Published by FOX Business | January 22, 2024
Studies done by U-Haul and other moving companies reveal that Charlotte is one of the top cities in the U.S. that people are moving to.
According to multiple studies and real estate development experts, the city of Charlotte, North Carolina, was one of the most popular destinations for Americans to move to in 2023, and for good reason.
Real estate expert and former Charlotte resident Jarrod Randolph spoke to Fox News Digital this week about what makes the North Carolina city a top destination in the country to resettle in.
Randolph, who’s part of Vestre Partners, a real estate development and investment firm, said Charlotte is one of the fastest growing cities in the country because it’s beautiful, diverse, and cheaper than most other major metro areas in the U.S.
“We really like Charlotte in particular, because it has a strong financial industry, diverse economy. It’s a mild climate. You have an up-and-coming food scene and great arts and culture and sports teams. And your average cost of living … is like 11% less in Charlotte than it is in other cities,” Randolph said about his firm.
Providing an example of Charlotte’s affordability, Randolph said, “The average one-bedroom apartment in New York City is, I think, about $4,700. The average one-bedroom apartment in Charlotte is just under $1,700 – $1675.”
Randolph also noted the average commute time in the city is “25 minutes to work” which, he added, is “a little bit shorter than the average in the U.S.” and shorter than other popular U.S. cities like Nashville, Tenn., which has commute times of “40 minutes.”
When asked about new resident satisfaction in the city, Randolph said they’re “quite satisfied.” He added, “they’re satisfied because you’ve got a newer housing stock. And the average home value down there is like $382,000.”
“So, it’s a great, great community-based area,” he said, noting it’s “especially a great place to raise kids.”
When asked if the city is safer than other major U.S. cities where crime rates have increased, Randolph replied, “You have a very good police force – well-funded and respected police force. The city in general is a relatively safe city.”
United Van Lines published its 47th Annual National Movers Study at the beginning of the year detailing which cities and states in America saw the most inbound movers over the last year.
The group found that, out of the top 50 largest metro areas by population in the country, Charlotte was the city with the “highest net in-migration.”
