New data: In Charlotte since 2020, rents are up 18% while home prices are up 70%

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New data: In Charlotte since 2020, rents are up 18% while home prices are up 70%

For three years the rental market has been sluggish, characterized by high vacancies and low rent growth. The for-sale market, on the other hand, has continued to get more expensive. The latest data can be found in a new Apartment List feature: Since 2020, home prices have outpaced rents (everywhere).

The National Outlook

Since 2020, apartment rents are up 20% nationwide, while home prices are up a staggering 55%. The gap emerged during two important periods:

  1. 2020. Rents sank in immediate response to the pandemic, while home prices skyrocketed as demand for single-family homes surged.
  2. 2023. Rents cooled again in response to rapid apartment construction, while homes continued to appreciate in value despite higher interest rates.

The Local Outlook

This report includes data for 20 large housing markets, and home prices have grown significantly faster than rents in every single one.

  • In Charlotte specifically, rents have increased 18% since 2020, while home prices have surged 70%.
  • Charlotte is home to the nation’s widest gap between rent growth and price growth: 52 percentage points.
  • And the gap continues to widen, as in the past 12 months Charlotte rents have fallen 3% while home prices continue to rise.

You can explore the data using the interactive chart in our new report: Since 2020, home prices have outpaced rents (everywhere).

Advanced Materials Company Opening First Manufacturing Facility in The Charlotte Region

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Advanced Materials Company Opening First Manufacturing Facility in The Charlotte Region

India’s Supreme Nonwoven Inc. has just announced plans to establish their first U.S. manufacturing facility in the Charlotte region, marking a significant step for North Carolina’s advanced manufacturing sector.

The India-based Supreme Nonwoven Group, a leader in engineered nonwoven materials for over four decades, plans to invest $25.8 million in a new over 200,000-square-foot facility in Lexington, NC. The project will create 50 new jobs with an anticipated annual payroll impact of approximately $2.79 million. A performance-based grant of $100,000 from the One North Carolina Fund will support the location.

“I am proud to welcome Supreme Nonwoven and the good jobs it will bring to Davidson County,” said Governor Josh Stein in a press release. “This announcement reinforces what the world already knows: Our state is a premier destination for textile innovation. Our history in this industry is enhanced by a skilled workforce that is ready to support global companies seeking to establish and expand their presence in the United States.” 

What Supreme Nonwoven Will Produce

Supreme Nonwoven specializes in advanced nonwoven materials and value-added products — high-performance fabrics created through modern bonding processes rather than traditional weaving or knitting. These engineered materials serve demanding industries including:

  • Automotive: Interior components such as carpets, molded carpets, headliners, trunk liners, door panels, parcel shelves, and NVH (Noise, Vibration, Harshness) insulation materials. The company is a Tier-1 supplier to major global OEMs.
  • Filtration: Air, liquid, and industrial filtration media (branded lines like Nowofilt).
  • Apparel & Fashion: Garment interlinings, performance fabrics for footwear, and technical textiles for global brands.
  • Industrial & Geotechnical: Customized composites, geotextiles, erosion control products, and solutions for home furnishings, mattresses, and specialized applications.

The Davidson County factory will function as a technical collaboration hub for North American customers, enabling faster customization, responsive service, and localized innovation in nonwovens technology.

A “First” for North Carolina and the U.S.

This project represents Supreme Nonwoven’s first manufacturing presence in the United States, bringing decades of Indian expertise in diversified nonwoven production directly to American soil. For North Carolina, it strengthens the state’s growing footprint in technical textiles and advanced materials — sectors that complement existing strengths in automotive supply chains, filtration, and innovation hubs like NC State’s Nonwovens Institute.

While North Carolina has attracted other nonwovens investments in the past, Supreme’s entry stands out as the first U.S. plant for a major diversified Indian player in this space. It underscores North Carolina’s appeal for foreign direct investment in high-value manufacturing, especially as companies seek to localize supply chains for automotive, filtration, and performance materials amid global shifts.

