Charlotte Ranks Second Nationally for Build-to-Rent Construction

Did you know that the Charlotte metro has one of the largest build-to-rent construction pipelines in the country?

Berkadia reported that approximately 4,156 build-to-rent homes were under construction across the Charlotte region, placing the metro second nationally behind Phoenix. The same report found that roughly 3,000 build-to-rent homes were delivered across 29 Charlotte-area communities in 2024.

Build-to-rent communities, professionally managed neighborhoods of attached or detached single-family rental homes and townhomes, expand the range of housing available to residents. They can offer the space, privacy, garages, and yards associated with a single-family home while preserving the flexibility and maintenance-free experience of renting.

That growing housing choice makes the final version of the 21st Century ROAD to Housing Act especially important. Earlier language could have forced certain institutional owners to sell newly constructed rental homes after a set period, discouraging investment and reducing future supply. The revised bipartisan legislation removed that forced-sale provision and preserved a workable path for purpose-built rental communities. The measure became law on July 11.

GCAA is pleased that Congress recognized an important distinction: acquiring existing homes and building entirely new rental communities are not the same activity. Purpose-built rental housing adds homes to the market, broadens consumer choice, and can help a growing region meet demand.

Key takeaway:
Charlotte's second-place national ranking reflects strong demand for more housing choices. Public policy should encourage the production of new homes, including apartments, townhomes, and build-to-rent communities, rather than unintentionally making new supply harder to finance or build.