Corporate Landlords Expand Presence in Charlotte's Housing Market

Corporate landlords have significantly increased their footprint in Charlotte's housing market, now owning approximately 22,000 single-family homes in Mecklenburg County as of 2023. This marks a substantial rise from previous years, with corporate ownership now accounting for about 8% of the county's single-family housing stock. 

 

The UNC Charlotte Urban Institute's recent report highlights that these corporate entities have concentrated their acquisitions in specific areas, notably northwest Charlotte neighborhoods like Coulwood and Oakdale, as well as northeast Charlotte's University City and parts of Steele Creek in the southwest. In some of these communities, corporate ownership exceeds 20% of single-family homes.

 

Residents have expressed growing concerns over this trend. A survey conducted by the UNC Charlotte Urban Institute revealed that 75% of respondents felt negatively impacted by corporate landlords, citing issues such as rising rents, maintenance neglect, and a perceived lack of community engagement.

 

In response to these concerns, Mecklenburg County officials have initiated public forums to gather input on the impact of corporate home purchases. The county is collaborating with the Lee Institute to conduct a comprehensive public participation process, aiming to inform future policy decisions.

 

The rise of corporate landlords in Charlotte reflects a broader national trend, with institutional investors increasingly targeting single-family homes for rental purposes. This shift has sparked debates over housing affordability and the accessibility of homeownership for local residents.

 

As the situation evolves, community members and policymakers continue to seek solutions that balance investment interests with the needs of Charlotte's residents.