Does it make more sense to rent or buy in Charlotte NC? This question comes up a lot in light of the apartment construction boom!
Whether you rent or buy has everything to do with your personal financial picture, job stability and future goals. There’s a lot to consider of course, but making the right decision is about understanding your personal motivation and time horizon for the next 5 to 10 years. What are your plans?
Developers recently announced work was beginning on the 24-story SkyHouse Uptown apartment project. There are more than 10,000 apartment units under construction in the Charlotte region, according to research firm Real Data, with another 11,000 proposed.
Apartment construction in the Charlotte region has hit an all-time high, according to the latest report from research firm Real Data, with the average vacancy rate expected to rise during the next year.
There are 10,067 apartments units under construction in the region including 8,122 in Mecklenburg County and an additional 11,003 units proposed, according to the firms latest report. The majority of new projects are Class-A properties in neighborhoods such as uptown, South End, SouthPark, NoDa and Elizabeth.
Over the past five years, the averagenumber ofunits under construction was4,479.