Charlotte’s homeless population reached 2,784 in June 2024. The State of Housing Instability and Homelessness Report, released Jan. 9, reveals this represents a 3% increase from 2023. The number of people living on the streets jumped by 33%. The city’s affordable housing stock dropped to just 8% from 45% in 2011. Charlotte currently needs 27,693 units for families with low incomes.
Most people who rent for under $75,000 can’t keep up with housing costs. These families spend more than 30% of their income on housing. The city saw 13,000 eviction filings, a 37% jump in one year.
Several factors are hitting the housing market hard. Only 3,200 homes are available for sale, 3% less than last year. Rising material costs, lack of workers, and building regulations are slowing down new construction…