NC’s 3 costliest ZIP codes for apartment renters? They’re all in - | WBTV Charlotte

NC’s 3 costliest ZIP codes for apartment renters? They’re all in Charlotte

Construction of the concrete parking deck at South Boulevard and Poindexter Drive in Charlotte. (Source: Davie Hinshaw | The Charlotte Observer) Construction of the concrete parking deck at South Boulevard and Poindexter Drive in Charlotte. (Source: Davie Hinshaw | The Charlotte Observer)
Construction crews work on apartment buildings in Charlotte. (Source: Molly Mathis | The Charlotte Observer) Construction crews work on apartment buildings in Charlotte. (Source: Molly Mathis | The Charlotte Observer)

CHARLOTTE, N.C. (Wei Zhou | The Charlotte Observer) - This won’t surprise anyone who’s been shopping for apartments in Charlotte lately: The city is home to the top three most expensive ZIP codes for renters in North Carolina, according to data from rentcafe.com, a website that tracks renting prices across the nation.

Average monthly rents for Mecklenburg County’s ZIP Codes 28202, 28203 and 28204 are $1,608, $1,458 and $1,420 respectively. The site did not include rental rates for single-family homes or townhomes in its calculation.

Other cities with ZIP codes in the top 10 were Chapel Hill, Raleigh and Greensboro. All told, 15 of North Carolina’s 50 costliest ZIP codes for renters were in Charlotte, and nine were in Raleigh.

The three costliest are all in or near Charlotte’s center city. ZIP code 28202 includes uptown, First Ward, Third Ward and Fourth Ward. More than 2,000 new apartment unitsare under construction uptown.

Apartment construction is also booming in ZIP code 28203, which includes Dilworth and in South End, where hundreds of apartments are planned in former industrial spaces.

ZIP code 28204’s boundaries include Cherry and Elizabeth neighborhoods. Cherry, the historic African-American neighborhood southeast of uptown, has gentrified in the past few years as big developers coming in to replace the traditional single-family homes with newer apartment complexes.

The increasing supply has tamped down rents just a bit in some areas, rentcafe’s study found. ZIP code 28202 saw a 2 percent decrease in average rent from last year, and 28204 saw average rent fall 6 percent.

Charlotte’s population surge has helped fuel rental prices. The city had added 15, 656 residents in 2016, up 1.9 percent from the previous year. The median rent for a two-bedroom apartment in Charlotte hit $1,100 this June, only behind median rents in cities of Cary and Raleigh, according to rental-listing site Apartments List.

Other areas in Mecklenburg County listed among the top 50:

  • No. 1: 28202 Charlotte $1,608
  • No. 2: 28203 Charlotte $1,458
  • No. 3: 28204 Charlotte $1,420
  • No. 9: 28211 Charlotte $1,292
  • No. 11: 28277 Charlotte $1,261
  • No. 15: 28209 Charlotte $1,179
  • No. 19: 28078 Huntersville $1,145
  • No. 21: 28278 Charlotte $1,141
  • No. 23: 28262 Charlotte $1,125
  • No. 24: 28270 Charlotte $1,124
  • No. 27: 28226 Charlotte $1,115
  • No. 38: 28105 Matthews $1,071
  • No. 39: 28216 Charlotte $1,069
  • No. 40: 28273 Charlotte $1,068
  • No. 43: 28213 Charlotte $1,056
  • No. 44: 28210 Charlotte $1,056
  • No. 45: 28036 Davidson $1,055
  • No. 48: 28269 Charlotte $1,042
  • No. 49: 28134 Pineville $1,034
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