Charlotte, NC Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Charlotte, NC Housing Market Trends

With 885,708 people, 330,391 houses or apartments, and a median cost of homes of $271,907, 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 55.63% of the city's housing units. Other types of housing that are prevalent in Charlotte include large apartment complexes or high rise apartments ( 30.78%), row houses and other attached homes ( 7.82%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.65%).

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 52.10% owning and 47.90% 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 ( 31.95%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.69%). There's also some housing in Charlotte built before 1939 ( 2.85%).

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 92.49% over the last ten years, which is an average annual home appreciation rate of 6.77%, 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 11.06%, which is higher than appreciation rates in 76.90% 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 3.01%, which equates to an annual appreciation rate of 12.61%.

Relative to North Carolina, our data show that Charlotte's latest annual appreciation rate is higher than 60% 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:
$271,907

Charlotte, NC HOME PRICES

> $1,340,000
2.7%
2.7%
$1,005,001 - $1,340,000
2.7%
2.7%
$670,001 - $1,005,000
6.2%
6.2%
$536,001 - $670,000
6.3%
6.3%
$402,001 - $536,000
10.4%
10.4%
$268,001 - $402,000
19.3%
19.3%
$134,001 - $268,000
37.8%
37.8%
$67,001 - $134,000
11.6%
11.6%
$0 - $67,000
3.1%
3.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for NC

Value Relative To Nation

Number Of Homes And Apartments:
330,391

Charlotte Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
104.78% 3.39%
9
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,770 / per month

Homeownership Rate

Owners
52.1%
52.1%
Renters
47.9%
47.9%
Vacant
8.1%
8.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
31.9%
31.9%
1970 - 1999
46.5%
46.5%
1940 - 1969
18.7%
18.7%
1939 or Older
2.8%
2.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
55.6%
55.6%
Townhomes
7.8%
7.8%
Small Apt. Buildings
4.6%
4.6%
Apt. Complexes
30.8%
30.8%
Mobile Homes
1.1%
1.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.1%
2.1%
1 Bedroom
12.9%
12.9%
2 Bedrooms
25.1%
25.1%
3 Bedrooms
37.1%
37.1%
4 Bedrooms
18.3%
18.3%
5 or more bedrooms
4.5%
4.5%
0.0% 100.0%
% OF HOMES