Because of the Queen City’s strong economy and lucrative business district, Charlotte was recently ranked by HomeUnion as an ideal city in which to rent a single-family home. With a 7% cap rate, which is the net operating income for a real estate property, the median price for homes for sale in the Charlotte area in 2016 was $134,000, and resulted in as many as 77% of investors who chose to rent out their properties to renters. Additionally, North Carolina’s housing market was ranked among one of the most improved for home sales in the U.S. since 2012.
Other factors that contributed to Charlotte’s home sales were:
- A high level of cash buyers who purchased 70% of the single-family rental properties available in the city.
- The expected rate for vacancy in single-family rentals is predicted to increase to 8.1%.
Overall, Charlotte’s supply and demand for available homes to rent continues to be viable, with over 12,000 units under construction and 9,000 which will be ready for occupancy by the end of 2017. Of the best neighborhoods from which to choose across the city, you’ll find that Eastover, Downtown Plaza-Midwood, Barclay Downs, Dilworth, and Myers Park have a lot to offer; and, if you are looking for Charlotte suburbs, the top 5 include Davidson, Mooresville, Pineville, Cornelius, and Huntersville are great choices for single-family homes to rent or buy.
Jobs in Charlotte
As more and more businesses and organizations are moving to the area or are expanding, they provide ample job opportunities to existing residents, but will also continue driving new residents to Charlotte and the rest of North Carolina all throughout 2017 and the years ahead.
Here are just a few of the latest happenings with businesses around Charlotte and their current employment outlook:
- Ted’s Montana Grill is having a job fair through April 15th and will need 80 employees, including hosts, bartenders, servers, line cooks, prep cooks, and dishwashers. The restaurant is opening on April 24th.
- Topgolf will be in need of 500 employees for its facility, which is set to open this June.
- Jimmy John’s is hiring at their newest Charlotte location near Montford, and also has plans for an additional location in SouthEnd.
- Southeastern Metal Products will be adding 70 more jobs as part of its $1 million expansion over the course of the next two years.
- In this list of top 50 newest positions in the Charlotte area, companies such as Coca-Cola and Bank of America are actively recruiting for various positions.
Finding Rental Properties and Homes For Sale in Charlotte
If you are an investor looking at single-family homes for sale in Charlotte, or if you are a renter looking to learn more about properties available throughout the city, then let Showcase Realty provide you with the best in customer care.
Home buyers, search Charlotte Homes for Sale today by visiting: www.showcasrealty.com.
With our team of experts, we will help guide you to the best neighborhood that fits your lifestyle and needs, so you can have a place to call home. Contact us today at 704-997-3794 or send us a message here!