Homes in Charlotte saw a price per square feet increase of 59% over the past five years.
According to a new report by HomeBay the median price per square foot in Charlotte has increased from $133 to $212 since 2018 – compared to Baltimore, which saw the smallest increase (13%).
Charlotte homes have the 27th-highest price per square foot out of the 50 biggest U.S. metros. Cleveland is the least expensive city based on the price per square foot at just $133.
Overall, the median square footage of new single-family homes across the U.S. has increased 52% since 1980 — from 1,650 square feet to 2,383 square feet — while the median sale price has increased 609% — from $64,600 to $457,800.
Charlotte came in as having the 10th biggest increase in price per sq ft in the nation.
| 10 Largest Changes in Price per Square Foot | 10 Smallest Changes in Price per Square Foot |
| 1. Tampa, FL (72%) | 1. Baltimore, MD (13%) |
| 2. New York, NY (68%) | 2. San Jose, CA (18%) |
| 3. Salt Lake City, UT (67%) | 3. Detroit, MI (21%) |
| 4. Austin, TX (66%) | 4. New Orleans, LA (24%) |
| 5. Nashville, TN (63%) | 5. Cleveland, OH (24%) |
| 6. Phoenix, AZ (62%) | 6. San Francisco, CA (27%) |
| 7. Boston, MA (60%) | 7. Birmingham, AL (29%) |
| 8. Orlando, FL (60%) | 8. Chicago, IL (29%) |
| 9. Miami, FL (60%) | 9. Providence, RI (35%) |
| 10. Charlotte, NC (59%) | 10. Minneapolis, MN (35%) |
You can read the full report to learn more about the price per square foot of U.S. cities here.
