New data shows how hot the Charlotte housing market is and the disparities because of it. Mecklenburg County leaders are now poised to help more with affordable.
It’s no secret: for many, it’s hard to buy a house or rent an apartment in Charlotte or Mecklenburg County. New data shows just how difficult it is for some, what could be partly to blame, and the need to continue to seek solutions.
Mecklenburg County Commissioners received new data on Thursday during their annual budget retreat. The data included demographic numbers, an economic outlook, the current housing market, among other data points.
The county is home to more than 1,115,000 people, according to the latest US Census numbers. From 2010 to 2020, the county’s population grew by 21.3%, which is about 195,854 residents.
Many of those residents, new and old, can’t afford to live in the county though, according to data presented at the retreat.
The county’s median household income in 2019 was $68,111, according to data presented by county staff. However, there is a large disparity when broken down by race.
White residents have an average household median income of $92,010. Black residents have a median household income of $43,940 a year, and Hispanic residents have a median household income of $39,508.
This story is part of I Can’t Afford to Live Here, a collaborative reporting project focused on solutions to the affordable housing crisis in Charlotte.