The rental market is hot for real estate investors now! Rental rates continue to rise and according to the following report from the Mecklenburg Times, Charlotte has the 2nd highest rents in the state. Rates are rising in the entire country. This is the real estate investors’ happy place, however, the market is competitive, as well. If an investor offers an inviting house which means that it presents well – clean, no trash, broken windows, marked up walls, it should be pretty easy to find a good qualified tenant. In addition to rents rising, we also have to remember there are those who are not running to the purchase homes right now. So, the stage is set, the rest is up to you as the investor!!!
Charlotte rents up 3.5% in June
By: Roberta Fuchs July 1, 2016
Charlotte is the second-most expensive city in which to rent in North Carolina. That’s according to a recent report by Apartment List, which put the median cost of renting a two-bedroom apartment in the Queen City at $1,150 in June.
Charlotte also had the second-highest rate of rental growth in the state, with rents rising 3.5 percent from June 2015.
Asheville came in as the most expensive N.C. city for renters, with the median price on a two-bedroom unit at $1,200. In addition to being the most costly, Ashville rents showed the most year-over-year growth, at 5.6 percent.
Nationally, rents increased 2 percent in June from a year earlier. The median price for a two-bedroom apartment came in at $1,300 last month.
Apartment List said that annual rent growth was strongest in Colorado Springs, Colorado, where rents rose 9 percent from a year ago to $1,000 per month.
Despite a 1.5 percent drop in the median rent over the last year, San Francisco continues to be the most expensive city in the nation. Median rents on two-bedroom units were $4,650 in June.
New York City, where rents have dropped 0.4 percent since over the last year, came in second, with median rents at $4,600.
The least expensive city in which to rent was Huntsville, Alabama, where the median rent on a two-bedroom apartment was $580 last month. Fort Wayne, Indiana, ranked second-lowest for cost, at $640.
Apartment List, based in San Francisco, publishes its rent reports each month. The company’s website aids potential renters in finding an apartment via the listing of several hundred thousand available properties.
