Though performances have come down with the rest of the nation, the three biggest North Carolina apartment markets are still logging rent change beyond the national norm. While Greensboro/Winston-Salem saw rent change fall below the rest of North Carolina earlier in the pandemic, this market managed some progress in recent months, with effective asking prices climbing 3.2% in August. This was one of the nation’s best performances among the largest 50 apartment markets. Raleigh/Durham retained minimal annual rent growth of 0.1% as of August, while Charlotte logged mild price cuts of 0.6%. In comparison, the U.S. overall logged its deepest decline in over a decade, with annual rent cuts of 1.4% cuts in August.
