A new survey conducted by Flat Fee Financial among 250 Charlotte residents reveals that the average first-time homebuyer in the Queen City anticipates spending $480,564 on their first home—nearly 100% more than the average cost of a home in Charlotte just seven years ago in 2017—and only slightly higher than the actual average cost of a home in 2024.
The survey’s results highlight the growing financial burden facing prospective homebuyers in the greater Charlotte area. As the city continues to grow, so does the cost of homeownership, with nearly half a million dollars now seen as the entry point into the market.
Other Key Findings:
A few other insights stood out from the survey of 250 Charlotte residents:
– Job Sectors with the Highest Likelihood of Home Purchase: The survey found that individuals working in construction, manufacturing, and finance are the most likely to purchase a home in the next year. Conversely, those employed in hotel and food services, government and public service, and healthcare are the least likely to buy within the next 12 months.
– Gender Disparities in Home Purchase Intentions: Men are 22% more likely than women to plan a home purchase in the next year, suggesting potential gender differences in financial priorities or market confidence.
– Older Citizens Less Likely to Purchase Soon: Those aged 54 and up are the least likely to buy a home in the next 12 months, indicating that older residents may be less inclined or able to enter the housing market amid rising costs—likely because they owned prior to COVID and have favorable mortgages.
About Flat Fee FinancialFlat Fee Financial is a leading financial planner, committed to helping Charlotte residents navigate the complexities of today’s market. Their desire is to provide guidance for clients along their financial journey, helping them avoid mistakes and make wise decisions based on their personal goals.
To view full survey results, please visit:
https://www.flatfee-financial.com/post/charlotte-housing-the-average-charlottean-expects-to-pay-480-564-for-their-first-home
Media ContactCompany Name: Flat Fee FinancialContact Person: Stephen BoatmanEmail: Send EmailPhone: 704-774-5390Address:919 Berryhill Road, Suite 102 City: CharlotteState: North Carolina 28208Country: United StatesWebsite: https://www.flatfee-financial.com/
