Job Growth Drives Charlotte, N.C. Rental Market

Higher education and strong job growth drive Charlotte rental market

Charlotte SkylineCharlotte is one of the few places in the United States that has celebrated two years of improvement across all major employment sectors and has added over 32,000 jobs to the metro area. Two sectors with notable measures of growth were hospitality, which added 8,600 positions, and the construction industry, which is attempting to keep pace with the high demand for housing in the region.

Furthermore, as America’s second largest financial market, Charlotte is home to Bank of America’s headquarters and the Eastern operations center for Wells Fargo, but isn’t driven solely by the financial services sector. The region is also home to Lowe’s, Family Dollar, Duke Energy, Food Lion, and many other Fortune 500 companies.

The high demand for housing in Charlotte is not only spurred by the strong job market and healthy economy, but also the higher education community in the area. In total, there are over 30 colleges, which are comprised of 10 universities and numerous community colleges.

Owning single-family rentals has been quite lucrative for many investors around the country, and areas like the Charlotte metro show that this is a great time to purchase an investment property. A strong economic base, continued job growth, and a higher learning community are just some of the many factors HomeUnion® looks at when evaluating a neighborhood. Learn more about why Charlotte presents a strong opportunity for investing in our detailed market report.

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