Who Will Be Charlotte’s Next Mayor? City Council Reveals Final Five Candidates

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Who Will Be Charlotte’s Next Mayor? City Council Reveals Final Five Candidates

Charlotte’s next mayor could be just days away from being selected.

City Council has narrowed the search for an interim mayor to five finalists who will move on to interviews during a special meeting on June 18.

1. Harold Cogdell (often listed as Harold Cogdell Jr.)

  • Background: Longtime Charlotte attorney. Served on Charlotte City Council (2001–2003), as Chair of the Mecklenburg County Board of Commissioners, Chair of the Charlotte Housing Authority, and Chair of the Metropolitan Transit Commission.
  • Key Strengths: Extensive local government experience, emphasis on inclusive economic growth, neighborhood investment, transparent governance, and bridging divides. He has highlighted concerns about civility and trust on Council and wants to shift the culture of governance.
  • Pitch: Outsider perspective to restore collaboration; “day one” readiness due to prior roles. Seen as a frontrunner with strong institutional knowledge.

2. Carrie Cook

  • Background: Executive Director of the Greenlight Fund; Vice President and Community Affairs Officer for the Federal Reserve Bank of Richmond (Charlotte branch). Previously with Charlotte Regional Business Alliance and nonprofit/community development work. Named one of Charlotte’s most powerful leaders (Axios, 2024).
  • Key Strengths: Deep community and economic development expertise, relationships across business/nonprofit sectors, focus on stability and engagement. No prior elected office but strong behind-the-scenes influence.
  • Pitch: Last-minute but well-supported applicant; would bring decades of leadership for a smooth transition without seeking the permanent role.

3. Robert Harrington (often Rob Harrington)

  • Background: Trial lawyer (business litigation) at Robinson Bradshaw. Chaired Charlotte-Mecklenburg Library Board, Arts & Sciences Council, NC Bar Association, NC Bar Foundation, and boards for TreesCharlotte and Levine Museum of the New South. Longtime Charlotte resident (~30 years).
  • Key Strengths: Listening, mediation, and collaboration skills from legal career; broad civic leadership. Committed to not running in 2027.
  • Pitch: Focus on respect, preparation, organization, and grace in governance. Strong on issues like data centers. Seen as a serious contender with neutral, professional appeal.

4. James “Smuggie” Mitchell Jr. (Mayor Pro Tem)

  • Background: At-large Charlotte City Council member since 1999 (longest-serving). Current Mayor Pro Tem (handles mayoral duties in absences). Active in local Democratic politics.
  • Key Strengths: Deep institutional knowledge of city operations, relationships on Council, and continuity. Pledged not to run in 2027.
  • Pitch: Steady leadership to avoid “neutral” during a critical growth period (18 months). Strong on infrastructure, airport, and local priorities. Only current Council member applying.

5. Caleb Theodros

  • Background: NC State Senator (District 41, elected 2024). Former Chair of the Black Political Caucus of Charlotte-Mecklenburg and Charlotte Equitable Development Commission. Works in technology/risk management at Bank of America. Immigrant family background.
  • Key Strengths: Statewide connections (valuable for Charlotte-Raleigh relations on airport, infrastructure, data centers, etc.), political talent, visibility with constituents, focus on equitable growth and data-driven execution. Young and sharp.
  • Pitch: Bridge between city and state government; maintain stability and momentum without a broad new agenda. Would need to resign Senate seat if selected.

Context: Over 110 people applied; these five were selected by Council nominations. Interviews are public on June 18, with a final vote expected around June 22 and swearing-in July 1. Key issues include growth management (data centers, I-77 tolls), equity, and Council dynamics.

The winner will serve as Charlotte’s interim mayor for 18 months, from July 1, 2026, through December 6, 2027.

