Charlotte Zips Seeing the Biggest ROI
It’s no secret that the Charlotte-metro has experienced a massive real estate boom over the last decade. Populations are growing, demand is increasing, and prices are rising. Recently, The Business Journals profiled real estate markets and how investments have grown over the last 10 years. If you were lucky enough to buy before the boom, how has your investment panned out?
That’s exactly what The Business Journal studied. To create an even scenario, they tracked home prices between August 2009 and August 2019. Then, they assumed that each homebuyer made a flat 10% down payment.
The study looked at return-on-investment (ROI) nationwide. What they found is that the median return for buyers during that time was 214%. Almost 13,000 locations had average appreciations and the median home price increased by 31%.
Specifically in Charlotte, 62 local zip codes topped that 214% figure… by a lot.
Which Metro Neighborhoods Took the Cake?
Areas near Uptown Charlotte, like NoDa, Plaza Midwood, and Chantilly, have seen ROI surge to over 900% in ten years. Your 28208 zip code west of Uptown has seen increases of more than 800%.
The question we ask ourselves now is: where next? What zip code is next to have a big return-on-investment boom… and should you take the plunge and invest in property? I am always available to address your questions and concerns regarding property investment and purchasing real estate. Please contact me today!
To view the entire slideshow detailing 83 Charlotte zip codes, visit Charlotte Business Journal.