B. Median Home Prices

middle among these regional MSAs. However, the Charlotte MSA has the highest growth. Across all these regional cities, the house price growth rates have significantly increased during the last two years. For example, the median house price growth rate in Charlotte from 2016 to 2017 was only 4.78%.

Figure V.4 presents the median home price for national competitor MSAs. There are stark differences in median home prices across these cities. Of the 12 MSAs, the Charlotte MSA has the fifth lowest median home price. Sacramento and Denver have median home prices almost double the median home price in the Charlotte MSA. However, Charlotte has one of the highest home price growth rates from 2019 to 2021.

Figure V.3 Regional Competitor MSAs Median House Price 2021 and Growth 2019 to 2021

Figure V.4 National Competitor MSAs Median House Price 2021 and Growth 2019 to 2021

The State of Housing in Charlotte Report 2022