North Carolina’s robust housing market makes it an exceptional choice for homebuyers and investors alike. Millennials are heading to the state’s major cities of Raleigh-Durham, and Charlotte in historic numbers.
However, it’s important to remember that people are not moving into the state just due to it’s attractive southern charm. There’s a lot more to it such as it’s affordable cost of living, mild weather almost all year, and healthy job market make it a highly desirable place to live from the Atlantic coast to the mountains.
In addition, both rents and home values are increasing and offer amazing cash flow and returns to investors. Charlotte is among top leaders for the largest migration of millennials in the country.
Even though the state is seeing growth, 41% of towns in the Tar Heel State are shrinking. Charlotte and the Triangle alone are responsible for 70% of the state’s growth.
There are many reasons why someone may want to move to Charlotte. Whether it’s a job change, a new start, better weather than their home state, great food, and entertainment, or even the affordability of the homes for sale in Charlotte makes it an attractive place to live for everyone!
Many investors are attracted to Charlotte simply because of its rapid growth. The city is the largest in the state, home to 800,000 people and another 2.5 million within its metro. And with growth comes an increasing need for housing.
According to a recent U.S. News article Charlotte comes in at number 14 for best cities to live in the U.S. The city of Charlotte is among the best places in the United States for employment. Regardless if it’s a job in banking, human resources, or in general.
Glassdoor not long ago had Charlotte rank #24 in best places to land a job. Moreover, another North Carolina city, Raleigh, ranked even higher at #4.
With an unemployment rate of 3.8% as of Feb.2022 and a median salary above the U.S. average, Charlotte is an ideal option for someone seeking employment that will pay them good.
People who are living in Charlotte know it is very reasonably priced or trends to the lower end of the spectrum. The median home value is significantly less than the national average ($367,700 for Charlotte vs. $374,000 for the U.S. Average). In the last few years Charlotte real estate has increased in value a lot more than it did in the early 2000s. Discuss your financing options with a North Carolina mortgage lender.
Charlotte is comprised of 19 neighborhoods, with each having it’s distinct features. For example, the Fourth Ward, has a combination of typical new construction home designs and lovely Victorian architecture. Each brings its appeal to different groups.
Among the most desirable areas in Charlotte is Ballantyne, an upscale neighborhood with a golf course. For those who prefer a historic neighborhood, Dilworth will satisfy that need with tree-lined streets featuring aged oak trees, great eateries, and cafes.
A few other great neighborhoods in Charlotte include the affluent community of Meyers Park, Uptown, and places outside the city bustle such as Gastonia or Lake Norman.