28351, Laurel Hill, NC

The 28351 zip code of Laurel Hill, NC is located in the western suburbs of Charlotte and includes a mix of single-family homes, townhomes, and condos. The median home value in this zip code is $269,000, which is significantly higher than the statewide median home value of $174,500. In addition to being more expensive than the statewide median home value, Laurel Hill homes are also more expensive than homes in most other parts of Charlotte.

One reason for this high home value is that Laurel Hill is a very affluent area. The zip code has a population density of just over 2 people per square mile, which is much lower than the Charlotte metropolitan area population density of nearly 5 people per square mile. In addition, almost half (46%) of households in this zip code have incomes above $100,000 annually. This high level of income means that there are a lot of wealthy homeowners who can afford to pay high prices for their homes.

Another factor contributing to the high home values in Laurel Hill is the scarcity of available land within the zip code. There are only about 1% as many housing units as there are families living here (compared to an average metro area where there are about 2 housing units for every family). This limited supply means that homeownership rates in this area are very high – almost two-thirds (64%)of households in this zip code own their homes outright vs 24% who rent them. This strong homeownerhip rate helps keep prices high and makes it difficult for new residents or businesses to enter the market and increase competition for existing homeowners' properties.

Despite these factors – including a higher cost of living and greater rarity among available properties – some people do want to live in Laurel Hill because it offers many amenities not found elsewhere in Charlotte: excellent schools (especially private schools), plenty of shopping options both large and small retailers alike (including several major department stores), easy access to I-485 and I-77/I-85 which make getting around town very convenient, etc.. So while it may be harder for newcomers to get into this market than others, those who can afford it typically find that buying a home here provides great benefits both financially and emotionally