The interviews will take place at noon on June 18 in Room 267 of the Charlotte-Mecklenburg Government Center and will be streamed online for the public.

The selection will determine who leads Charlotte through the city’s next 18 months of government and policy decisions.

Whataburger Opening First York County Location With Free Food for First 100 Customers

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Whataburger Opening First York County Location With Free Food for First 100 Customers

The wait is almost over for York County Whataburger fans.

The popular Texas-based burger chain has announced that its first York County location will officially open in Rock Hill next month.

The new restaurant, located on Cross Pointe Drive near Interstate 77, will welcome its first customers at 9 a.m. on Thursday, July 9.

Before the doors open, Whataburger will host a ribbon-cutting ceremony at 8:30 a.m. to celebrate the milestone.

The company is also planning several opening-day giveaways. The first 100 customers will receive a free Honey Butter Chicken Biscuit, one of the chain’s most popular menu items. Guests can also expect exclusive Whataburger merchandise and other promotional items while supplies last.

The Rock Hill location continues Whataburger’s rapid expansion across the Carolinas. Over the past year, the chain has opened new restaurants throughout the Charlotte region.

Known for its made-to-order burgers, large menu, and loyal fan base, Whataburger has generated significant excitement as it expands beyond its traditional Texas footprint.

Charlotte Luxury Real Estate Defies Market Slowdown With Record-Setting Sales

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Charlotte Luxury Real Estate Defies Market Slowdown With Record-Setting Sales

Charlotte’s luxury housing market continues to attract deep-pocketed buyers, even as the broader market shows signs of slowing.

A new analysis by Homes.com found home sales across the Charlotte metro fell 3.9% in April compared to a year earlier. Meanwhile, inventory rose nearly 12%, and the median sale price increased just 0.3% to $411,250.

Despite that slowdown, multimillion-dollar homes continued to change hands at a rapid pace. The most expensive publicly listed home sale in May closed for $15 million, while three of the five priciest sales occurred on the same prestigious Myers Park street.

5. 1438 Queens Road West — $4.275 million

This renovated Myers Park home features seven bedrooms, custom walk-in closets, a covered porch, and guest quarters above the garage. The property sold after 49 days on the market.

4. 2514 Beretania Circle — $4.45 million

Located in Foxcroft, this brick estate includes a private backyard, outdoor kitchen, covered terrace, and custom primary suite. It sold at full asking price after just two days.

3. 1550 Queens Road West — $4.763 million

This Tudor-style Myers Park home offers six bedrooms, a saltwater pool and spa, bluestone decking, and multiple en suite bedrooms. It sold after 26 days.

2. 1436 Queens Road West — $6.6 million

This newly built luxury home includes Wolf and Sub-Zero appliances, a media room, outdoor kitchen, pool, spa, and a three-car garage. It sold after only 10 days on the market.

1. 7318 Baltusrol Lane — $15 million

The month’s top sale was a sprawling 15,154-square-foot estate in the Carmel neighborhood near Quail Hollow Club.

Built in 2017, the limestone mansion includes six bedrooms, 12 bathrooms, a Golfzon simulator room, private theater, fitness center, hidden office entrance, and a resort-style pool with a swim-up bar.

The home sold at its full $15 million asking price after only six days on the market.

The sale highlights a growing divide in Charlotte’s housing market. While overall sales have slowed and inventory continues to rise, demand for the region’s most exclusive properties remains remarkably strong.

CMS Settles Free Speech Case For $95,000 After Student’s Charlie Kirk Message Was Removed

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CMS Settles Free Speech Case For $95,000 After Student’s Charlie Kirk Message Was Removed
via The Stout family

Charlotte-Mecklenburg Schools has agreed to pay $95,000 to the family of an Ardrey Kell High School student whose Charlie Kirk tribute was painted over by school officials last year.

