Homes that didn't sell, then went up for rent
1 in 37
60 of 2,188 expired or canceled listings in Brunswick County · last 12 months
Estimated 57% of those owners with a mortgage are losing money every month — a median of about $251.
- Sat unsold first
- 128 days median, after a 3.6% price cut
- Rent asked
- $2,100 a month, median · 7.6% a year of the last price
- Have rented
- 35 median $1,900 · 29 days to lease
- Rental failed too
- 11 expired or pulled with no tenant · 14 still waiting
1 in 37 homes that didn't sell in Brunswick County became a rental
In the last 12 months, 60 of the 2,188 resale listings in Brunswick County that expired or were canceled showed up on the MLS as a rental. They sat a median of 128 days before the owner gave up, and asked a median of $2,100 a month in rent — about 7.6% a year of the price they couldn't get. Based on when they bought, we estimate 57% of the owners with a mortgage take in less rent than the home costs them each month.
- 25 owners listed for rent while the home was still for sale, and 11 signed a lease before the sale listing ran out.
- 35 have rented so far, at a median $1,900 a month, 29 days after the rental was listed.
- 11 rental listings also expired or were pulled without a lease, and 14 are still waiting for a tenant.
- The owners who come up short lose a median of about $251 a month after upkeep and a month of vacancy a year.
- 7% of all rental listings in Brunswick County this past year came from a home that had just failed to sell. Zillow's national figure for homes recently listed for sale is 2.3%.
Does the rent cover the mortgage?
We estimated the monthly cost for the 21 owners whose purchase is in the MLS, using the price they paid, 20% down and the average mortgage rate the week they bought. 9 of them bought in 2022 or later, when rates were 5% to 7%.
A typical owner's month
| Rent | $1,800 |
|---|---|
| Mortgage (principal + interest) | −$810 |
| Property taxes | −$159 |
| Insurance | −$250 |
| HOA dues | −$271 |
| After the payment | $309 |
| Upkeep (1% of value a year) | −$208 |
| Vacancy (one month a year) | −$150 |
| What's left | −$49 |
| A property manager would take another 10% | −$180 |
An estimate, not anyone's actual loan. The example is the real property closest to the median result (not named). Rate: Freddie Mac 30-year fixed average (Primary Mortgage Market Survey) for the week of purchase. Taxes from the MLS tax bill, insurance $250/month, HOA from the listing. Owners who bought 30+ years ago are counted as paid off (0 here). New construction and homes with no purchase record are left out.
Didn't sell? Talk to us before you sign a lease
Most of these homes sat for months and cut their price, then rented for less than they cost to carry. A fresh look at price, condition and who's searching for a home like yours often beats a year as an accidental landlord. If you've already rented, plan the sale before the lease ends.
Two ways owners get here
4 had been rentals before the sale attempt (likely investors) and 16 are new construction (builders renting homes that didn't sell). They're counted here but left out of the mortgage estimates.
Month by month
By the month the sale listing ended. Recent months fill in as more owners list for rent.
Towns in Brunswick County
| Went to rent | Of failed listings | Leased | Median rent | Rent ÷ price | Losing money* | |
|---|---|---|---|---|---|---|
| Leland | 17 | 4.4% | 11 | $2,100 | 8.2% | — |
| Calabash | 11 | 3.9% | 7 | $1,800 | 7.2% | — |
| Ocean Isle Beach | 6 | 2.7% | 4 | $1,875 | 7.4% | — |
| Southport | 6 | 2.4% | 4 | $2,373 | 6.0% | — |
* Estimated share of owners with a mortgage whose rent doesn't cover the payment, upkeep and a month of vacancy a year. "—" = too few purchase records to say.
By last asking price
Higher-priced homes rent for a smaller share of their price, so the gap gets bigger as price goes up.
| Went to rent | Of failed listings | Leased | Median rent | Rent ÷ price | Losing money* | |
|---|---|---|---|---|---|---|
| Under $300K | 33 | 5.9% | 22 | $1,800 | 8.2% | — |
| $300–400K | 13 | 2.5% | 6 | $2,100 | 7.3% | — |
| $400–500K | 7 | 2.3% | 5 | $2,350 | 6.4% | — |
* Estimated share of owners with a mortgage whose rent doesn't cover the payment, upkeep and a month of vacancy a year. "—" = too few purchase records to say.
By type of home
| Went to rent | Of failed listings | Leased | Median rent | Rent ÷ price | Losing money* | |
|---|---|---|---|---|---|---|
| Single-family homes | 30 | 1.9% | 17 | $2,250 | 6.8% | — |
| Townhouses | 17 | 8.1% | 12 | $1,995 | 8.4% | — |
| Condos | 11 | 5.6% | 4 | $1,600 | 7.9% | — |
* Estimated share of owners with a mortgage whose rent doesn't cover the payment, upkeep and a month of vacancy a year. "—" = too few purchase records to say.
How Brunswick County compares
7.0% of the 769 rental listings in Brunswick County over the past year came from a home whose sale listing had just failed. Nationally, Zillow found 2.3% of rental listings had recently been listed for sale — the highest share since late 2022 (Zillow, March 2026). The two aren't measured exactly the same way, but the local rate runs well above the national one.
Questions sellers ask
What is a "rent to survive" home?
A home that was listed for sale, didn't sell, and then went up for rent so the owner could keep up with the payment. Some people call them accidental landlords. In Brunswick County, 60 homes did it in the last 12 months.
Do these homes get the rent they ask?
Mostly. Of the 35 that have leased, the median rent was 100% of the first rent asked, $1,900 a month. 11 rental listings didn't find a tenant at all.
Does the rent cover the mortgage?
Often not. We modeled 21 owners from the price and date they bought (20% down at that week's average rate). For those with a mortgage, 19% take in less rent than the payment with taxes, insurance and HOA, and 57.1% come up short once upkeep and a month of vacancy are counted.
Why do owners rent instead of lowering the price?
Usually to avoid selling for less than they need, to wait for rates or prices to move, or because they've already bought their next home. Renting buys time, but it adds landlord costs, wear and tear, and a lease that can make the next sale harder.
Can I sell a home that has a tenant in it?
Yes. Investors often buy with a tenant in place, and the lease usually transfers with the sale. Selling to someone who wants to move in generally means waiting for the lease to end or agreeing with the tenant on an earlier move-out. Planning for that a few months before the lease ends gives you the most options.
How is this counted?
Resale listings in the MLS that expired or were canceled in the last 12 months, matched by address to a later rental listing in the same MLS. Homes that sold in between are left out. Owners who rent outside the MLS (Zillow, Facebook, a yard sign) aren't counted, so the real number is higher.
Resale and new-construction home listings (not land) that expired or were canceled in the last 12 months, matched by address to a later rental listing in the same MLS. One count per rental; homes that sold between the failed listing and the rental are left out. Rentals offered outside the MLS aren't counted, so the real number is higher. Mortgage figures are estimates from the MLS purchase record, not any owner's actual loan. Addresses are never shown. Source: Hive MLS data compiled by the Buddy Blake Team, updated October 7, 2026.