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Population Growth Continues in Charlotte, NC

Population Growth Continues in Charlotte, NC

The latest U.S. Census Bureau estimates Charlotte added about 13,200 residents from July 1, 2018, and the same date in 2019.  That’s an increase of 1.5% from the previous year, making The Queen City the 15th-largest city in the U.S. as of July 1, 2019, the census data shows.  The increase moves Charlotte up a spot from the previous year.

Charlotte, with an average of 36 new people arriving each day during the 12-month span, ranks fifth for the largest population gains within that period. Charlotte ranked below Phoenix and cities in Texas.  New arrivals need housing and Charlotte’s growth continues to fare well for real estate investors.

Nationwide, cities in the South and the West lead the country when it comes to population gains since the 2010 Census — both on a percentage and numeric basis. 

From 2010-19, Charlotte has grown by 150,101 residents, an increase of 20.4% since 2010. Its population base as of July 1, 2019, was 885,708.

The Census Bureau released estimates putting the Charlotte metro area’s population at 2.64 million in 2019. The metro grew its population count 1.7% by nearly 44,000 people in a year’s span.  It increased 17.5% since 2010, or 392,920 people.

But what does this mean for real estate?  Inventory continues to be low and demand is high.  Affordable housing continues to be an issue in the Charlotte area, as rents continue to increase due to demand.  It’s no surprise that real estate investors also flock to the South and West, following the population booms of the country.  Charlotte and the surrounding metro area continue to be an investors dream – long term viability looks strong with no signs of slowing down anytime soon.

Submitted by Laura Grant