CHARLOTTE — Construction of single-family rental homes is soaring in the Charlotte area, according to our partners at the Charlotte Observer.
The Observer reports that more than 2,300 “build-to-rent” homes are under construction in the city. There are around 5,300 of those types of homes under construction in the larger metropolitan area.
These homes won’t go on sale to traditional homebuyers, however. They’re being built specifically for renters.
One big factor for the rental house boom is the ability to live in a home without coming up with a down payment.
In Mecklenburg County, the median home price was $445,000 last year, an increase of about 4.7%.
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