Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 9,260, 3,443 total housing units (homes and apartments), and a median house value of $158,051, house prices in Charlotte are some of the most affordable in Michigan as well as the nation.
Single-family detached homes are the single most common housing type in Charlotte, accounting for 62.29% of the city's housing units. Other types of housing that are prevalent in Charlotte include large apartment complexes or high rise apartments ( 16.26%), duplexes, homes converted to apartments or other small apartment buildings ( 11.21%), and a few row houses and other attached homes ( 5.34%).
The most prevalent building size and type in Charlotte are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.62% owning and 38.38% renting.
The housing in Charlotte was primarily built before 1939 ( 31.84%), making the housing stock in Charlotte some of the oldest overall in America, although there is a range of ages of homes in Charlotte. The next most important housing age is between 1970-1999 ( 30.71%), followed by between 1940-1969 ( 24.97%). There's also some housing in Charlotte built between 2000 and later ( 12.47%).
Appreciation rates for homes in Charlotte have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.69%, which ranks in the top 50% nationwide. This equates to an annual average Charlotte house appreciation rate of 6.56%.
NeighborhoodScout's data show that during the latest twelve months, Charlotte's appreciation rate, at 5.88%, has been at or slightly above the national average. In the latest quarter, Charlotte's appreciation rate has been 0.41%, which annualizes to a rate of 1.65%.
Relative to Michigan, our data show that Charlotte's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Charlotte differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Charlotte - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Charlotte real estate investment or home purchase decisions.
$158,051
for Michigan
for nation
3,443
$1,119 / per month