It's Still Cheaper to Rent Apartments in the Charlotte, NC Area

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While buying a home is still more affordable than renting in more than half of U.S. markets, the Charlotte area is not one of them, according to RealtyTrac Inc. In its recent 2016 Rental Affordability Analysis, RealtyTrac tallied 504 counties and found that for 58% of those housing markets, buying is more inexpensive than renting a home. However, in Charlotte's Mecklenburg County, renting was just slightly more affordable than buying, with residents expected to spend 26.7% of their average monthly wages on renting a three-bedroom apartment versus 27.6% of monthly income on house payments.
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