Charlotte, like many cities in the South, has experienced recent population growth during a period where there is a mass exodus of individuals and families leaving America’s largest industrial hubs. That has been detailed in research by the Charlotte Regional Business Alliance, which found that 113 people per day are moving to the area, the highest level in more than a decade. The bulk of transplants to Charlotte have been millennials, according to city data and a new report by Bank of America that listed the Queen City as one of the top cities young people are moving to.
“They (transplants) tend to skew a little bit younger than the people who live here already,” Antony Burton, Charlotte Regional Business Alliance principal researcher, told WCNC. “They’re slightly more educated, in general. Slightly wealthier than the people who are already here.”
Why Charlotte is drawing millennials
Charlotte, which was included along with Austin, Cleveland, Dallas and Tampa, Florida, was considered an attractive destination for millennials because of a thriving job market and “a surge in finance and healthcare jobs,” the report stated.
Charlotte is home to many Fortune 500 companies, such as Bank of America, Duke Energy, and Wells Fargo. Charlotte Douglas International Airport is one of the most accessible air travel hubs in the region. The area is less congested than many other large coastal cities. Dennis Shirshikov, head of growth at real estate investing platform Awning.com, explained that Charlotte’s proximity to both mountains and the coast offers lifestyle benefits that resonate with millennials’ desire for a strong work-life balance.
“It’s almost like these cities are forming their own unique identities that resonate with specific segments of the millennial population,” he said. “Millennials are all about experiences — from the local coffee shop that offers just the right ambiance for a weekend chill to outdoor activities and music festivals. “Cities that offer a unique cultural experience or have a vibe become instant hits.”
