North Carolina's Build-to-Rent Boom

Built-for-rent (BFR) homes have seen substantial growth nationwide over the past three years. A recent National Apartment Association (NAA) article, citing Census Bureau data, reported that the number of BFR units started rose from 60,000 in 2021 to 90,000 in 2024, reflecting a strong and accelerating trend in this housing sector.

In 2025, North Carolina is expected to experience a significant surge in build-to-rent (BTR) housing, with Charlotte and Raleigh leading the state. This growth is driven by robust job markets, proximity to major universities, and a rising population of remote workers and students.

According to a Point2Homes report titled, North Carolina Among Southeast’s Build-to-Rent Leaders, Charlotte and Raleigh are set to dominate the state’s BTR expansion, with projections of over 5,300 units in Charlotte and 2,900 units in Raleigh. Meanwhile, Wilmington is also emerging as a key market, with an expected 1,800 BTR units in development.

On a national scale, Charlotte stands out as one of the fastest-growing BTR markets. Berkadia reports that the city has approximately 4,156 BTR units currently under construction, set for delivery this year or next. This places Charlotte second only to Phoenix, Arizona, in terms of new BTR pipeline volume, solidifying its position as a major hub for this housing trend.