Is Charlotte NC a good place to invest in Real estate?

[Lily Rodriguez]

In order to understand the city we must first know a little more about the State of North Carolina and how it differs from the rest of the country.

North Carolina has a very low volatility with stable returns of your investment. North Carolina is a Lanlord friendly state.

North Carolina is worth the investment because of our high occupancy rates and a high demand for rental homes, the local real estate investors love the historically performance stability, specifically single family homes.

North Carolina has very good reputable colleges and universities, that’s the reason a lot of people make their move to NC and want to just rent a house until they get acquainted with the area.

Charlotte’s home prices compared to states up north are dramatically significant.

Let's compare the difference between down payments only, of course there’s more to the money involved and variables on interest rates and type of loans you are using.

Let’s just stick to down payment as a passive investor. (No creative financing involved)

As of December 2023, the median listing price for a home in New York City is $799,000 down payment needed if using 20% = $159,800

As of December 2023, the median listing price for a home in Charlotte, North Carolina is $419,900 down payment needed if using 20% = $83,980

Here are some reason why many out of state investors love to invest in Charlotte NC:

- Charlotte has a reasonable cost of living and it’s lower than the national average.

- Housing, utilities and food cost are around 14%, 8% and 6% compared to the national average making it a great place to live for families, college students and people looking to retire.

- Charlotte has a high occupancy rate across the state and it’s hard to get tenants into it because if the house is properly marketed and maintained it will rent as quickly as a week or two depending on the price range and the location.

- There is a high demand for high quality and reliable single family homes

- Charlotte has affordable housing options

- The median listing price per square foot is $244. In December 2023, Charlotte was a seller's market, meaning there are more people looking to buy than there are homes available.

- Charlotte is one of the top 20 fastest growing cities in the country

- The weather is amazing we have all four season and mild winters

- Strong financial industry where many of the big banks have their headquarters.

- We have people from all the states moving to Charlotte everyday about 113 people move to the Charlotte region every day to be exact according to Charlotte Region Business Alliance

- Majority of the population in Charlotte is 25 to 34 years old, which is important because they are looking for a rental property.

[Andy Edgemon]

I am in the Charlotte area.  Is it a great place to invest? Yes absolutely. Will you find much return on your invest for under $500k. I don’t think so.  Working in this area if you are finding homes under $500k you will have to force equity into the house for repairs, adding rooms etc to make it work.  Land in this area alone is killing most investors because a single lot can be over $200k. Again I know compared to up north that’s nothing but working in this area that’s a huge bite considering other parts of NC and SC you buy land $10k per acre.