<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=3TJkpe_1EjiyClN00" alt="https://img.particlenews.com/image.php?url=3TJkpe_1EjiyClN00" width="1200" height="600" >CHARLOTTESVILLE, Va. (WVIR) -A new rent report shows rents in Charlottesville fell 0.4% in August, compared to a 0.1% increase nationwide.Year-over-year rent growth in Charlottesville now stands at -5.3%, down from +2.2% one year ago.The median rent in Charlottesville is $1,238 for a one-bedroom apartment and $1,575 for a two-bedroom apartment.The drop reflects the market responding to housing demand. About 3,000 new units are currently moving forward, with thousands more in planning stages.Neil Williamson, president of the Free Enterprise Forum, said there has been a need for housing in the area for about 10 years.“There’s a need for housing, there has been for about 10 years,” Williamson said. “More housing, everywhere for everyone helps everyone. So when we have more housing, it tends to make a better community and it tends to allow our current residents to stay here.”August can present skewed numbers for college towns like Charlottesville. Long-term zoning reforms are expected to encourage more housing across the area over the next decade.Do you have a story idea? Send us your news tip here.</div></body>

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CHARLOTTESVILLE, Va. (WVIR) -A new rent report shows rents in Charlottesville fell 0.4% in August, compared to a 0.1% increase nationwide. Year-over-year rent growth in Charlottesville now stands at -5.3%, down from +2.2% one year ago. The median rent in Charlottesville is $1,238 for a one-bedroom apartment and $1,575 for...

Latest rent report for Charlottesville

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CHARLOTTESVILLE, Va. (WVIR) -A new rent report shows rents in Charlottesville fell 0.4% in August, compared to a 0.1% increase nationwide. Year-over-year r

Latest rent report for Charlottesville

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