Plaza Midwood, Charlotte, NC—28205
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Plaza Midwood, Charlotte, NC
As of Oct '25, the median home price in Plaza Midwood, Charlotte, NC is $454,000, with a year-over-year change of -1.0%. This indicates that home prices in Plaza Midwood, Charlotte, NC are flat. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $454,000 | -1.0% |
| Single Family | $474,000 | -0.4% |
| Condos | $285,000 | -1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $270,000 | 5.1% |
2 Bed | $385,000 | -0.8% |
3 Bed | $465,000 | -1.1% |
4 Bed | $843,000 | 1.4% |
| 5 Bed | $1,255,000 | 3.5% |
% of Housing Stock
Rental Trends — Plaza Midwood, Charlotte, NC
As of July '25, Rentcast reports the average rent in Plaza Midwood, Charlotte, NC is $1,980, with a year-over-year rent change of -10.0%. Per bedroom, the median rent as of July '25 in Plaza Midwood, Charlotte, NC is studios: $1,540, 1-bedrooms: $1,560, 2-bedrooms: $1,980, 3-bedrooms: $2,660, 4-bedrooms: $3,610. The most common rental property sizes in Plaza Midwood, Charlotte, NC are 2-bedroom and 1-bedroom, accounting for 48.2% and 26.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,760 | $1,980 |
| Studio Rent | $1,500 | $1,540 |
| 1 Bed Rent | $1,570 | $1,560 |
| 2 Bed Rent | $1,800 | $1,980 |
| 3 Bed Rent | $2,350 | $2,660 |
| 4 Bed Rent | $3,400 | $3,610 |
% of Rental Stock
Property Listings — Plaza Midwood, Charlotte, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Plaza Midwood, Charlotte, NC is 61. This is a increase of 7.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $539,000 | 1.0% |
Listing Count | 311 | 19.0% |
| Listings as % of Homes | 0.8% | 19.0% |
Days on Market | 61 | 7.0% |
Demographics — Plaza Midwood, Charlotte, NC
As of the latest ACS Survey released in 2023, Plaza Midwood, Charlotte, NC has a population of 51,300, which has increased by 5.7% over the past 5 years. Plaza Midwood, Charlotte, NC is a moderately popular place for families, as children make up 20.8% of the population. The area has a highly educated workforce, with 46.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 51,300 | 5.7% |
% Under 18 | 20.8% | 3.5% |
% Seniors | 8.8% | 4.8% |
% WFH | 22.6% | 370.8% |
% w/ College Degree | 46.5% | 27.4% |
As of the latest ACS Survey released in 2023, Plaza Midwood, Charlotte, NC is a predominantly white area, with 44.9% of the population identifying as white. The white population has grown by 4.2% in the last 5 years. The second most common race or ethnicity in Plaza Midwood, Charlotte, NC is black, making up 25.1% of the population. Foreign-born residents account for 20.1% of the population in Plaza Midwood, Charlotte, NC, and this percentage has decreased by 6.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 44.9% | 4.2% |
% Black | 25.1% | -12.2% |
% Hispanic | 21.6% | 10.2% |
% Asian | 4.9% | -10.9% |
% Foreign Born | 20.1% | -6.5% |
Mortgage and Risk — Plaza Midwood, Charlotte, NC
According to HUD data as of 2023, there were 1168 mortgage originations in Plaza Midwood, Charlotte, NC, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Plaza Midwood, Charlotte, NC. Investor activity is low, as 3.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,168 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Plaza Midwood, Charlotte, NC
As of 2024, the percent of homes in Plaza Midwood, Charlotte, NC under the Section 8 program is 5.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Plaza Midwood, Charlotte, NC, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 797 |
Total Units Section 8 | 743 |
% Rentals under Section 8 | 5.7% |
% Occupied Section 8 | 72.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $1,570 | $1,540 |
| 2 Bedroom | -$100 | $1,800 | $1,700 |
| 3 Bedroom | -$250 | $2,350 | $2,100 |
| 4 Bedroom | -$740 | $3,400 | $2,660 |
Affordability — Plaza Midwood, Charlotte, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.9 |
| Median Home Price | $454,000 |
| Median Household Income | $72,500 |