According to Roofstock, Charlotte, North Carolina is the most populated city in the state and one of the fastest-growing metro areas in the U.S. The diverse economy and quality of life in Charlotte helps to explain why the housing market is so hot. The Charlotte metro area is the second-largest financial center in the U.S., home to popular pro sports teams, and has one of the best year-round climates in the country.
With nearly 900,000 people in the City of Charlotte and almost 2.6 million residents in the metropolitan area, Charlotte and Mecklenburg County rank near the top for population growth in the U.S. Only four cities have grown faster than Charlotte.
A booming job market and increased diversification are just two of the many reasons why so many people and businesses are moving to Charlotte. The metro area is home to seven Fortune 500 companies and the country’s 2nd-largest banking center after Wall Street. Charlotte’s job market is super-charged with a high-octane blend of high-tech, white collar, and service and distribution jobs.
Charlotte ranks as the seventh-best place for business and careers, according to Forbes, and last year ranked #5 as one of the best cities for jobs.
Technology jobs in Charlotte have grown rapidly over the past five years, with tech jobs increasing by 30% since 2013, a growth rate that’s twice the national average.
In fact, tech and logistics was the fastest growing employment sector in Charlotte in Q2 2019.
Charlotte is home to seven Fortune 500 companies.
Nearly 42% of the people in Charlotte hold a bachelor’s degree or higher compared to the nationwide average of 30%.
The median home value in Charlotte is $230,300 according to Zillow (as of Sept. 2019).
Home values in Charlotte have increased 6.5% over the past year and are forecasted to grow by another 4.1% in the next 12 months.
Median listing price of a house in Charlotte is $294,900 and median sales price is $237,800.
Median rent in Charlotte is $1,500 per month vs. $1,458 per month median rent in the greater metropolitan Charlotte region.
More than 50% of the housing units in Charlotte rent for between $1,001 and $1,500 per month, according to RENTCafé.
40% of the households in Charlotte are renter-occupied.
Quality of Life
SmartAsset recently ranked Charlotte among the top 10 cities that Millennials are moving to. But the fact is, the quality of life in Charlotte makes it the perfect place to live, work, and play for most every age group.
“Charlotte ranks as the seventh-best place for business and careers, according to Forbes, and last year ranked #5 as one of the best cities for jobs.”
Need more convincing? Check the articles below!
Why Charlotte’s Real Estate Market Is a Strong Investment in 2020
Why Invest in Charlotte Real Estate?
10 BEST PLACES TO INVEST IN REAL ESTATE IN 2020
What the Charlotte Housing Market Can Expect in 2020
The Charlotte Spots Featured on Diners, Drive-Ins and Dives
The Fastest Growing Real Estate Markets To Watch in 2020