Over the last five years, the greater Charlotte area has seen incredible growth from a home value standpoint, while the cost of living remains relatively low compared to other major US cities. Why are homes appreciating so quickly here? It’s likely due to the high demand of Charlotte as a whole, and the population growth in the area. According to research done by Forbes and the Census Bureau, Charlotte is currently the #3 city in the US to which people are moving (coming in just behind Phoenix, AZ and Austin, TX) - with additional signs of growth seen in the ever-present new construction, new restaurants opening, and several fortune 500 companies headquartered in the greater Charlotte area.
So, by now - are you wondering which parts of Charlotte are the best investment for appreciation? Or are you thinking about potentially selling and curious if your neighborhood has seen significant growth in home value? Below are the top 5 neighborhoods in Charlotte with the highest average appreciation rates:
- South End - The South End is a trendy neighborhood located just south of Uptown Charlotte, known for its vibrant art scene, excellent restaurants, and many boutiques. Over the last five years, home values in South End have increased by over 50%, making it one of the fastest-appreciating neighborhoods in Charlotte.
- Plaza Midwood - Plaza Midwood is another trending neighborhood located just east of Uptown Charlotte, known for its eclectic mix of restaurants, bars, and shops. Over the last five years, home values in Plaza Midwood have increased by over 40%.
- Dilworth - Dilworth is an upscale neighborhood located in the heart of Charlotte, known for its beautiful tree-lined streets, historic homes, and charming bungalows. Over the last five years, home values in Dilworth have increased by over 32%.
- Myers Park - Myers Park is another upscale neighborhood in Charlotte that has been experiencing significant appreciation in home values over the last few years. With its stunning homes, beautiful parks, and highly rated schools, Myers Park is a desirable location for families and professionals. Over the last five years, home values in Myers Park have increased by over 30%
- Elizabeth - Elizabeth is a historic neighborhood located just east of Uptown Charlotte, known for its beautiful homes, historic landmarks, and charming atmosphere. Over the last five years, home values in Elizabeth have increased by over 28%.
For those who love everything that Charlotte has to offer, but prefer the benefits of living a bit outside the city - here are the top 5 suburbs of Charlotte that have appreciated in the last 5 years:
- Davidson: Located in northern Mecklenburg County, Davidson has seen a significant increase in property values due to its charming small-town atmosphere and proximity to Lake Norman. Home prices have increased by an average of 28.5% over the last 5 years.
- Fort Mill, SC: Just across the border in South Carolina, Fort Mill has become a popular choice for homebuyers looking for more space, #1 ranked schools in SC, lower taxes, and easy access to Charlotte. Fort Mill has seen a 27.5% increase in home values over the last 5 years.
- Matthews: Located in southeastern Mecklenburg County, Matthews has long been a popular suburb due to its excellent schools and close proximity to Charlotte. Home values have increased by an average of 26.8% over the last 5 years.
- Waxhaw: Located in Union County, Waxhaw has become a sought-after suburb due to its picturesque downtown area and top-rated schools. Home values in Waxhaw have increased by an average of 26.3% over the last 5 years.
- Huntersville: Located in northern Mecklenburg County, Huntersville has experienced significant growth over the last few years, thanks in part to its proximity to Lake Norman and easy access to Charlotte. Home values in Huntersville have increased by an average of 25.9% over the last 5 years.
Whether you’re looking to sell soon, or hold onto a property and enjoy those appreciating values a bit longer - it’s a great time to own a home in Charlotte!
Written by Meghan Reynolds
