CHARLOTTE — There’s a new report out this week from the Childress Klein Center for Real Estate at UNC Charlotte that breaks down trends in the region’s housing market.
The “2022 State of Housing in Charlotte Report,” released Tuesday, puts in stark relief the dramatic drop in affordability in the eight-county area analyzed that’s happened in just the last few years. For instance, researchers found that the household income required to buy a median-priced home in the region jumped from $62,680 in 2020 to $109,103 in 2022 — a 73% increase.
That’s due in large part, of course, to the median home price increasing nearly 54% — from $273,500 in January 2020 to $420,000 in September 2022 — but also attributable to rising interest rates.
Read more from the Charlotte Business Journal’s coverage here.
(WATCH BELOW: 9 Investigates: Searching for affordable housing solutions in the Carolinas)
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