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Americans flock to jewel of North Carolina for affordable living, well-funded police

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In 2023, Charlotte, North Carolina, emerged as a popular relocation destination due to its rapid growth, affordability, and various amenities.

Real estate expert Jarrod Randolph highlighted the city’s appeal, citing its strong financial industry, diverse economy, lower cost of living, and shorter commute times compared to other major cities.

Randolph said, “We really like Charlotte in particular, because it has a strong financial industry, diverse economy. It’s a mild climate. You have an up-and-coming food scene and great arts and culture and sports teams. And your average cost of living … is like 11% less in Charlotte than it is in other cities.”

“The average one-bedroom apartment in New York City is, I think, about $4,700. The average one-bedroom apartment in Charlotte is just under $1,700 – $1675,” he continued.

“They’re satisfied because you’ve got a newer housing stock. And the average home value down there is like $382,000,” he explained.

“You have a very good police force – well-funded and respected police force. The city in general is a relatively safe city,” added Randolph.

“You’re living in a beautiful city that is affordable. The cost of living on average is lower, and you’ve got a great climate throughout the year because it’s a pretty temperate, mild climate in Charlotte,” he concluded.

Studies by United Van Lines and U-Haul confirmed Charlotte’s attractiveness, with data showing high inbound migration and cost savings for relocating individuals.

United Van Lines wrote, “movers tend to move to metro areas that are less expensive and have less competition from other home buyers. This trend has intensified in the past couple of years as housing affordability declined.”

Researchers reported that the “median household income needed to pay rent has risen from 26.7% in November 2019 to 29.9% in November 2023.”

“That share of income needed for a monthly mortgage payment on a typical home purchase has risen even more dramatically, from 22.7% to 38.6% over the same time frame,” the report continued.

Factors such as housing affordability and income trends have contributed to this migration pattern, with people moving from cities like New York, Chicago, Dallas, and Houston to Charlotte.

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