Charlottesville rent prices stabilizing after pandemic boom

Published: Feb. 7, 2023 at 2:54 PM EST
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CHARLOTTESVILLE, Va. (WVIR) - If you are planning on moving to Charlottesville or the surrounding area, this may be the time to do it.

Rob Warnock with ApartmentList says that the price of rent in the city has begun to stabilize since the nearly 14% spike back in 2021.

The demand for housing skyrocketed in metropolitan areas due to the boom in the economy following the pandemic, causing the initial increase in rent.

Now, in 2023, Warnock feels that rent is following its normal historical upward trend.

“It’s important to keep in mind that the natural state of the market is to get more expensive over time,” Warnock said.

And as many college cities like Charlottesville are becoming more virtual, the market continues to stabilize.

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