Charlotte, North Carolina


Market Profile:

With almost 900,000 residents, Charlotte is Carolina’s largest city. Its combined metropolitan area encompasses nearly 3 million people, and its warm weather and affordability have been drawing in new residents from colder, more expensive parts of the country. In 2022 the metro saw a 3.4% increase in population from the previous year.

Timely eviction proceedings and strong lease-enforcement laws in Carolina contribute to a landlord-friendly climate, especially when considering median property taxes in the state are less than 0.8%.

Population growth has put upward pressure on prices, but also on rents—the city saw almost 7% rent price increases during 2022.

Quick Facts:

  • Energy sector employs over 25,000 in Charlotte
  • Home to multiple professional sports teams, including an NBA and NFL team
  • No geographic features impede development, such as topographical limitations or water bodies 
  • 199 neighborhoods radiate from the city center, known as Uptown
  • Bank of America, Microsoft, Lowes, Honeywell and Dole all have important bases of operation in this market
  • Charlotte is the second-largest American banking center behind NYC

Population: 874,579
Metro Size: 2,660,329
GDP Per Capita: $58,632
Area: 312 mi2
Elevation: 761 ft
Region: Southeast
Time Zone: Eastern






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