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Top 5 Reasons to Invest in Rental Properties in North Carolina

Top 5 Reasons to Invest in Rental Properties in North Carolina

The Charlotte rental market is hot and shows no signs of stopping. In July 2022, the average rent was $1639 which is up from $1200 in March 2019. 

If you are a real estate investor looking to expand into the Charlotte, North Carolina market, then all signs point towards go. Keep reading to find out why you should invest in rental properties in North Carolina. 

1. Strong Population Growth

North Carolina's population is growing at a rapid rate, as lots of Americans are realizing the benefits of living there. Between the April 1, 2020 Census count and July 1, 2021, North Carolina added 112,000 people. The state is the 9th largest in the US and had a total population of 10.6 million in July 2021 at the last Census count. 

2. Millennials Swarming to Certain Counties

There are so many well-known universities in Charlotte, North Carolina, like:

  • University of North Carolina--Charlotte
  • Davidson College
  • Catawba College
  • Queens University of Charlotte

This is causing younger folks to swarm over to Charlotte. Renters (both millennials and older) want to partake in this university-town atmosphere, which has lots of fun activities, bars, pubs, and more.

3. Lots of Employment Opportunities in North Carolina

Many knowledge-based industries like energy, finance, IT, and biotech have situated themselves in Charlotte, North Carolina. This is great news for anyone who's searching for a job. 

The state enjoys job growth continuously and also low unemployment rates, both things folks search for when looking for a new home. Take advantage of this boom by purchasing cheap rental properties in Charlotte.

4. Increasing Rental Demand

All the aforementioned reasons like good job opportunities and more cause younger people to flock over to Charlotte. Since they don't have enough cash to buy a home yet, they are going to search for appropriate rentals and you can help fill in that gap.

And if you are a good landlord who takes care of tenants well, you will have loyal renters who will want to stay with you for a long time to come.

5. Affordable Entry Prices for Homes

Charlotte is also quite affordable both for renters and buyers, which means that you won't have to worry about getting a massive mortgage approved. New houses sell for around $185,100 in Charlotte.

The low property prices ensure that your return on investment (ROI) is that much higher. Take advantage of the low prices for now before they zoom up like every other part of the United States. 

If you're selling a home in Charlotte, North Carolina, and want to know how to avoid some common marketing pitfalls, follow this link. 

Invest in Rental Properties in North Carolina

There are many reasons to invest in rental properties in Charlotte and very few reasons not to. If you haven't jumped into this market yet, what are you waiting for?

It's cheap to buy a rental property investment here and even easier to rent it out to all the eager populace. Once you have your rental property in place, you will want to get a trusted property management company to take care of it for you.

Carolina Property Management is a full-service property management and real estate service built to fit your needs as a landlord. Contact us today to enquire more about how we can help you make more money from your rental business. 

Please click here for Charlotte, North Carolina investment success quotations.