Moving to Charlotte, North Carolina

Quick insights

• Charlotte, North Carolina, has much to offer residents, including a low cost of living, thriving job market, access to nature and a lively downtown area.
• From the city’s bustling Uptown to the stately Myer’s Park, it’s important to consider your family’s lifestyle needs when deciding which neighborhood to live in.
• If you’re considering buying a home in Charlotte, NC, a preapproval in-hand and an up-to-date understanding of local housing trends can help make the process smoother.

The historic city of Charlotte, North Carolina has one of the fastest-growing metropolitan areas in the U.S. and it’s easy to see why. With a rebellious spirit, lively cultural offerings and an industrious tilt, the city has much to offer the ever-increasing number of residents. Those living in Charlotte enjoy all four seasons, a lower-than-average cost of living, a thriving job market, an exciting downtown area and natural sights just a short drive away.

Are you thinking about moving to Charlotte? In this article, we’ll name some of the best neighborhoods to buy a home in, unpack the cost of living and detail what it’s like to live in the city of Charlotte.

Living in Charlotte, North Carolina

Charlotte is the most populous city in North Carolina, located in the southern half of the U.S., roughly 300 miles east of the Atlantic Ocean. It’s a city that experiences all four seasons, with humid summers and icy winters. For those who love the outdoors, there are many attractions to explore in the warmer months, including the U.S. National Whitewater Center, Lake Norman and multiple state and national parks. The city itself has many green spaces for leisure, including the popular Freedom Park.

The city has a vibrant culinary scene, fascinating museums and a strong sports culture. Charlotte’s culinary offerings include prime Southern fare and tempting international cuisines from Vietnam, Italy and Ethiopia. North Carolina’s first art museum can be found in the city inside an old U.S. Mint building. The museum, known as the Charlotte Mint, displays fascinating collections of American, European, African, Native American and modern art. Sports fans can cheer on major sports teams including the Charlotte Hornets (NBA), the Carolina Panthers (NFL) and the Charlotte FC soccer team.

When it’s time to fly, the Charlotte Douglas International Airport is only a 15-minute drive from the city center.

Charlotte’s job market

Charlotte has a reputation for being a banking town, with several financial institutions serving as major employers of its residents. However, the city has much more to offer than banking, with many jobs in the medical, academic, energy and transportation industries. Multiple healthcare companies have a strong presence in the city, employing many professionals throughout the metropolitan area. The Charlotte-Mecklenburg school district also happens to be the eighteenth-largest in the nation, employing a high number of academic workers. Charlotte is also home to several Fortune 500 companies, including energy companies and the makers of popular consumer goods.

The cost of living in Charlotte, North Carolina

The average cost of living in Charlotte is 3% below the national rate,Cost-of-Living-in-Charlotte making it an attractive location for many who are looking to lead an urban lifestyle without breaking the bank. Most major spending categories within that figure land below the national average, including the cost of utilities, transportation and housing. Grocery costs in Charlotte meet the national average, while healthcare spending exceeds the average by 10%.Cost-of-Living-in-Charlotte

Popular neighborhoods in Charlotte

As the adage says, “location, location, location.” Picking the right neighborhood for your lifestyle and household is key to thriving in any city. Some of the best neighborhoods in Charlotte for today’s homebuyers include:

• Uptown Charlotte: For a middle-of-it-all feel, this neighborhood in the Central Business District is a strong contender. Located close to museums, businesses, nightlife and entertainment, this area is ideal for singles, students and young professionals. Living in the Uptown area also provides good access to the Charlotte Area Transportation System (CATS), with many bus and train lines stopping nearby.
• Providence Estates East: This small, family-focused neighborhood on the southeast edge of Charlotte has a diverse makeup and residential feel. Centered around the sizeable Colonel Francis Beatty Park, those who enjoy trail-running will fit right in.
• Myers Park: With winding, oak-lined streets and stately mansions, Myers Park is one of the most picturesque neighborhoods in Charlotte. Highly acclaimed schools in this district make it a great place to raise star students.
• Plaza Midwood: As one of Charlotte’s hippest neighborhoods, Midwood has a mixture of old charm and new construction homes that blend eclectically. Residents of this area can walk to trendy thrift stores, restaurants and bars.

What to know before buying a home in Charlotte

If you are planning to buy a home, especially as a first-time homebuyer, there’s several things to keep in mind as you approach the process.

• Keep up with housing market news: It’s important to keep up with current housing market trends, both nationwide and in Charlotte specifically. Things like fluctuating inventory levels and interest rates can make a major difference in terms of costs.
• Get preapproved for a mortgage: Determining your mortgage affordability and seeking preapproval in advance can be a game-changer when shopping for a home. Preapproval for a mortgage can lock in your rate for a certain amount of time while shopping. Being preapproved can also help you act quickly to put in your offer in a competitive market.
• Prepare to pay closing costs: Closing costs in Charlotte include a combination of different fees, such as escrow fees, property taxes, title insurance fees and home inspection expenses. However, for typical homebuyers in Charlotte, the total closing costs are relatively low when compared to those in other major cities. Many homebuyers in Charlotte pay as little as 1.1% of the total purchase price of their home.Closing-costs-in-North-Carolina

Housing resources in Charlotte, North Carolina

Charlotte is very welcoming to individuals and families who want to become homeowners and build community. For those who are looking to settle and thrive in the area, there are several organizations and programs available that can provide support.

• The NC 1^st Home Advantage Down Payment Program: This program provides up to $15,000 in down payment assistance for eligible first-time buyers and military veterans.
• Community Development Block Grants: These federally funded grants help low- and moderate-income homeowners pay for things like home repair and rehabilitation.
• The NC Housing Finance Agency: This statewide agency provides affordable housing opportunities and support in the form of down payment assistance, low-cost mortgages, repair funding and more.

Pros and cons of living in Charlotte

To recap and expand, here are some of the high-level benefits and considerations for those thinking of moving to Charlotte, North Carolina.

Pros of living in Charlotte

• Healthy job market: Charlotte has many jobs in the banking, healthcare, academic and energy sectors.
• Low cost of living: With below-average prices on housing, transportation and groceries, you might find that your dollars go further in Charlotte.
• Green spaces: Charlotte offers an array of parks and green spaces including Freedom Park, Romare Bearden Park and Park Road Park. The parks offer beautiful gardens, walking trails, fountains and a lake, perfect for picnics and recreational activities.
• Fun, lively vibe: Residents enjoy numerous fun events throughout the year such as the Taste of Charlotte and the Charlotte Jazz Festival. As the home of NASCAR, motorsports fans can attend various races, fan meet-and-greets and Q&A sessions with drivers.

Cons of living in Charlotte

• Hot, humid summers: The Southern heat and wet subtropical climate may be a problem for some and could result in higher energy bills.
• Car-reliant metro area: Limited public transportation and biking infrastructure, coupled with urban sprawl from fast growth, makes it difficult to navigate the city without a car.

In conclusion

As a dynamic blend of economic opportunity and cultural richness, it’s little wonder why Charlotte has grown quickly in recent years. When considering a major move, it’s important to weigh all the pros and cons against your household’s unique needs, including employment opportunities and lifestyle preferences. If your decision to move includes buying a home, make sure to leverage all available resources (including those provided by the city itself) and partner with trusted real estate professionals in Charlotte for the best experience.