Real Estate News From Carolina Living Real Estate and Property Management!
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The median monthly asking rent in the U.S. surpassed $2,000 for the first time in May, rising 15% year over year to a record high of $2,002. That’s on par with April’s annual increase of 15%, but a slowdown from March’s 17% gain.
For the Charlotte in the same period: Rent average is $1822 which is an 8.7% Increase
According to economists: “rising mortgage-interest rates are forcing would-be homebuyers to keep renting,” “While renting has become more expensive, it is now more attractive than buying for many Americans this year”. “Although we expect rent-price growth to continue to slow in the coming months, it will likely remain high, causing ongoing affordability issues for renters.”
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