Anyone who has spent time in Charlotte, NC over the past few years knows that it is a popular spot for Millennials — young adults in the 18-34 age range. As the Charlotte Business Journal reports, recent research confirms that Charlotte is by far the number-one city for Millennials in America. Not only that, but the number of Millennial home buyers has shot up 45 percent in the last ten years! What is it about this city that attracts so many young adults? Why are Millennials choosing starter homes in Charlotte, NC above other cities? Here are a few reasons why.
Of course, one of the primary reasons for Millennials to move is an abundance of job opportunities, as many of them are graduating college and seeking to launch their careers. Charlotte’s job market is booming, enjoying a low unemployment rate and plenty of entry-level jobs available — with the largest number of employment opportunities in the health and financial sectors. Bestplaces.net indicates the Charlotte job market is expected to grow by 42.49 percent over the next decade, so the inflow of young adults to this area isn’t likely to abate anytime soon.
If job availability is what causes Millennials to come to Charlotte, NC, job growth is what causes them to stay in Charlotte, including settling down, buying starter homes, starting a family, etc. The top three job sectors in Charlotte are health and social services, financial services and retail, all of which are predicted to grow considerably over the next decade. Millennials expect that the jobs they take here will provide plenty of room for growth and promotion.
Jobs and wages are of little consequence if the cost of living takes it away. Despite Charlotte’s rapid growth over the past few years, the overall cost of homes in this area remains reasonable compared to other metropolitan areas—and yet, Charlotte is also just big enough to provide plenty of great shopping, dining, nightlife and other conveniences to attract the younger adult. Simply put, Millennials get more home for their money here, and an excellent quality of life to boot.
As your local real estate specialists, we at Dickens Mitchener have our finger on the pulse of this community and are well aware of the best deals for starter homes in Charlotte, NC. If you’re considering moving to Charlotte or buying your first house, we’d love to help you find the home of your dreams! Give us a call today at 704-661-2402.