Rents Rising Faster Than Wages In Mecklenburg County

Rents are rising faster than wages in Mecklenburg County in 2018, according to data released in a new report by the real estate research firm ATTOM Data. The report analyzed single family rentals in U.S. counties with a population of at least 100,000 and found that rents rose faster than wages in the majority of counties, including in 14 North Carolina counties.

According to the report, rents rose faster in 375 of the 449 counties analyzed in the report or in 84 percent of counties analyzed. The report also looked at the best counties in the U.S. to buy single family rentals in 2018 and Mecklenburg County was ranked no.288.

For 2018, the monthly rent on a three-bedroom was $1,403 in Mecklenburg County, according to ATTOM.

Over the past year, rents went up 7 percent in Mecklenburg County while the median sales price of a single family rental went up 3 percent. According to the report, Mecklenburg County has an annual gross rental yield of 7.6 percent.

ATTOM used data from the Department of Housing and Urban Development (HUD) and publicly recorded sales deed data collected and licensed by the firm.

Read the full report from ATTOM Data here.

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