For most people, a home is the biggest purchase of their lives. For big firms buying up thousands of houses to rent out, the deals are figures on a spreadsheet.
The numbers behind those deals can be tough to tease out of thousands of individual property records. The biggest single-family rental house companies are publicly traded, which means they regularly report on their finances for investors.
That offers a window into how much they’ve spent on houses across Charlotte. Here’s what three of the biggest companies have invested in Charlotte-area real estate, according to their public filings:
Invitation Homes: 3,110 homes owned
Digital Access for only $0.99
For the most comprehensive local coverage, subscribe today.
Average purchase price: $134,464*
Additional average renovation/improvement cost: $21,891*
Average monthly rent charged: $1,385
American Homes 4 Rent: 3,056 homes owned
Average purchase price: $160,135*
Additional average renovation/improvement cost: $14,623*
Average monthly rent charged: $1,490
Average square footage: 2,049
Tricon: 1,807 homes owned
Average purchase price: $101,000
Additional average renovation/improvement cost: $30,000
Average monthly rent charged: $1,093
Average square footage: 1,542
*(As of 2016. Estimates based on annual report)