Charlotte Ranks Second in Nation for Build-to-Rent Home Growth With 4,156 Units Planned
Charlotte’s metro area is set to add 4,156 rental homes, putting it just behind Phoenix in build-to-rent growth. This boom places North Carolina among the leaders in rental development across the country. U-Haul puts the area in its top 5 for growth from newcomers, while Zillow sees Charlotte as a hot housing market for 2025.
With 427,200 new residents expected by 2029, a 3.9% population jump according to Berkadia/RealPage, housing demand continues to climb. This influx of newcomers is changing how developers approach home construction.
Builders are now developing entire communities of single-family rentals. These homes cost about the same as apartments but give residents more living space, their own yards, and the community feeling many people want. Crescent Communities rolled out 76 townhomes last year as part of their 750-unit collection. “We’re actually seeing a lot of residents who probably would typically look at a two-bedroom apartment, but now they get more square footage,” said Tony Chen to Axios Charlotte.
At The Lodges communities in Fort Mill and Huntersville, Northwood Ravin combines home-style living with apartment amenities. CEO David Ravin told Axios Charlotte, “Many mistakenly inquire about purchasing them instead of recognizing them as rental options.”
These rentals fill a gap for people caught between wanting to own a house and being able to afford one. There’s no need for a down payment – just move in and let the landlord handle maintenance. As cities grow, this new housing approach helps bridge the gap. It’s not exactly an apartment, not quite a regular house, but it fits what today’s renters need. North Carolina leads most states in building these combo homes, supported by stable jobs and a robust market that keeps drawing people in.