Rent on the rise in Charlottesville, increasing above national average
CHARLOTTESVILLE, Va. (WVIR) - Rent prices are on the rise in Charlottesville. According to a new rent report from ApartmentList.com, rent increased in the city 1.6% compared to last month. That’s twice as high as the national average of .7%.
Housing Economist Chris Saliviati with Apartment List says if working remotely continues after the pandemic, Charlottesville could see even more growth.
“If it is the case that a lot of employers are allowing a newfound remote flexibility, then places like Charlottesville actually could continue to see a bit of a boom as people move away from places like D.C. to places where they can afford to get a bit more for a bit less,” Saliviati explained.
Over the last year, rent in Charlottesville is up 1.2%, down from 2.6% last year.
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