NC is a top 5 best state for renters in the nation, study shows. Here's how it compares. (2024)

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NC is a top 5 best state for renters in the nation, study shows. Here's how it compares.? ›

The ConsumerAffairs study placed N.C. at fifth in the nation for best states for renters based on percentages of household income going toward rent, costs of living, rent prices, percentage of units built after 2000, likelihood of having tenant-friendly eviction laws and rental availability.

From supply and demand and turnover expenses to inflation Hege said that are several factors that drive rent prices up. He added that landlords are also seeing their expenses increase. “If your insurance has gone up, your taxes have gone up and just generally, the cost for doing repairs have gone up,” Hege said.

Because the state is located in a hurricane zone, hurricanes in North Carolina are expected to take place on an average of one to three years. Aside from hurricanes, tornadoes, flooding, and bad storms are also quite prevalent.

North Carolina is considered a landlord-friendly state because of the lack of rent control laws and the ability to enter without notice or permission.

No, North Carolina does not impose a state-wide limit on how much a landlord can increase rent. Landlords are free to set and adjust rent prices as they deem necessary, provided they give proper notice, which is typically 30 days for month-to-month leases.

Prices can change quickly, but in 2022, the median price for a family home in North Carolina was $369,500. That's one percent lower than the national median price of $375,000. For renters, the median monthly rent for a two-bedroom apartment in North Carolina was $1,137, compared with the national median of $1,286.

Lower Cost of Living

According to mylifeelsewhere.com, Florida is 4.0% more expensive than North Carolina overall in terms of restaurants, entertainment, and groceries, making it a very attractive destination for many people. In comparison to Florida, living expenses in North Carolina are relatively lower.

In addition to being named the top place to live in North Carolina, Raleigh was also among the top 25 best cities in America, best cities to raise a family and with the best public schools in the country, according to Niche.

Landlords cannot force tenants out of their homes without going to court, for instance, by changing the locks, turning off utilities or removing the doors. Landlords may send tenants “eviction notices” warning tenants that they plan to file for eviction unless the tenant moves out first.

What is the 42-14 law in NC? ›

14(c).) § 42‑14. Notice to quit in certain tenancies. A tenancy from year to year may be terminated by a notice to quit given one month or more before the end of the current year of the tenancy; a tenancy from month to month by a like notice of seven days; a tenancy from week to week, of two days.

“People are moving to North Carolina because it's such a diverse state,” Kay Church, U-Haul of West Charlotte president, said in a news release. “We have mountains and beaches, small towns and big cities. You name it, you can find it in North Carolina.”

People living in North Carolina are some of the friendliest and most welcoming people you will ever meet. It won't take long for North Carolina newcomers to experience some Southern charm. No matter where you come from or what your story is, people will always wave and say hi when you walk by.

Tenants can negotiate with the landlord, or, in cases where they believe the increase is retaliatory or discriminatory, they can seek legal counsel. North Carolina law prohibits landlords from retaliating against tenants for exercising their legal rights.

The pandemic and inflation have both played a role in pushing rents higher, but Whitney Airgood-Obrycki, senior research associate at Harvard's Joint Center on Housing Studies, says it's not all bad news.

On Flashpoint, a market analytics director says the dynamic is created by too much supply. CHARLOTTE, N.C. — Renters across the Charlotte welcomed the recent news that, after years of increases, rent dropped 2% over the past year. But the optimism likely won't last.