Where can I get check metrics for a given state like median wage growth etc
Hi everyone, I am a first time home buyer. I would like to know which area/county close to Charlotte, North Carolina most people are moving to. I would like to buy my first home something closer to uptown with good school district. The metrics that I would like to know are population growth, median wage growth and employment growth to select an area.
Thanks in advance for your help!
I use city-data.com.
It uses data from the U.S. metrics.
You can also find data through the Census Bureau.
Honestly, every area within the Charlotte Metro Region is growing. The suburbs are expanding because they're more affordable than closer to the city.
School districts vary widely, so check out GreatSchools.org and CarolinaSchoolHub.com.
Some questions:
1. Why are schools important? Is it because you have children or you just want to be in 'a good school district'
2. What is your budget? That may completely eliminate areas of Charlotte even if they match your other criteria
3. As a primary residence, where do you want to be? Ignoring that data, since you need to be happy living there. Also, if you want to be there, others likely will too (if you're looking for resale/tenant appeal).
Those are great things to be looking at when you're looking for an investment and trying to narrow down a market. But for a first time homebuyer looking at a place to live (even if you're househacking/going to turn it into a rental in a year), that data may be overwhelming and/or unnecessary.
Happy to talk about the areas of Charlotte more in depth if you need some thoughts from someone who currently lives, works and plays in CLT
You can use government stats like the census bureau or just do research online. Most of this information is largely available.
city-data.com for those stats
spotcrime.com to see recent crime in the area
Hope this helps!
Thanks for replying to my question.
Here are the thoughtful answers:
1. Why are schools important? Is it because you have children or you just want to be in 'a good school district'
A. We don't have kids now. But below are the reasons I think good school districts will bring us:
1) Grade A or A+ neighborhoods
2) Quick resale as high future demand
3) Rents are higher
4) May be appreciation value goes high.
2. What is your budget? That may completely eliminate areas of Charlotte even if they match your other criteria
A) Our budget is between $440's- $550's.
3. As a primary residence, where do you want to be? Ignoring that data, since you need to be happy living there. Also, if you want to be there, others likely will too (if you're looking for resale/tenant appeal).
A) I don't the areas much. But my preferences are below:
1) Close to free way.
2) Good neighborhood.
3) Good back-yard.
4) Appreciation value - buy somewhere the community just begins.
5) Closer to uptown.
6) Resale
7) Good for rental.
8) Calmer neighborhood with 5bed, 3+ baths with office space etc.
Quote from @Anvesh Reddy:
Thanks for replying to my question.
Here are the thoughtful answers:
1. Why are schools important? Is it because you have children or you just want to be in 'a good school district'
A. We don't have kids now. But below are the reasons I think good school districts will bring us:
1) Grade A or A+ neighborhoods
2) Quick resale as high future demand
3) Rents are higher
4) May be appreciation value goes high.
2. What is your budget? That may completely eliminate areas of Charlotte even if they match your other criteria
A) Our budget is between $440's- $550's.
3. As a primary residence, where do you want to be? Ignoring that data, since you need to be happy living there. Also, if you want to be there, others likely will too (if you're looking for resale/tenant appeal).
A) I don't the areas much. But my preferences are below:
1) Close to free way.
2) Good neighborhood.
3) Good back-yard.
4) Appreciation value - buy somewhere the community just begins.
5) Closer to uptown.
6) Resale
7) Good for rental.
8) Calmer neighborhood with 5bed, 3+ baths with office space etc.
Thanks for the response! Just some thoughts on this:
1. Buying in a 'good school district' sounds like the best plan. However, I don't advise focusing on that unless you have children and are concerned about the schools they'll be assigned to in the next couple of years. The main reasons are because you'll be paying a premium for that house because of the school district and so your ROI typically is less because of that price. More importantly, though, CMS (Charlotte Mecklenburg Schools) is growing and therefore re-districting their school districts fairly frequently. So you may purchase one school district, and then you get rezoned and you're no longer in the highly desirable area.
2. That is a decent budget, however you are looking for a fairly large home in that budget.
3. The suburbs are really developing quickly since land is at a premium. That said, everywhere in the CLT Metro area is appreciating right now, so there's not really an area where I wouldn't advise buying if the home met your above criteria.
There is a lot of noise out there for what you should look at when buying a home and/or investment. The budget and the size of the home would likely determine where you would need to buy. I would hate for you to get stuck on a certain area because of the data you're looking at and then realize the home you're looking for is out of your price range and/or doesn't exist there. That was my only point in questioning the data search!
Thanks for your reply.
If you could start over, which are the places that you would tap in with the current market considering school districts are important in the next 5 years?