A recent survey indicated that Charlotte NC is probably in the midst of a reasonably stable housing boom that will make housing in the area sustainable for the middle and lower-class income earners. Even with rumors of a slump in the nationwide market, Charlotte isnât at risk of any kind of downturn that puts many homeowners at risk or causes them to incur losses in their real estate investments. The speed at which the home prices in Charlotte are rising could probably slow down.
Where To Buy
In most cases, the characteristics of an âidealâ neighborhood will vary from one person to the other, but many buyers are seen to covet two characteristics: a clean, secure environment and good schools. RealtyTrac conducted a study on the risk of environmental hazards â aspects like heavily polluted sites, air quality, and even previous meth lab locations â for Charlotte metro. Based on the findings, it was discovered that some of the places with the lowest risk were Eastover and Myers Park, China Grove and East Charlotte.
Are Median Home Prices on the Rise?
Median home prices in Charlotte are definitely on the rise, and July 2017 was the 60th successive month when the prices of median homes increased annually, in Charlotte. Charlotte metro is experiencing a consistent increase in median home prices â an indicator that itâs an impressive trend expected to continue thus minimizing shocks experienced by the economy or housing market.
Should You Buy Or Rent?
While you will probably be shocked by the experience of looking for an apartment in the greater Charlotte, Mecklenburg County is viewed as one of the most affordable locations to rent an apartment. In fact, it will cost the average worker 26 percent of their income to rent an apartment versus 28 percent to buy a similar home.