The settlement follows a federal lawsuit filed after the student painted “Live Like Kirk — John 11:25” and “Freedom 1776” on the school’s spirit rock in September 2025. The family said the student had received permission to paint the rock before the message was removed.

As part of the settlement, CMS acknowledged that the message did not violate school rules.

The lawsuit alleged school officials falsely characterized the message as vandalism, pulled the student from class for questioning, and reviewed her phone logs. The family also claimed the student was publicly humiliated during the incident, according to ADF.

CMS later clarified that the student had not vandalized the rock and that no criminal investigation had taken place.

The controversy led to a districtwide review of student expression policies. On June 9, the CMS Board approved new free speech guidelines designed to provide clearer rules for student expression and spirit rock messages.

The case ends with a nearly $100,000 payout, a policy change, and an acknowledgment from CMS that the student’s message did not violate school policy.

Pizza Hut Is Being Sold to a Chinese Company and Private Equity Firm After Years of Declining Sales

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Pizza Hut Is Being Sold to a Chinese Company and Private Equity Firm After Years of Declining Sales

One of America’s most recognizable restaurant brands is getting new owners after years of declining sales.

Yum! Brands announced Tuesday that it is selling Pizza Hut in a deal valued at approximately $2.7 billion. The transaction will split ownership of the pizza chain between a U.S. private equity firm and a Chinese restaurant company.

Under the agreement, Pizza Hut’s business outside mainland China will be sold to LongRange Capital for $1.5 billion. Meanwhile, Pizza Hut China will be sold by Yum! China for $1.2 billion.

“These transactions enable Yum! to be a more focused company that continues to leverage scale, technology and talent to accelerate our raising the B.A.R. priorities and deliver sustained value for our stakeholders,” said Chris Turner, Chief Executive Officer, Yum! Brands in a press release. “Under LongRange and Yum China, Pizza Hut will be well positioned for future growth with ownership that brings deep expertise in the restaurant industry. Pizza Hut is one of the most iconic restaurant brands in the world, and we are proud of the important role it has played in Yum!’s history. Pizza Hut was built by the passion and dedication of our team members, employees and franchisees, and we’re excited for the next chapter.”

The sale comes during a challenging period for the company. According to Yum! Brands, Pizza Hut’s sales growth has lagged behind the company’s other major brands, including KFC and Taco Bell.

Earlier this year, Yum! Brands announced plans to close 250 Pizza Hut locations across the United States. The chain currently operates more than 6,000 restaurants nationwide.

Industry analysts say Pizza Hut has struggled to keep pace with competitors, particularly Domino’s, which has gained market share through stronger delivery operations, online ordering technology, menu innovation, and marketing efforts.

Yum! Brands first revealed in November that it was exploring strategic options for Pizza Hut following declining comparable-store sales.

Pizza Hut was founded in 1958 in Wichita, Kansas, and grew into one of the world’s largest pizza chains. PepsiCo acquired the company in 1977 before spinning off its restaurant division in 1997, creating what is now Yum! Brands.

The sale marks one of the biggest restaurant industry deals of the year and could signal major changes ahead for the iconic pizza brand as new owners attempt to revive growth and compete in an increasingly crowded market.

Rarely Seen North Carolina Artifact Featured in Brand-New Smithsonian America 250 Exhibition

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Rarely Seen North Carolina Artifact Featured in Brand-New Smithsonian America 250 Exhibition

Museum collections are displayed in glass and wood exhibition cases.Opening this Thursday, June 18th, at the Smithsonian National Museum of Natural History, “From These Lands: Sharing Our Natural and Cultural Heritage” is a groundbreaking new exhibition commemorating America’s 250th anniversary through more than 600 rare objects and specimens representing all 50 states, the District of Columbia, and the five U.S. territories. Drawn from the museum’s collection of more than 148 million artifacts and specimens, the 5,000-square-foot exhibition explores the people, landscapes, discoveries, traditions, and defining moments that have shaped the United States across millions of years of natural and cultural history. Many of the objects on display have rarely or never before been exhibited publicly.

