Nestled in the middle of North Carolina, Charlotte is anything but a sleepy Southern city. From parks to breweries to favorable average rent prices, Charlotte has a lot going for it.
Did you know the Queen City is the U.S.'s third-largest banking center behind New York and San Francisco? Bank of America grew its world headquarters in Uptown Charlotte.
The city also offers many opportunities to learn about its financial roots with U.S. Mint and the Gold Rush. Beyond its financial center history, Charlotte has a thriving dining scene, complete with good barbecue, and of course, some fast, fast drivers at the NASCAR track. Plus, very good weather with 212 sunny days on average in a year.
With one-bedroom rents down nearly 6 percent, it's a great time to consider Charlotte for your next move. Get to know its neighborhoods below to see which one falls within your budget.
Sure, there's New York City, Los Angeles and Chicago. But if you're looking for an affordable urban center that checks all the boxes for city living, add Charlotte to your list. The citywide one-bedroom rent clocks in at $1,299 per month on average, well below the national average of $1,617. On top of that, it saw a decrease of 5.6 percent year-over-year.
Mecklenburg County, where Charlotte is located, surpassed 800,000 residents per the U.S. Census. The immigrant population has contributed significantly to this increase, and with it, it has brought more culture and a rich culinary scene around the city.
At Independence Square, located right in the middle of Uptown, you can see four very important statues representing the past, present and future of Charlotte. Each statue represents an essential part of the economy — transportation, manufacturing, commerce and a mother and baby pointing to the future.
After moving to Charlotte, you can explore the city via the Lynx monorail train system and local bus routes. Once you get to know it, you'll be able to skip rush hour and even traffic due to basketball games or NASCAR races.
To live comfortably in this North Carolina city, you'll have to earn $52,000 a year to afford a one-bedroom. Most experts share that you should not spend more than 30 percent of your gross income on rent. With a job market focused around banking and manufacturing, plus local universities like Duke and UNC, you can find various opportunities.
You can also use our rent calculator to determine how much you can afford and what neighborhoods suit your budget. With an overall cost of living lower than the national average, you can remain flexible on what you can afford.
For those looking to save a bit of money and stay within budget, Charlotte offers affordable living that's considerably less than the national average.
Whether you want to be close to the action in Uptown (also known as Center City) or find some quiet in Myers Park, Charlotte has something for your budget. Like any other city, it requires some exploring and local knowledge.
For those looking for luxury, aim to find a one-bedroom in Plaza Midwood, Dilworth and Uptown. On the other side of the spectrum, save a few pennies at affordable neighborhoods like Third Ward and University City.
At the top of the most expensive Charlotte neighborhoods, we have Plaza Midwood, popular Fourth Ward and Dilworth. Up-and-coming Dilworth saw a 30 percent increase in rent. It's not hard to see why, as the pedestrian-friendly neighborhood offers tons of charm with its eclectic coffee shops and accessible restaurants. Housing in the area is a mix of luxury apartments and small bungalow homes.
Plaza Midwood features yoga studios, small cafes, breweries and a younger crowd that enjoys nightlife. The neighborhood of Sharon Woods remains above the average rent price, but it did see a 15.8 percent decrease year-over-year.
| Rank | Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|---|
| 1 | Plaza Midwood | $2,443 | 4.67% |
| 2 | 4th Ward Historic District | $2,226 | 6.52% |
| 3 | Dilworth | $2,106 | 29.88% |
| 4 | Brown Road* | $2,074 | 31.93% |
| 5 | Sharon Woods | $1,949 | -15.80% |
| 6 | Fourth Ward | $1,876 | -8.25% |
| 7 | South End | $1,860 | -3.00% |
| 8 | First Ward | $1,837 | 2.37% |
| 9 | Uptown | $1,824 | -1.78% |
| 10 | Center City | $1,754 | 5.36% |
While everyone has eyes for the historic Fourth Ward neighborhood, the Third Ward neighborhood's one-bedroom rents have decreased almost 36 percent year-over-year. Every fall, the area lights up as baseball fans congregate at the Bank of America Stadium. The neighborhood boasts many green spaces and dog parks.
