North Carolina: In the Spotlight
North Carolina, often known as the Tar Heel State, is home to over 10 million people. The state of North Carolina is the 9th most populous state, and is also home to cities like Raleigh, which is the State’s Capital, and has more than 460,000 residents. Charlotte is another key location in the state, with more than 847,000 people calling the city home.
- North Carolina is known as the birthplace of modern aviation, as the Wright Brothers made the first successful powered flight by man at Kill Devil Hill near Kitty Hawk in 1903.
- Msg Holdings LP is the largest employer in North Carolina, with over 10,000 employees.
- Education and Local Government are some of the largest industries in the state.
- The average household income is $54,602.
- The average age in North Carolina is 38 years old.
- The home ownership rate is just under 69%, which leaves 31% of the residents looking for apartments and rental properties.
North Carolina Apartment Loan and Multifamily Property Facts
North Carolina is seeing significant growth in many cities and regions when it comes to new residents seeking rental units. Condos and apartment buildings are growing in popularity once again, and with the development going on in some cities, opportunities will be plentiful for the foreseeable future. The 2020 market, like many, was a little slow, but it still made some big impacts.
- North Carolina is home to several cities that are prime markets for investors to acquire a rental property investment in for 2021.
- Rents in North Carolina are 3% higher than the previous year (2020).
- The average rent in North Carolina is $1,463.
The market for commercial real estate in North Carolina is growing by the day, thanks to a rapidly expanding job market and a growing base of young families who prefer to rent rather than buy a home. Prospective investors who get in now will have a better chance of finding the best financing deals and not overpaying or missing out on the biggest profit potential. The state is expected to see consistent population growth through 2025, contributing to an ever-increasing demand for apartments, condos, and other rental units.
North Carolina Apartment Loan and Lending Options
In the state of North Carolina, there are several different ways that you can finance your new apartment investment, whether you’re looking for a massive multi-unit tower in Charlotte or a simple eight-unit property in an up-and-coming neighborhood of Greensboro. We work with opportunities like:
- Conventional apartment loans
- Fannie Mae apartment financing
- Freddie Mac apartment financing
- FHA/HUD financing
- Mezzanine financing
- CMBS loans
- Bridge loans
- Apartment construction loans
- And more!
Finance Your North Carolina Apartment Building Now
Count on the Apartment.loans team, as we specialize in North Carolina apartment loans and commercial real estate funding. We can help you get the financing that you need for your standard apartment investment, or even help with value-add opportunities and ground-up developments. We have solutions for every investment option and have experience in all kinds of markets throughout North Carolina.
With the help of our experienced team, you will be able to get the loan you need quickly and easily, regardless of whether that’s a basic loan or a special request. Just let us know how we can help, and we’ll make it easy to take your investments to the next level with North Carolina apartment loans. To get started or learn more, contact our North Carolina Apartment Lending Specialists at [email protected] or (800) 567-9631.
Apartment loans from $750,000 and up.