Some might think of this Sunday’s big game as a matchup between a team that almost went undefeated this year vs. a team with the #1 defense in the league. But for those of us in the world of real estate, we also see it as a city with a steadily gaining housing market vs. a city with one of the hottest housing markets in the nation. This article from Lindsey Schober of Zillow gives us the play-by-play on how Charlotte and Denver’s hometown housing markets stack up off the field.
While the attention is focused on Santa Clara, California, we’re looking at the how Broncos’ and Panthers’ hometowns – Denver and Charlotte – stack up in a local real estate head-to-head. You decide which home field comes out on top.
Denver was ranked this year’s hottest real estate market due to its white-hot mix of job growth, income growth and low unemployment. As more people move to the Mile High City and home values only projected to go up, Denver has also garnered a reputation for being increasingly unaffordable. Renters shell out 34.3 percent of their monthly income on rent, well over the 30 percent rule of thumb for affordability.
Charlotte, on the other hand, remains one of the affordable markets in the country, with renters spending approximately 27 percent of their monthly income on rent.
“Charlotte doesn’t get the headlines Denver does, but the Queen City has quietly established itself as one of the country’s most livable markets,” said Dr. Svenja Gudell, Zillow’s chief economist.
Both the Charlotte and Denver metros are expected to continue their growth trajectories in 2016.
