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North Carolina is experiencing significant growth, with cities like Charlotte, Asheville, and Raleigh leading the charge. Additionally, Durham has established itself as a burgeoning tech hub, often referred to as the “Silicon Valley of the South.” As the state’s economy thrives, many residents are eager to know which cities are witnessing the fastest wage increases. Utilizing the latest data from the American Community Survey, we compiled a ranked list of North Carolina cities with the highest household income growth rates.
Here are our findings:
For those interested in a broader perspective, below is a chart detailing household income growth in the 20 largest cities in North Carolina:
We’ll dive into our top 20 list shortly, but first, let’s explain how we gathered our data and established our rankings.
Methodology
To analyze income growth across North Carolina, we utilized the most recent data from the 2017-2021 American Community Survey provided by the US Census Bureau. We specifically examined the table on income over the past 12 months (in 2021 inflation-adjusted dollars). By focusing on household data, we identified the cities with the highest income growth rates and ranked them accordingly.
Below is our detailed breakdown of the top 20 cities experiencing the fastest household income growth in North Carolina:
1. Farmville
Percentage of Household Income Growth: 22.8%
Description: Farmville, located in the Inner Banks of NC and designated as a Tree City USA community, boasts the fastest-growing household income in the state.
2. Wendell
Percentage of Household Income Growth: 22.6%
Description: A charming town near Raleigh, Wendell is known for its unique pronunciation of its name and its close-knit community atmosphere.
3. Carrboro
Percentage of Household Income Growth: 20.5%
Description: Located adjacent to Chapel Hill, Carrboro is famous for its farmer’s market and vibrant music scene, attracting a diverse population.
4. Kinston
Percentage of Household Income Growth: 18.8%
Description: Kinston, a two-time All-America City Award winner, is rich in history and culture, making it a desirable place to live.
5. Carolina Beach
Percentage of Household Income Growth: 18.7%
Description: A popular summer destination, Carolina Beach offers a vibrant beach community, attracting visitors year-round.
6. Lake Norman of Catawba
Percentage of Household Income Growth: 17.8%
Description: Nestled by Lake Norman, this town is a retreat for vacationers and retirees alike, known for its scenic beauty.
7. Pinehurst
Percentage of Household Income Growth: 17.2%
Description: Home to the prestigious Pinehurst Resort, this town has a storied golfing history and continues to attract enthusiasts.
8. Porters Neck
Percentage of Household Income Growth: 15.4%
Description: A rapidly growing community since its establishment in 1989, Porters Neck is known for its upscale living and golf communities.
9. Morehead City
Percentage of Household Income Growth: 15.1%
Description: This port town offers a vibrant fishing and diving community, attracting outdoor enthusiasts and tourists.
10. Rockingham
Percentage of Household Income Growth: 13.2%
Description: Rockingham, known for its rich musical heritage, is experiencing a renaissance with new businesses and cultural events.
11. Aberdeen
Percentage of Household Income Growth: 12.6%
Description: With a history tied to railroads and golf, Aberdeen is a small town with a growing economy and community spirit.
12. Waxhaw
Percentage of Household Income Growth: 11.4%
Description: Waxhaw, named after local indigenous people, is notable for its historical significance as the site of the first gold discovery in the U.S.
13. Clayton
Percentage of Household Income Growth: 10.8%
Description: Clayton’s proximity to the Research Triangle has spurred its growth, making it a desirable location for families and professionals.
14. Morrisville
Percentage of Household Income Growth: 9.8%
Description: Morrisville has rapidly expanded since the 1990s, becoming a vibrant community with a diverse population.
15. Mebane
Percentage of Household Income Growth: 9.8%
Description: Mebane serves as a bridge between the Research Triangle and Piedmont Triad, offering a unique blend of both regions.
16. Apex
Percentage of Household Income Growth: 8.7%
Description: Apex has been gaining recognition as a desirable place to live, attracting both families and young professionals.
17. Chapel Hill
Percentage of Household Income Growth: 7.8%
Description: Known for its vibrant community and home to the University of North Carolina, Chapel Hill continues to thrive.
18. Woodfin
Percentage of Household Income Growth: 7.5%
Description: Once struggling, Woodfin is now thriving as new residents are drawn to its proximity to Asheville’s amenities.
19. Boone
Percentage of Household Income Growth: 6%
Description: Boone, home to Appalachian State University, is known for its vibrant college atmosphere and outdoor activities.
20. Oak Island
Percentage of Household Income Growth: 5.8%
Description: Despite facing natural challenges, Oak Island has shown resilience and continues to thrive with recent developments.
Conclusion
North Carolina’s cities are on the rise, showcasing impressive wage growth and economic development. For those interested in exploring more opportunities, check out additional resources at Zippia.
Are you a sports enthusiast? Discover how college football coach salaries impact graduation rates.
For more insights on North Carolina, explore our article on the best companies to work for in Charlotte, North Carolina.
Author
Ryan Morris was a writer for the Zippia Advice blog who tried to make the job process a little more entertaining for all those involved. He obtained his BA and Masters from Appalachian State University.
