Real estate investors in North Carolina saw strong year over year growth according to a new report from Rent.com. The team at Rent.com just released their Quarterly Average Rent Price Trends Report: Q3 2021.
The analysis had plenty of good news for North Carolina real estate investors. While the report showed good growth in rents on a national scale:
- 1-BR: $1,690 (+10.59%)
- 2-BR: $2,050 (+11.88%)
The average across North Carolina dwarfed the national average coming in at:
- 1-BR: $1,378 (+21.85%)
- 2-BR: $1,597 (+22.86%)
There definitely are differences in rent appreciations across markets in North Carolina and any investor new to a specific market should do some research on what rent appreciations are like in the specific market.
As ABC 11 reported, “A partner at Dogwood Properties, one of the Triangle’s largest property management groups, says rent for single-family homes, in particular, have become astronomical and rents have gone up 40 percent in Durham.”
While not all markets in North Carolina are seeing the type of appreciation the Raleigh-Durham area is, the savvy investor can likely find opportunities in emerging North Carolina markets like Greensboro, Winston-Salem, or Rocky Mount.