Rent vs Buy in Charlotte, NC

Should you rent or buy a home in Charlotte? Use our calculator with local market data to make an informed decision.

Median Home Price
$380,000
Median Rent
$1,750/mo
Property Tax Rate
0.84%
Price-to-Rent Ratio
18.1x

Rent vs Buy in Charlotte, North Carolina

Should you rent or buy a home? Calculate your best option.

Your Scenario

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$
%
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7 years
1 years30 years

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Adjust these sliders to see how different assumptions affect your decision.

Mortgage Rate7.00%
5%7%9%
Home Appreciation3.0%
0%3%5%
Rent Growth3.0%
0%3%6%
Time Horizon7 years
35710

💡 Tips

  • • Higher mortgage rates favor renting
  • • Higher home appreciation favors buying
  • • Higher rent growth favors buying
  • • Longer time horizons typically favor buying
⚖️It's a Toss-Up

You could save $1,200 by renting

Over 7 years

Monthly Cost (Rent)
$1,916
Average
Monthly Cost (Own)
$2,821
Average (excl. equity)
Total Rent Paid
$160,912
Total Owner Costs
$324,334
Final Equity
$162,223
After selling costs
Break-Even Year
Never
Beyond horizon

Upfront Costs to Buy

Down Payment (20%)$76,000
Closing Costs (3%)$11,400
Total Needed$87,400

Cost Comparison Over Time

$324,334$259,467$194,601$129,734$64,867$00y1y2y3y4y5y6y7y
Total Rent Paid
Total Owner Costs
Net Cost (After Equity)
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About Buying vs Renting in Charlotte

The decision to rent or buy in Charlotte, North Carolina depends on many factors including your financial situation, how long you plan to stay, and current market conditions.

With a median home price of $380,000 and median rent of $1,750 per month, Charlotte has a price-to-rent ratio of 18.1. This moderate ratio means both options could work depending on your circumstances.

Use our calculator above to input your specific scenario and see a personalized analysis. Adjust the time horizon, mortgage rate, and other factors to explore different outcomes.