Looking to invest in single-family rentals (SFR) in Charlotte, NC? Not only is the SFR market in Charlotte currently thriving, but it is also ranked #19 for total renter-occupied single-family homes according to John Burns Real Estate Consulting and Research Firm. This robust market has a growing population, strong employment, and high demand for rental properties, all the attributes that savvy investors are looking for at this point in the real estate cycle.
In fact, Charlotte has seen a 17% increase in population growth from 2010 to 2020. This growth is expected to continue, with projections showing the city’s population reaching 1.2 million by 2040. With more people comes more demand for housing and this has led to an increased need for rental properties, particularly SFR.
Similarly, Charlotte’s employment prospects are also quite healthy. Major employers in the area include Bank of America, Wells Fargo, and Lowe’s, who maintain their corporate headquarters in the city. This strong job market is attracting a significant number of young professionals to the city, many of whom prefer the flexibility of renting over buying, especially in today’s ever-changing housing market environment.
In addition, Charlotte has seen steady home price appreciation (HPA) in recent years. For example, according to Redfin, Charlotte home prices were up 6.1% compared to last year, selling for a median price of $382K. Although the price of homes has risen, the cost of living in Charlotte is still relatively affordable compared to other major cities, making it an appealing option for those looking to invest in rental properties.
Lastly, the COVID pandemic has also had a positive impact on the SFR market in Charlotte. It was a common theme during 2019-2021 to see people opting to move to less densely populated areas. This made the demand for single-family homes in Charlotte surge. Just like population increases, this trend is expected to continue as people prioritize more space and privacy in their living arrangements.
To put it simply, the current state of the SFR market in Charlotte is strong. As mentioned, its growing population, flourishing job market, and a steady HPA make investment in the city axiomatic.
Charlotte should be a top consideration for anyone looking to invest in SFR as part of their fund strategy.
To check out our current SFR portfolios for sale, visit here > https://sylvanre.com/sfr-portfolios/. For any questions related to this article or if you are interested in investing in SFR portfolios in Charlotte, please contact Becca Stapp at bstapp@sylvanre.com.
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