Renters across the country are starting to see some relief as the typical late-summer slowdown in the rental market takes hold. Apartment List’s newest report shows nationwide rents fell in August, continuing a seasonal trend that experts expect will last through the end of the year.

Nationally, rents declined 0.2% last month, with economists predicting additional month-over-month drops for the next four to five months as moving activity eases. Year-over-year, rents are down 0.9%, the lowest level since December 2023. Seasonal declines are common, but this year’s slowdown appears sharper as demand softens compared to past years.

In Charlotte, the median rent now stands at $1,418, which is 2.1% lower than last year. That local decline outpaces the statewide average of -1.8% and the nation

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