Charlotte, North Carolina is a great place to call home.
Sitting as the 17th largest metropolitan in the United States, it is among the most affordable and appreciating real estate markets in America. Property prices aren’t the only benefit of living here however. According to major news sources such as CNN, ABC and Money Magazine,Charlotte also has one of the hottest job markets in the U.S., and is considered a major financial hub, with a strong workforce.
Unemployment is below the national average, and Charlotte’s economy has been called ‘strong’ and ‘balanced’. This is probably because of the wealth of business happening in the city. Charlotte is classified as the second largest banking centre in America, only behind New York, with 26 banks represented and 226 local branch offices. These financial hubs help provide stability and growth for the city. Many well recognised and respected businesses can be found here as well, including: Time-Warner, IBM, Coca Cola, Microsoft, Duke Energy, BB&T, Compass Group, TIAA-CREF, and SPX. With so many large companies, it’s no wonder Charlotte has 15% projected job growth by 2020.
Transit systems in the city are continually being improved, and major medical research facilities, such as Bio-Tech are joining the area as well. It is one of the fastest growing locations in the United States and its neighbourhoods have been called, ‘safe for raising a family’. Charlotte has excellent schools, delectable restaurants, and sports and culture galore. The NASCAR Hall of Fame is located here, and it is proudly home to both the NFL Panthers and NBA Bobcats.
There are many Colleges and Universities in and amongst Charlotte, increasing the rental population. The remainder is made up of individuals who want to buy, but don’t yet meet the new, stricter lending criteria, or individuals who had their homes foreclosed and wanted to stay in the area. Fortunately the latter are still said to be stable and employed, and simply lost their homes due to poor lending practices and over-borrowing. Plus the benefit to having such high demand is that investors have recently been able to increase rent prices between 10 and 15 percent. Opportunities are now stronger than ever!
Head one way and in a couple of hours you’ll be at the mountains; head another, you’ll be at beach. For anyone seeking a high quality of life with a comparatively low cost of living, Charlotte, North Carolina is a clear winner when it comes to property investment!