Another affordable neighborhood, University City, is home to UNC-Charlotte and a hub for many Fortune 500 companies. You have full access to the LYNX to make it to Uptown without traffic. Close to home and work? Talk about a great live, work and play situation.
| Rank | Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|---|
| 1 | Idlewild Farms | $743 | -0.66% |
| 2 | North Sharon Amity | $799 | -0.52% |
| 3 | Hidden Valley | $839 | 2.64% |
| 4 | Windsor Park | $900 | -3.95% |
| 5 | Becton Park | $921 | N/A |
| 6 | East Forest | $929 | -1.20% |
| 7 | Eastside | $934 | 4.09% |
| 8 | Mountainbrook | $937 | -1.36% |
| 9 | Country Club Heights | $941 | -0.94% |
| 10 | Farm Pond | $965 | 4.63% |
Ready to explore and go out on the town? This chart below gives you the full scoop on Charlotte's neighborhoods.
| Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|
| 4th Ward Historic District | $2,226 | 6.52% |
| Ashley Park | $1,475 | -19.24% |
| Ballantyne East | $1,470 | 0.62% |
| Ballantyne West | $1,351 | -17.94% |
| Becton Park | $921 | N/A |
| Berewick | $1,102 | 13.71% |
| Beverly Crest | $1,275 | 14.22% |
| Beverly Woods | $1,445 | -6.89% |
| Bradfield Farms | $1,284 | N/A |
| Brown Road* | $2,074 | 31.93% |
| Carmel | $1,280 | 2.00% |
| Center City | $1,754 | 5.36% |
| Coliseum Drive | $1,095 | N/A |
| College Downs | $1,104 | 9.91% |
| Commonwealth | $1,511 | 4.53% |
| Country Club Heights | $941 | -0.94% |
| Dilworth | $2,106 | 29.88% |
| Dixie - Berryhill | $1,102 | 13.71% |
| Eagle Lake | $1,278 | -11.18% |
| East Forest | $929 | -1.20% |
| Eastside | $934 | 4.09% |
| Elizabeth | $1,551 | -8.05% |
| Farm Pond | $965 | 4.63% |
| First Ward | $1,837 | 2.37% |
| Fourth Ward | $1,876 | -8.25% |
| Foxcroft | $1,615 | 17.68% |
| Freedom Park | $1,202 | -0.23% |
| Governor's Square | $1,043 | N/A |
| Harris - Houston | $1,072 | 5.27% |
| Hidden Valley | $839 | 2.64% |
| Highland Creek | $1,252 | 3.13% |
| Idlewild Farms | $743 | -0.66% |
| Idlewild South | $1,245 | 6.25% |
| Madison Park | $1,312 | -11.40% |
| Mallard Creek - Withrow Downs | $1,129 | -6.31% |
| Marshbrooke | $1,040 | 7.96% |
| Mountainbrook | $937 | -1.36% |
| Myers Park | $1,461 | -11.51% |
| North Sharon Amity | $799 | -0.52% |
| Northlake | $1,145 | 0.28% |
| Oak Forest* | $1,159 | 60.90% |
| Olde Whitehall | $1,219 | 4.91% |
| Optimist Park | $1,343 | 2.93% |
| Piper Glen Estates | $1,354 | -0.48% |
| Plaza Midwood | $2,443 | 4.67% |
| Prosperity Church Road | $1,394 | 11.86% |
| Providence Park | $1,278 | 0.19% |
| Providence Plantation | $1,239 | 0.21% |
| Shannon Park | $1,073 | 32.59% |
| Sharon Woods | $1,949 | -15.80% |
| South End | $1,860 | -3.00% |
| Southeast Charlotte | $1,350 | -14.40% |
| Southpark | $1,355 | 8.49% |
| Southside Park | $1,695 | -4.13% |
| Southwest Charlotte | $1,186 | 5.40% |
| Starmount Forest | $969 | -0.73% |
| Steele Creek | $1,106 | 6.42% |
| Sterling | $1,096 | 8.05% |
| Sugaw Creek | $1,148 | N/A |
| The North End | $1,402 | -6.83% |
| Third Ward | $1,075 | -35.95% |
| Touchstone Village | $1,267 | 14.99% |
| University City North | $1,309 | 11.13% |
| University City | $1,191 | 4.91% |
| Uptown | $1,824 | -1.78% |
| Villa Heights | $1,448 | 0.60% |
| Wendover - Sedgewood | $1,499 | 18.30% |
| Wesley Heights | $1,325 | 1.67% |
| Wessex Square | $1,134 | 2.28% |
| West Sugar Creek | $1,092 | 8.10% |
| Westside | $1,110 | 0.56% |
| Whiteoak | $1,232 | -4.90% |
| Windsor Park | $900 | -3.95% |
| Yorkmount | $1,234 | 6.17% |
| Yorkshire | $1,065 | -3.07% |
Did you fall in love with the Queen City after getting to know its neighborhoods and enjoying the good weather? From a thriving financial center to its many outdoor spaces and, of course, NASCAR headquarters, Charlotte truly is a great contender for your next home.
Time to find your dream apartment in Charlotte so you can cheer on the Hornets during the NBA season.
Muriel Vega is an Atlanta-based journalist and editor who writes mostly about technology and its intersection with food and culture. She’s the managing editor of tech news publication Hypepotamus, and has contributed to The Guardian, Atlanta magazine, The Washington Post, The Atlantic, VICE and more. She spends her time eating her way through Buford Highway and exploring Atlanta's arts scene.