Charlotte, North Carolina, is preparing for a surge of new build-to-rent (BTR) communities, with approximately 4,156 BTR units under construction across the metro set to deliver this year or next, placing Charlotte second only to Phoenix, Arizona, in terms of new pipeline.
“Charlotte is ahead of the curve in catering to this renter segment,” said Caleb Troop, Senior Managing Director of Berkadia Charlotte. “We think this speaks to the strong demand for alternative rental choices in the Charlotte metro, where in-migration and job growth continues to outperform other parts of the country.”
In 2024, the Charlotte MSA saw roughly 3,000 BTR units deliver across 29 communities. Of the 4,156 units under construction, 64% of them are inside of Mecklenburg County and are a mix of one- to three-level detached or attached homes.
“Today’s renters want the conveniences and comforts of a townhome or single-family home, particularly as persistently high interest rates make home buying less affordable,” added Troop. “The added benefits of garages, which provide direct entry to the unit, along with pet- and kid-friendly yards, are very appealing.”
Zillow recently named Charlotte one of the top 10 hottest housing markets in 2025, and U-Haul listed Charlotte among the top 5 metros for in-migration/new resident growth this past year. North Carolina is projected to grow by 427,200 residents, or 3.9%, from 2024 to 2029, according to Berkadia/RealPage data.
BTR is a type of residential rental product consisting of attached and detached single-family homes or townhomes that are professionally managed. Often viewed as an extension of traditional multifamily apartments, the BTR product is characterized by the fact that no one lives above or below the renter, the home typically has high-end finishes and often offers garages and backyards.