Rents are still on the rise despite a record number of new apartments under construction in Charlotte, and it’s tough to find even a studio in brand-new buildings for under $1,000 a month.
After seeing the $1,470-for-a-studio rents at the Ascent apartment tower uptown last month, which is nearing completion, I decided to look at the smallest and largest units in five new apartment buildings around town. For some reference, the average rent for all apartments in the Charlotte region is $1,052 a month, according to the latest stats from tracking service Real Data.
And there are some caveats, of course. Many new buildings offer concessions, or breaks on rent, while they’re first leasing units to new renters. That means the price you actually pay might be less than the advertised sticker price (For example, one month of free rent at $1,500 a month is effectively the same as a $125 per month discount over a full year). And though the prices on these apartments might seem high, they come loaded with amenities – everything from upscale appliances to pet spas to dedicated massage rooms.
Here’s how the rents break down at five brand-spanking-new apartments in Charlotte: