Need Another Reason To Stop Renting And To Buy A Charlotte Area Home?
We already know many of the reasons it makes sense to stop renting and to buy a home:
- To have a hedge against inflation and to fix your housing costs for years to come
- To stop paying your landlord's mortgage
- To take advantage of tax benefits
- To build wealth long-term
- To have control over the space you live in
- Owning a home remains a cornerstone of the American Dream
As if these reasons aren't enough, ApartmentList.com's recent Charlotte Rent Report ranked Charlotte #10 for the Fastest Increases in Rents in the USA year-over-year! And RentCafe.com and RentJungle.com show Charlotte rental rates increasing even faster than ApartmentList. But one thing is crystal clear -- Charlotte rental costs keep going up and will likely continue to do so. Don't get caught in the rental trap in 2019!
Growth In Charlotte Rents Over Past 12 Month Compared With North Carolina & USA
Charlotte's median rent increased 2.5% compared with the same time one year ago. Median rents in Charlotte are $970 for a one-bedroom apartment and $1,130 for a two-bedroom. This is the fourth straight month that Charlotte has seen rent increases after a decline in November 2018. Charlotte's year-over-year rent growth is a bit lower than the state average of 2.6%, but is almost double the national average of 1.3%.
Rental Trends For Charlotte vs. National Comparisons: March 2019
Although Charlotte is more affordable than other cities, median rents in Charlotte for a 2-bedroom home have risen almost twice as fast at 2.5% versus the national average where median rental prices increased 1.3%.
Median Rental Prices For Charlotte Region Cities & Towns
As this graph clearly shows, rental rates are not going down in any of the towns and cities in the Charlotte region, either in North Carolina or South Carolina on a year-over-year basis. There is little to indicated that we will see a fall back in rental rates any time soon. The time to buy is NOW.
If you're a Charlotte area renter who wants to stop paying your landlord's mortgage, lock in your housing costs, build wealth, and become a homeowner, you can:
This information about the advantages of buying a home versus renting is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts. We have been opening doors to homeownership for Charlotte region renters for 20+ years. We can open the door to your dream home, too!
If you're considering purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:
Originally publised at: https://greathomesincharlotte.com/buying/time-to-stop-renting/