Rental Homes in Charlotte, NC
(2024 Case Study)
By: 
Fact CheckedThis month, our team at Cash House Closers took a close look at the rental market in Charlotte, NC, to better understand rentals in this area.
As part of doing business, we buy homes and turn them into rentals so this research was critical for us to better understand rentals as an exit strategy in Charlotte.
Here’s what we found out:
Key Takeaways
- On average, a rental home in Charlotte will run you $1,995 per month.
- 27% of all rentals in the area are actual single-family homes (vs. apartments, condos, etc.)
- 26% of rentals are 3-bedroom units.
The Median Rental Rate for Charlotte is $1,995
After researching the various rental listings and descriptions in Charlotte, NC, we discovered that the median rental rate in Charlotte is $1,995. This is 4.9% lower than the national average of $2,099.
We also noticed that when considering all rental data available in Charlotte, the typical range (25th – 75th percentiles) is roughly between $1,000 and $2,500 per month. There are only a handful of landlords charging more than ~$2,500 – these are luxury or high-end rentals.
When compared to other places in North Carolina, such as Raleigh, Asheville, Winston-Salem, and Durham, Charlotte’s house rental rates are almost comparable.
Other locations, such as Hickory, however, have cheaper housing options.
Related: Can you sell a house with tenants?
Charlotte, NC, Offers 29% More Long-Term Rentals Than Short-Term Rentals
My team also noticed that Charlotte, NC lists 29% more long-term rental homes for lease than short-term rental houses. While most listings are for long-term rentals, it was surprising just how much of the rental market was for short-term and mid-term rentals – a whopping 44%!
For the most part, these rental listings in Charlotte were active and available. However, there were a few already scooped up by tenants or “pending contract”. In a populated market like Charlotte, numbers can change quickly.
As pointed out above, many of the rentals were for an entire single-family home. However, there are other larger companies in Charlotte who have apartment buildings and townhomes for lease. Some of the major landlords in Charlotte include Cushman & Wakefield, RPM Living, Carter Haston, S2 Residential and Greystar Management Services.
Important note: not every rental unit is equal. Some have dedicated parking spaces, indoor garages, storage units and swimming pools. These perks often garner a larger monthly rental price.
27% of rental units in Charlotte, NC are for single-family houses or townhomes
Under half of the rentals were for an entire single-family home or townhome. In Charlotte, you can also rent an apartments, condominiums, cooperative units or similar types of places.
About 35.3% of All Rentals in Charlotte Are 3-Bedrooms or More
Most rentals with 3-bedrooms also have 1+ bathrooms.
Though there are some rentals that are categorized as studios or efficiencies, there is not a lot of those available.
And, as one might expect, the more bedrooms your rental house has…the bigger the price you will pay per month.
The market rate for 3-bedroom homes in Charlotte, NC is currently $1,950. However, adding in another bedroom can significantly bump up the overall price tag.
Top 5 Rental Homes in Charlotte, NC
After reviewing a sample of homes available for lease in Charlotte, NC, we pulled out some current listings that we thought had potential:
- One-Bedroom Rental Option: The Reserve at Providence offers a fantastic one-bedroom option that will come equipped with a full kitchen and bath. $1,046 for 510 square feet of luxury.
- Two-Bedroom Rental Option: The Ellis sports a 2 bedroom/2 bathroom option at opulent price point of $2,243. This is much higher than average for the rental size, but also comes with a library, pool, and pet-approved accommodations.
- Three-Bedroom Rental Option: Take a break from the city life and move into this 3 bedroom unit at Ivy Hollow. $1,549 per month will get you access to off-street parking, a fitness center and club house.
- Four-Bedroom Rental Option: This home on Woody Grove Ln. won’t last long. At $3,300 per month, you can move in and make it a secluded retreat. Lots of space and yard to enjoy in this South Park neighborhood.
- Our Favorite Rental Option: Not every 5 bedroom rental house needs to break the bank. Camden Meadow Dr. is all you and your family need at $2,855 monthly.
There were hundreds of other available properties, but this should give you a good taste of how the pricing and rental terms can fluctuate on a case by case basis.
Conclusion
In general, Charlotte, NC, presents an “okay” rental market for those looking move to or relocate within. It’s certainly not the most expensive city, but it’s also not the cheapest by any means.
Rental options are plentiful at the time of writing this case study if you’re a prospective tenant in Charlotte.
If you already own a rental house and you’re interested in selling, my team and I can help you get it done quickly and seamlessly. Find out here how you can sell your house fast in Charlotte.
One last tip: selling a house that is already occupied by tenants is usually more challenging. However, it doesn’t have to be if you have work with a cash home buyer in Charlotte, NC.
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Other Resources & Articles From Doug
Author: Doug Greene
Doug brings over a decade of real estate and business experience to his content. Educating homeowners and helping sellers with their properties is his passion.
His contributions have been featured on Realtor.com, Washington Post, Apartment Therapy, HomeLight, Better Homes & Gardens and many more.