Charlotte NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Charlotte, NC Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Charlotte Housing Market Information

With 872,498 people, 323,709 houses or apartments, and a median cost of homes of $239,420, Charlotte real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Charlotte, accounting for 56.00% of the city's housing units. Other types of housing that are prevalent in Charlotte include large apartment complexes or high rise apartments ( 30.68%), row houses and other attached homes ( 7.55%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.62%).

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 52.07% owning and 47.93% renting.

There is a lot of housing in Charlotte built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Charlotte built between 2000 and later ( 30.34%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.37%). There's also some housing in Charlotte built before 1939 ( 2.92%).

Charlotte Home Appreciation Rates

In the last 10 years, Charlotte has experienced some of the highest home appreciation rates of any community in the nation. Charlotte real estate appreciated 63.66% over the last ten years, which is an average annual home appreciation rate of 5.05%, putting Charlotte in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Charlotte definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Charlotte that despite a nationwide downturn in the housing market, Charlotte real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Charlotte appreciation rates continue to be some of the highest in America, at 5.41%, which is higher than appreciation rates in 71.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Charlotte. Charlotte appreciation rates in the latest quarter were at 1.67%, which equates to an annual appreciation rate of 6.83%.

Importantly, this makes Charlotte one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to North Carolina, our data show that Charlotte's latest annual appreciation rate is lower than 50% of the other cities and towns in North Carolina.

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.

Average Home Values

 

Median Home Value:
$239,420

Charlotte, NC HOME PRICES

Value Range
> $1,327,000 2.4
$996,001 - $1,327,000 2.5
$664,001 - $996,000 5.4
$531,001 - $664,000 5.5
$398,001 - $531,000 9.4
$266,001 - $398,000 17.2
$133,001 - $266,000 40.2
$66,001 - $133,000 13.8
$0 - $66,000 3.7

High for NC
High for Nation

Value Relative to Nation Value Relative to State
31.2525547445255 23.5507246376812

Number Of Homes And Apartments:
323,709

Charlotte Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
85.27% 3.05%
9
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,553 / per month

Homeownership Rate

Homeownership
Owners 52.07
Renters 47.93
Vacant 7.81

Housing Market Details

 

Age of Homes

AGE OF Charlotte HOMES
2000 or Newer 30.3
1970 - 1999 47.4
1940 - 1969 19.4
1939 or Older 2.9

Types of Homes

TYPE OF Charlotte HOMES
Single-Family 56.0
Townhomes 7.6
Small Apt. Buildings 4.6
Apt. Complexes 30.7
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Charlotte HOMES
No Bedroom 1.98
1 Bedroom 12.70
2 Bedrooms 25.19
3 Bedrooms 37.12
4 Bedrooms 18.53
5 or more bedrooms 4.48