As you probably know, the city of Charlotte – Queen City – is on the rise and has received a lot of national attention for its rapid growth and development. We are attracting a lot of investors to the area who want to take advantage of the outstanding real estate market here.
Charlotte’s Economic GrowthThe city of Charlotte has attracted a number of corporations and businesses to the area, including major banks and companies in the medical/healthcare industry. We also have a number of proud colleges and universities, all of which help sustain above-average employment for our residents. The Queen City is now officially one of the top 20 cities to live in, according to U.S. News & World Report. Charlotte has beat out Atlanta and Charleston, becoming a stand-alone destination city and no longer in the shadow of other southeastern locations. Our estimated median household income in 2015 was $53,000, and our growing population will soon exceed one million people. It’s a great metropolitan city to invest in.
Where to InvestYou may be curious about the best places to invest in Charlotte. Our most popular areas to buy real estate for the purpose of rental income include several neighborhoods and communities. In the south part of the city, you can invest near Charlotte Douglas International Airport, including the Steele Creek area, which borders our state line and Lake Wylie. In west Charlotte, we recommend looking at Rozzelles Ferry Road and Beatties Ford Road. In east Charlotte, you should consider investing along our newly completed 485 highway, which includes the Plaza Road extension. And north of the uptown area, which is actually Charlotte’s downtown district, you can find great investment opportunities close to Highway 77 and Interstate 85, including Highland Creek. Concord and Kannapolis are also desirable neighborhoods and areas that attract good tenants.
Affordable Rental OpportunitiesDespite the shock you may get looking into traditional apartments in Charlotte, Mecklenburg County is considered one of the most affordable places for millennials to rent, and these rental homes are still cheaper than buying a house. If you decide to invest in Charlotte, you have a great opportunity to increase your investment portfolio.
For over 10 years we have managed investment properties in Charlotte and Mecklenburg, so please contact us at RuBec Properties if you have any questions about investing here.