Charlotte, NC Ranked A Top City For Millennials

By
Real Estate Agent with Coldwell Banker Residential Brokerage

millennial generationCharlotte, North Carolina is a great city for the Millennial generation,  having recently been ranked as #18 out of the 25 top cities for Millennials! Both Forbes.com and Niche.com ranked Charlotte as a top place for Millennials to live and work. And with so many Millennials graduating from college, Apartments.com recently ranked Charlotte #2 out of the top 10 cities for recent college graduates.

 

Charlotte also ranked 10th in millennial population growth among U.S. cities between 2009 and 2012, according to an analysis by The Brookings Institution think tank last year. Millennials, aged 23-34, now represent some 14% of Charlotte's total population. Millennials are flooding the Charlotte metro area and it's expected that Charlotte's Millennial population will grow by another 2.1% in 2015, alone.

 

Why are so many Millennials moving to Charlotte? There are a number of good reasons:

  • Affordable rents (Millennials represent the largest renter group in Charlotte) with a median rent of  just over $800/month.

  • Excellent job opportunities in the banking/financial field, medical sector, industrial technology industries--with a median income of almost $29,000.

  • Professional sports, cultural offerings, outdoor lifestyle, a great "foodie" scene are all also contributing to Charlotte's attraction for Millennials.

  • Low crime rates.

 

Charlotte has long been considered a "young" city with a median age of about 33 and the Millennial generation moving to Charlotte in droves is keeping the city young in age and at heart.

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Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Residential Brokerage
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

2007 - 2019 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Rainmaker
2,250,139
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Nina. Sounds like a mining opportunity, as your area will continue to see lots of first time home buyers in the market for a home.

Make it a great week!

May 31, 2015 07:49 PM #21
Rainmaker
2,889,170
James Dray
Fathom Realty - Rogers, AR
Exceptional Agents, Outstanding Results

Good morning Nina.  With the growth I wonder if there is an issue with finding enough land to build all those homes.

May 31, 2015 08:33 PM #22
Rainmaker
4,797,131
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Nina.  It makes perfect sense why the millennials are moving to Charlotte.

May 31, 2015 08:52 PM #23
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Anyone thinking of moving to Charlotte should call you.

May 31, 2015 09:05 PM #24
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Thank you, Gita Bantwal, for stopping by and the great endorsement.

May 31, 2015 09:08 PM #25
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders ~ and a lot of the reasons (besides the job market one) also work for all the baby boomers and retirees who are moving here, as well.

May 31, 2015 09:09 PM #26
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

James Dray ~ we still have quite a bit of land surrounding Charlotte City--just becoming more expensive as we go along. Defiinitely we'll see more suburban spread as the area grows.

May 31, 2015 09:10 PM #27
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joe Petrowsky ~ no doubt about it that first-time buyers will become a factor in our market. Have a super day!

May 31, 2015 09:10 PM #28
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Kathy Streib ~ Charlotte has so much to offer people of all ages, including a great climate, great airport, affordability, etc.

May 31, 2015 09:11 PM #29
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto ~ that's why we are one of the fastest growing metro areas in the country right now--something for everyone.

May 31, 2015 09:12 PM #30
Rainmaker
3,240,221
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Employment ...culture...afffordable living...not much to "shovel" :) .....growth is in the forecast for your area !

May 31, 2015 09:48 PM #31
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sally K. & David L. Hanson ~ and don't forget a great climate in Charlotte! We've been growing like mad and the predictions are that the trend will continue.

May 31, 2015 09:58 PM #32
Rainmaker
1,900,588
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Nina - that is true; we have a Millennial in our family from New York working in Charlotte at NASCAR and loving it.

Jun 01, 2015 02:32 AM #33
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider ~ and you know how big a deal NASCAR is in the Charlotte area! If you ever get down here I expect that you will call!

Jun 01, 2015 02:46 AM #34
Ambassador
2,556,838
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

I have always had a strong feeling for the Charlotte NC area and can well appreciate how it would be attractive for Millennials

Jun 01, 2015 12:22 PM #35
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ed Silva ~ and what I love so much about Charlotte is that it's an attractive city for all generations, not just the Millennials.

Jun 01, 2015 09:53 PM #36
Rainmaker
4,410,040
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

When we visited Charlotte two years ago in December, we were both very impressed both with the homes and the way the city is laid out.  I can its attraction to everyone as well a sthe millennials...and by the way, I just think there way too much hype on this subject, the reason being in the next to 10-15 years they are going to be the big spenders...A

Jun 02, 2015 08:35 AM #37
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ron and Alexandra Siegel ~ I really need to agree with you. As the Milliennials further mature they will start buying homes. I see it already here in Charlotte, as the rental rates explode.

Jun 02, 2015 09:50 PM #38
Rainmaker
1,488,078
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Millennials are the largest group of recent home buyers. We should be ready to adjust our communication. Some of the keys to it:
1. Be active in social media sites.
2. Make sure your site website is mobile friendly
3. Keep millennials informed about the mortgage process
4. Be available ( after hours, if needed)
5. Offer realistic and ''up-to-the-point'' advice ( yep, can be via text message if this is the way they choose to communicate). 

Jun 16, 2015 04:54 PM #39
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Inna Ivchenko ~ you make some good points and many of these apply to non-Millenials, as well.

Jun 16, 2015 09:40 PM #40
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