Charlotte is the No. 8 Affordable City for Families in the U.S.
I personally feel like the pandemic caused another baby boom. It’s been like baby central on my social feeds lately.
A new study from Roofstock looked at the most affordable places in the U.S. with the most families with kids. Young Americans are experiencing increasing debt burdens, which has slowed population growth, with many Gen X and Millennial Americans delaying parenthood, having fewer children, or opting not to have children at all. Researchers identified U.S. metropolitan areas with below-average living costs and ranked them according to the percentage of households with kids under 18 years old.
Well, Charlotte made its way to number 8 in the ranking! The analysis found that residents of the Charlotte metro area enjoy living costs that are about 5.6% below the national average. In total, 28.7% of Charlotte households have kids, compared to just 26.4% of all U.S. homes. Out of all affordable large U.S. metros, Charlotte has the 8th highest percentage of households with kids.
Here is a summary of the data for the Charlotte-Concord-Gastonia, NC-SC metro area:
- Percentage of households with kids under 18: 28.7%
- Total households with kids under 18: 281,745
- Total households: 982,241
- The median income for families with kids under 18: $84,367
- Cost of living (compared to average): -5.6%
For reference, here are the statistics for the entire United States:
- Percentage of households with kids under 18: 26.4%
- Total households with kids under 18: 32,481,312
- Total households: 122,802,852
- The median income for families with kids under 18: $78,001
- Cost of living (compared to average): N/A
I’m pretty impressed with the fact Charlotte got to number 8 in the ranking. Making the top 10 is a pretty big deal for our economy and housing development. I live in the suburb area of Charlotte metro and I can say over the past year tons of more single-family homes have been popping up. You can see more on the study and full list here.
