Winston-Salem, North Carolina (NC) Rental Market

[Tony S.]

What is the rental market in Winston-Salem, NC like?    

I see a lot of 2 beds/1 baths for sale in Winston-Salem at a price that would be killer deals here in the Charlotte greater areas, so I'm trying to figure out what's going on in Winston-Salem since it's only 1.5 hours away from Charlotte, NC.  Are there no investors competing for homes there?  Or is the rental market over-saturated such that the lack of demand for rentals commands a lower purchase price?  

Would appreciate any responses from anyone with rentals in Winston-Salem.  Thanks,

Anatoly 

[Michael Bowman]

Hey Anatoly! 

The market in the Triad is significantly slower than Charlotte. To compare the two would be an egregious error. Charlotte is one of the fastest growing cities in america. From the property values to the rental rates, we have it made here. Our average DOM is 21-30 days here in the Charlotte Proper, and around 45 DOM in the Triad. 

There is significantly more inventory there, prices are much lower, and there isn't the supply and demand crisis that there is in Charlotte. 

That said, a lot of our investors here in Charlotte have been priced out of this market and are heading up north. The returns in the Triad are much more attractive from a pure numbers perspective. 

Just some random thoughts all across the board. Hope that helps!