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It’s no secret that Charlotte is one of the fastest growing real estate markets in the country, even gaining national recognition for its rapid expansion. Quarterly check-ins reveal a consistently hot seller’s market, as people are eager to claim real estate within the city limits. This is terrific news for property investors, who can cash in on the mass migration by offering rental space to tenants.
But how did it get to be this way? What does Charlotte have to offer that makes it appealing to so many people? As it turns out, the Queen City has a lot going for it, including some things that might not have considered. Let’s take a closer look at some of the factors that make Charlotte a real estate hotspot.
Cost of Living
For many people, especially families, expenses are a dealbreaker when searching for a place to settle down. Charlotte boasts a cost of living that is slightly lower than the national average. The price of housing and utilities is particularly noteworthy, sitting at roughly 11% and 8% below the national average, respectively. With a variety of housing options at different price points, Charlotte residents will be able to stretch their budget that much further.
Economic Stability
The Queen City is a hub of major banking and financial institutions, including Bank of America, Truist, and Wells Fargo. Their headquarters make up the soaring skyscrapers and dramatic skyline of downtown Charlotte. Not only do these businesses create jobs, but they attract savvy professionals seeking careers and opportunities for advancement. This helps to stabilize the economy and drive further growth.
Location
Charlotte sits in that sweet spot on the Eastern coast. With fear weather, temperate climates year round, and close proximity to both the beach and the mountains, it’s no wonder that people flock to this region to escape the harsh winters of the North. The extreme variation in topography allows for a wide range of outdoor activities that will satisfy any interest.
Expansion & Construction
One of the best things about Charlotte is that it’s not finished yet. The city is constantly undergoing expansion and construction to create a better space for its residents. This mindset spills out into the surrounding towns and suburbs, which have seen tremendous growth in recent years.
Talley Properties: Charlotte’s Best Property Management
Whether you’re searching for the perfect rental space or you’re a landlord looking to get in on the action, you’ve come to the right place. Talley Properties is here to help! Tenants can look at our listings locator to find properties for rent, and investors can reach out today to learn more about our services. We look forward to working with you!