Apartments Under $500 in Charlotte, NC

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Apartments Under $500 in Charlotte, NC

Search and browse 15265 apartments under $500 available for rent in Charlotte, NC. With apartments that span the entire city, you will find an apartment in Charlotte for just the right price. During your search, sort your favorite apartments under $500 by one of our listed amenities — covered parking, in-unit washer and dryer, a rooftop pool, a modern fitness center, an updated kitchen, energy efficient appliances, smart technology, online leasing, payments, and more. Want to tour a property? Schedule a tour online and you’ll be moving in to your new Charlotte apartment before you know it.

Charlotte:
June Rent Report

Welcome to the June 2020 Charlotte Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the June 2020 key findings and figures for the Charlotte rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Charlotte and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Charlotte rent prices in the chart below.

Monthly Rent Report

Charlotte Rent Prices Decrease From May to June

Charlotte rent prices decreased over the last month. From May to June, the city experienced a -0.67% decrease for the price of a one-bedroom apartment. The rent price for a Charlotte one-bedroom apartments currently stands at $1,191.0.

When we take a look at the two-bedroom comparison from May to June, Charlotte experienced a 0.53% increase for the price of a two-bedroom apartment. The rent price for a Charlotte two-bedroom apartments currently stands at $1,338.0.

June Prices: Charlotte vs. Surrounding Areas

Rent Prices in Charlotte and Surrounding Areas

Rent prices have decreased in Charlotte over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 5 of the Charlotte suburbs increased last month. On the other hand, 1 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Rock Hill, SC, Concord, NC, Mooresville, NC, Matthews, NC, Cornelius, NC .

  • Rent decreased in Fort Mill, SC.

  • 2 suburbs are currently priced higher than the city of Charlotte.

  • 4 suburbs are currently priced lower than the city of Charlotte.

June 2020 Pricing Trends: Charlotte vs. National Comparisons

Charlotte Rent Prices More Affordable Than Major Cities

Rent growth in Charlotte over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Charlotte rent prices appear to be relatively affordable for local residents.

The price for a Charlotte one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of ABODO's June 2020 National Apartment Report and data set here.

For more information about Charlotte and surrounding area rent prices, take a look at the complete data set below.

Data set for Charlotte and suburbs

1 BR June 1 BR M/M % Change 2 BR June 2 BR M/M % Change
Charlotte, NC $1,199.0 0.76% $1,331.0 0.83%
Rock Hill, SC $936.0 0.75% $1,122.0 0.27%
Concord, NC $1,028.0 1.28% $1,262.0 5.61%
Fort Mill, SC $1,024.0 0.00% $1,348.0 0.00%
Mooresville, NC $1,201.0 0.67% $1,275.0 -1.09%
Matthews, NC $1,240.0 1.56% $1,466.0 0.00%
Cornelius, NC $1,115.0 1.73% $1,496.0 3.89%

Methodology

Each month, using over 1 million ABODO listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.