Representing North Carolina in the exhibition are fossil “megalodon” teeth, one of 14 objects from the state featured in the From These Lands exhibition. North Carolina’s state fossil is not a whole organism. Instead, it is the teeth of the mega toothed shark (Otodus megalodon), commonly known as “megalodon.” This extinct species lived between 3 and 5 million years ago and grew up to 60 feet long—three times the size of a modern great white shark. These colossal creatures sported several rows of sharp, 6-inch teeth that helped them take down large prey such as whales, seals, sea cows and sea turtles. Fossils like these reveal the presence of ancient species that once dominated marine ecosystems.

The exhibition highlights the unique natural, cultural, scientific, and historical contributions connected to North Carolina and is expected to be viewed by millions of visitors from around the world during its multi-year engagement in Washington, D.C.

“This exhibition brings the entire country into one gallery,” said Kirk Johnson, Sant Director of the Smithsonian’s National Museum of Natural History. “As the country marks its 250th anniversary, ‘From These Lands’ presents an opportunity to celebrate the diversity of our landscapes, the depth of our history and the connections that link people and the natural world across borders.”

New Data Shows Sharp Increase in Charlotte-Area Foreclosures

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New Data Shows Sharp Increase in Charlotte-Area Foreclosures

The Charlotte region saw a sharp increase in foreclosure activity this spring, as our region experienced a sharp spike that far exceeded the national trend.

According to new data from ATTOM, the Charlotte metro recorded 517 foreclosure filings in April, up from 309 during the same month last year. The 67% increase was significantly larger than the nationwide annual increase of 18%.

While foreclosure activity remains below pre-pandemic levels, Charlotte’s surge is raising concerns among housing experts and local officials who are closely monitoring signs of growing financial stress among homeowners.

Nationally, ATTOM reported 42,430 properties with foreclosure filings in April 2026. Foreclosure starts increased 12% year-over-year, while completed foreclosures jumped 42% to 5,098 properties.

The Charlotte area’s real estate market suggests some homeowners may be struggling with higher housing costs, insurance premiums, and borrowing expenses.

Housing analysts are now watching to determine whether the spike represents a temporary clearing of backlogged cases or the beginning of a broader trend.

A sustained increase could have ripple effects across the region, potentially adding pressure to an already tight housing market and increasing demand for rental housing.

For now, experts say it’s too early to know whether the jump is an isolated event. However, Charlotte’s foreclosure activity is moving sharply higher at a time when affordability remains a challenge for many households.

First Tropical Threat of Hurricane Season Could Bring Damaging Winds to Carolinas

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First Tropical Threat of Hurricane Season Could Bring Damaging Winds to Carolinas

UPDATE 6/18/26 11:00am:

The remnant of Tropical Storm Arthur will be arriving in the Charlotte region later today into tomorrow morning, bringing tons of rain and possible damaging winds.

Please stay weather aware.

ORIGINAL ARTICLE 6/16/26 9:00am:

The first tropical system of hurricane season has formed in the Gulf of Mexico, and it could strengthen enough to bring heavy rain and potentially damaging winds to parts of the Carolinas later this week, according to official models.

Potential Tropical Cyclone One developed Tuesday and could become Tropical Storm Arthur by Wednesday. The National Weather Service is watching for the possibility that the system could continue strengthening after moving inland, increasing the risk of stronger wind gusts as it approaches South Carolina.

Tropical Storm Watches are already in effect for portions of Louisiana and Texas.

For the Charlotte region, rain is expected to arrive early Friday, with periods of heavy downpours possible throughout the day. Current forecasts suggest some locations could receive around an inch of rain.

The exact rainfall totals and wind impacts will depend on the storm’s track and how much it strengthens over the next several days.

Forecasters will continue monitoring the system closely as new forecast models become available throughout the week.

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