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Charlotte, NC

HomeVestors Study Ranks Charlotte "1st, Top 10 Market for Real Estate Investment”. ULI ranked Charlotte “3rd, Top Real Estate Markets to Watch” Charlotte ranked “3rd, Top Moving Destinations” by United Van Lines

The Charlotte-Concord-Gastonia Metropolitan Statistical Area (MSA) is home to some 2.4 million residents with over 800,000 of them living within the City of Charlotte.

The Area has recorded the 4th fastest population growth in the nation over the past decade. Given the ample median-plus paying jobs provided by banking and business services and the recent pro-business legislation instituted by the newly elected Governor of North Carolina, conditions are primed to see continued job and population growth. Additionally, Charlotte’s tight labor market is supporting wage growth which is in turn driving demand for housing.

Meanwhile, the housing market continues to remain in a state of undersupply. A recent report, dated May 2016, revealed housing starts were up 12.3% YoY with the greatest opportunity for growth coming from the pool of price-sensitive buyers between the $150,000-$200,000 price range where inventory for hew homes currently stands at a record low of 4.9 months.

  • Total population increased more than 9% from 2010 to 2015
  • Highest increase in working age population of the 30 most population MSAs in the US from 2010-2014 at 35% which is more than 20% higher than San Antonio with the second highest increase
  • Charlotte ranks top 10 in terms of net migration from other states
  • MSA is known for low crime rates
  • Annual median home price increased 8.5% in the fourth quarter of 2015 over 12 months

Charlotte has been attracting many young adults due to its strong employment opportunities with highly influential Fortune 500 companies and its growing startup culture. Charlotte is the official home of Bank of America, Duke Energy and over 50 companies on the Inc. List 5000 (including 7 Fortune 500 companies). The area is known to be the place for entrepreneurs to build and grow in a healthy start-up environment. In 2014, Charlotte was named first in the most entrepreneurial city by Global Trade Magazine. Together with having a strong foundation of large stable companies with a rapidly growing start-up businesses, the area will continue to attract a high proportion of Millennials seeking rental properties.

  • Wallethub ranked Charlotte #1 in growth in number of businesses
  • Job growth averaged 3.1% over the past five years
  • 2016 workforce expected to gain 111,200 jobs during 2016 and end 2016 with a consecutively lower unemployment rate
  • 13 economic sectors are forecasted to experience output increases during 2016
  • Highest expected growth is in business and professional services with a projected real increase of 4.5%

 

 

Stat

Stat Date

Resource/Link

Total Population

2,426,363

07/2015

Population Growth 2014 to 2015

2.0%

07 2014-07 2015

Population Growth 2010 to 2015

9.1%

07 2010-07 2015

Median Age

36.9

2013

Unemployment

3.80%

01 2016

Per Capita Personal Income

$42,425

01 2014

Median Home Price

$190,500

2H 2015

Annual Median Home Price Growth

8.50%

4Q 2015

Contact Information
Corporate Office
2800 Livernois Rd., Ste. D220
Troy, MI  48083
t. +1.586.482.8156
f. +1.586.482.8159
info@buildgreystone.com

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We are committed to ensuring a legacy of integrity and value by building quality homes and communities for customers, enriching our investors through long-term wealth building strategies and sharing success with our employees. Greystone is dedicated to offering our customers superior products and services and to adding value for our investors through out expertise, innovation, foresight, and reliability.

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