Sell Your Commercial Property In Concord, NC

Who rents in Concord

The 2020–2024 American Community Survey counts 108,719 residents in Concord and 13,443 renter households out of 38,669 occupied homes, a 34.8% renter share. That is above Cabarrus County's 28.8% and close to the state's 33.4%. Median household income in the city is $86,921, against $89,005 for the county and $72,388 statewide.

Growth is steady. Cabarrus County reports that its population rose 9.2% between 2020 and 2024, nearly 21,000 residents, and projects another 10.2% by 2030. Atrium Health Cabarrus, a 457-bed hospital in Concord, anchors local health care employment, while Charlotte Motor Speedway, the motorsports shops around it and the retail and distribution businesses near Concord Mills employ many hourly workers. Interstate 85 also links the city to jobs in Charlotte.

Rents and affordability

Concord's median gross rent is $1,451 a month, including utilities, $37 above Cabarrus County and $223 above the state median, though still $161 below Charlotte's $1,612. Despite high incomes, affordability for renters is tight. The ACS shows 50.0% of renter households paying 30% or more of income on rent and utilities, and 21.3% paying half or more, compared with 47.0% at or above the 30% mark countywide. In numbers, 2,868 households pay half or more of income and 3,857 pay between 30% and 49.9%.

Concord falls in HUD's Charlotte-Concord-Gastonia FY2026 Fair Market Rent area:

The one-bedroom FMR is $87 above Concord's median gross rent and the two-bedroom $235 above it. Because the FMR is set for the whole Charlotte area, voucher payment standards can exceed what many of Concord's older units earn on the open market.

The apartment stock

Concord is mostly single-family. Per the ACS, detached houses account for 72.3% of the city's 43,142 housing units, and just 7,502 units, or 17.4%, are in buildings with five or more units, against 11.5% countywide and 14.2% statewide. Within that stock, 2,173 units are in 5–9 unit buildings, 2,776 in 10–19, 1,359 in 20–49 and 1,194 in buildings of 50 or more. Buildings of 5 to 19 units hold 66.0% of apartment units. Two- to four-unit buildings add only 1,711 units, or 4.0%, and mobile homes 3.0%, against 5.8% across Cabarrus County, so there is little small-scale rental housing outside the apartment stock.

The housing is also young. The median structure was built in 1998, seven years newer than the state median, so much of the apartment stock is garden-style product from the past few decades. Downtown Concord holds the city's oldest blocks, while Afton Village is a newer planned neighborhood in the city. Kannapolis and Harrisburg are separate municipalities.

Growth and the cost of owning

The county's growth shows up in ownership costs as well as rents. Cabarrus County's budget announcement puts the median home value at $361,120 and the county tax on that home at $2,080.05 a year, before city taxes. That is the purchase price a Concord household weighs against a median gross rent of $1,451 a month. Ownership also carries city taxes, insurance and maintenance on top of the mortgage, costs that renters pay only indirectly through rent.

Property taxes in Cabarrus County

Apartment buildings are assessed at full value under G.S. 105-284. The county's adopted FY2026-27 budget of $560.9 million, approved June 15, 2026, keeps the rate at 57.6 cents per $100 for a second year. The N.C. Department of Revenue lists Cabarrus County's latest reappraisal as 2024 and its next as 2028.

The City of Concord's recommended FY2027 budget of $402.4 million kept the city rate at 42 cents per $100, and the city's budget page says the budget was adopted as recommended. It includes $1.8 million for affordable housing work, including a partnership with WeBuild Concord. The combined county and city rate of 99.6 cents comes to about $19,920 a year on a building assessed at $2 million. A sale does not reset the assessed value, and the deed excise tax under G.S. 105-228.30 is $4,000 on a $2 million sale.

Landlord rules

G.S. 42-14.1 prohibits local rent control and local voucher-acceptance mandates. G.S. 42-51 caps deposits at 1.5 months' rent for month-to-month tenancies and two months' rent for longer terms, G.S. 42-52 requires an itemized accounting within 30 days after a tenancy ends, and G.S. 42-3 allows lease forfeiture when rent is unpaid 10 days after demand. G.S. 160D-1207 bars blanket rental registration, allowing it only for properties with repeated verified violations or high crime and disorder activity.

What this means if you own a building here

Concord combines high rents, rising population and a thin apartment supply, which supports pricing for well-kept buildings. Buyers will look at the 2028 reappraisal and at how far in-place rents sit below the Charlotte-area FMR. Skyline Capital Investments buys 5+ unit buildings in Concord, Kannapolis, Harrisburg and Afton Village. Estimate value with our apartment building value calculator, or see how we make offers on the sell your apartment building page.