With one of the busiest international airports in the world, Charlotte is home to the country’s second-largest banking center and many Fortune 500 companies.
It’s no surprise why many have their eyes on the North Carolina city and its many neighborhoods. The high-speed rail LYNX also easily connects several areas of Charlotte for easy access.
Thinking of moving this year to the Southeastern city? Think fast. Here are the five Charlotte neighborhoods where prices have increased the most in the past year.
5. East Forest
- Price increase over the past year: 12.63 percent
- Average rent for one-bedroom in East Forest: $963
If you’re looking for an up-and-coming neighborhood with great amenities, look no further than East Forest. The Charlotte neighborhood remains affordable despite a recent spike on one-bedroom rents.
The nearby McAlpine Creek Park boasts a 114-acre park with a fishing pier, hiking, bike trails and a dog park.
4. Hickory Ridge
- Price increase over the past year: 14.37 percent
- Average rent for one-bedroom in Hickory Ridge: $993
Only 20 minutes from the city center, Hickory Ridge is nestled in the suburbs of Charlotte. The neighborhood provides plenty of square footage if you’re looking to rent with good schools and green spaces for kids to enjoy. This hidden gem is quickly being discovered as rents in the area have increased 14.37 percent, yet it still remains affordable.
3. Southside Park
Source: Lenny Boy Brewing
- Price increase over the past year: 14.55 percent
- Average rent for one-bedroom in Southside Park: $1,430
Named after a large nearby park, Southside Park is a quiet neighborhood that’s just a quick drive from the city center. Schools in Southside Park, including Myers Park High, are well-rated with a variety of playgrounds, basketballs courts, paved trails and green spaces.
Average rent in this Charlotte neighborhood has increased 14.55 percent in the past year to $1,430 a month. While Southside Park doesn’t have a high walkability score, South End offers plenty of amenities such as trendy restaurants and breweries, including Lenny Boy Brewing.
2. South End
- Price increase over the past year: 17.29 percent
- Average rent for one-bedroom in South End: $1,595
Historic South End has grown up in the last few years as creative dining, art galleries, street art and breweries have found their place in the Charlotte neighborhood. It also has deep roots in the Carolina Gold Rush and its railroad boom.
These days more than 200 creative design businesses have found a home within the neighborhood, according to the neighborhood association. It’s convenient to Uptown, the airport and, of course, the LYNX. One-bedroom apartments in South End have increased 17.29 percent and it’s not hard to see why.
1. Madison Park
- Price increase over the past year: 22.50 percent
- Average rent for one-bedroom in Madison Park: $1,564
Madison Park is a quiet, tree-lined neighborhood just eight miles from the city center. You can easily connect via Charlotte’s LYNX Blue Line. Montford Avenue has a lively nightlife with bars and new restaurants. And Park Road Books and SuarezBakery are among the gems attracting crowds to the neighborhood. The neighborhood boasts two city parks for the outdoor enthusiasts, Marion Diehl Park and Park Road Park. Look for the outdoor track, swimming pool, tennis, volleyball, baseball fields and walking trails.
Methodology
We looked at all neighborhoods in Charlotte with sufficient available inventory on ApartmentGuide.com and Rent. and compared the average price from July 2018 to July 2019 to find the neighborhoods with the highest percentage increase in one-bedroom apartment prices.
The current rent information included in this article is based on July 2019 multifamily rental property inventory on ApartmentGuide.com and Rent. and is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.
