The new year brought a very slight increase in average rents in Charlotte, which was still enough to break a four-month string of decreases,according to Axiometrics, the leader in apartment and student housing market intelligence.

January’s average rent of $1,025 was 3.3% higher than the January 2016 average, continuing last year’s trend of moderating performance in the market. January rent growth was 2.4 percentage points lower than the January 2016 rate.

“This type of moderation can be expected in a market where job growth is slowing and supply is hitting its peak,” said Stephanie McCleskey, vice president of data acquisition for Axiometrics. “However, Charlotte continues to be a strong market, and is performing above the national level.”

Charlotte-Concord-Gastonia Metropolitan Statistical Area (MSA)

In researching Charlotte as compared to the national market, Axiometrics reported data as follows:

The rolling two-year data for Charlotte signal volatile effective rent growth and volatile occupancy rates.

CharlotteSubmarket Report

Of the 15Charlotte submarkets with more than 1,000 units, the following areas comprised the top five for annual effective rent growth in January 2017.

About Axiometrics

Axiometrics’ expertise is monitoring and reporting on the apartment and student housing markets, providing an in-depth view of volatile market trends. Axiometrics’ granular data-collection methods and thorough analysis help clients make profitable – and wise – decisions.

To learn more visit www.axiometrics.com, follow @Axiometrics or on LinkedIn, or call 214-953-2242.