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Discover North Carolina’s Top 20 Cities with Soaring Household Income

North Carolina has been experiencing exponential growth, particularly in terms of household income. The state has several cities that have experienced remarkable growth, and this article highlights the top 20 cities with the fastest-growing household income rates.

Additionally, it will provide insights into the growth of these cities, their unique features, and the factors that make them attractive to residents.

Top 20 Cities with Highest Income Growth

The American Community Survey is the primary source of data for this analysis. The rankings system takes into account the percentage of income growth from 2015-2019.

The following are the top 20 cities with the fastest-growing household income rates. 1.

Farmville

2.

Wendell

3.

Carrboro

4.

Kinston

5.

Carolina Beach

6.

Lake Norman of Catawba

7.

Pinehurst

8.

Porters Neck

9.

Morehead City

10.

Rockingham

11.

Aberdeen

12.

Waxhaw

13.

Clayton

14.

Morrisville

15.

Mebane

16.

Apex

17.

Chapel Hill

18.

Woodfin

19.

Boone

20.

Oak Island

Breakdown of Top 20 Cities with Fastest Growing Household Income Rates

Farmville

Farmville is a small town in the Inner Banks region of North Carolina with a population of about 5,000 people. The town was named a Tree City USA because of its commitment to maintaining and protecting its urban forest.

The town’s commitment to its trees is a reflection of its residents’ dedication to preserving its natural beauty.

Wendell

Wendell is a small town in eastern Wake County, North Carolina, with a population of about 7,000 people. The town’s name comes from Oliver

Wendell Holmes, a poet and physician from Massachusetts.

Despite its small size,

Wendell is only 20 miles from Raleigh, the state capital.

Wendell’s proximity to Raleigh makes it an attractive location for people who want to enjoy small-town living while still having easy access to a big city.

Carrboro

Carrboro is a small town in Orange County, North Carolina, with a population of about 21,000 people.

Carrboro is located next to

Chapel Hill, home to the University of North Carolina.

Carrboro has a thriving downtown area, and it is home to the

Carrboro Farmer’s Market and the Cat’s Cradle, a live music venue. The town is known for its progressive politics, and it is often seen as a hipster haven.

Kinston

Kinston is located in Lenoir County in eastern North Carolina. The city has a population of about 20,000 people and has received the All-America City Award.

During the Revolutionary War,

Kinston was the site of a major battle. Today, the city is known for its history and cultural attractions, including CSS Neuse, a museum about a Confederate ironclad ship, and a fine arts center.

Hurricanes Fran and Floyd were major natural disasters that affected the city.

Carolina Beach

Carolina Beach is located in New Hanover County, North Carolina. The town has a population of about 6,000 people but during the summer, when tourists flock to the town, the population swells to over 30,000.

Carolina Beach is known for its beaches, boardwalk, and amusement park. During the offseason, the town has a relaxed atmosphere, which makes it an attractive place to live.

Lake Norman of Catawba

Lake Norman of Catawba is a lakefront town in Catawba County, North Carolina. The town has a population of about 9,000 people and is a popular retirement destination.

During the summer, the population swells as tourists flock to the area. The town is known for its natural beauty, and it is a popular place for boating, fishing, and other water sports.

Pinehurst

Pinehurst is a small town in Moore County, North Carolina. The town is known for the

Pinehurst Resort, a world-renowned golf course.

Golfers from all over the world visit

Pinehurst to play on its courses. The town has a population of about 15,000 people, and it is a popular retirement destination.

Porters Neck

Porters Neck is a golf and country club community located in New Hanover County, North Carolina. The community is known for its golf courses and its residents, who are mostly retirees and wealthy people.

The community has a population of about 5,000 people.

Morehead City

Morehead City is a port town in Carteret County, North Carolina. The town has a population of about 9,000 people and is a popular destination for fishermen and scuba divers.

The town has several seafood restaurants, and it is known for its annual North Carolina Seafood Festival.

Rockingham

Rockingham is a small town in Richmond County, North Carolina with a population of about 8,000 people. The town is known for its relationship with music stars such as Elvis Presley and the Beatles, who performed there.

The town has a southern charm that is reflected in its architecture and people.

Aberdeen

Aberdeen is a small town in Moore County, North Carolina. The town was named after

Aberdeen, Scotland, because of its railroad connection.

The town is known for its golfing opportunities and small-town charm.

Waxhaw

Waxhaw is a town in Union County, North Carolina, that has a population of about 15,000 people. The town’s name comes from the

Waxhaws, a Native American tribe that lived in the area.

The town’s economy was based on gold discovery and railroad construction. Today, the town is known for its antiques shops and art galleries.

Clayton

Clayton is a town in Johnston County, North Carolina, with a population of about 23,000 people. The town is part of the Research Triangle, and its history and economy are based on railroad construction.

Today, the town is a popular place to live because of its small-town charm and easy access to the big city.

Morrisville

Morrisville is a town in Wake County, North Carolina, with a population of about 28,000 people. The town is known for its railroad buildings and exponential growth.

Morrisville is part of the Research Triangle, and its economy is based on technology companies. The town is a popular place to live because of its cultural diversity and easy access to the airport.

Mebane

Mebane is a town in Alamance County, North Carolina, with a population of about 15,000 people. The town is located in the Northern part of the state and is home to the Researchmont Quadrangle, which is a wildlife research center.

The town’s economy is based on industry and retail, and it is a popular place to live because of its small-town charm.

Apex

Apex is a town in Wake County, North Carolina, with a population of about 50,000 people. The town’s name comes from its location at the highest point of the Chatham Railroad.

Apex is known for its historic downtown, which has been featured in several movies and television shows. The town has been voted the Best Place to Live in the US, and it’s easy to see why.

Chapel Hill

Chapel Hill is a town in Orange County, North Carolina, with a population of about 60,000 people. The town is home to the University of North Carolina, which gives

Chapel Hill a lively and vibrant atmosphere.

The town’s economy is based on education and healthcare, and it is known for its beauty and popularity.

Woodfin

Woodfin is a mill town in Buncombe County, North Carolina, that is part of the Asheville metropolitan area. The town has a rich history, and it is named after Governor Frank

Woodfin, who served during the Civil War.

The town’s economy is based on manufacturing and tourism, and it is a popular place to live because of its proximity to Asheville and its natural beauty.

Boone

Boone is a town in Watauga County, North Carolina, with a population of about 20,000 people. The town is home to Appalachian State University and is known for its Mountaineer football team.

The town’s economy is based on education and tourism, and it is a popular place to live because of its natural beauty and outdoor recreation opportunities.

Oak Island

Oak Island is a beach town in Brunswick County, North Carolina. The town has a population of about 7,000 people but during the summer, the population swells to over 40,000.

The town is known for its new bridge and great growth potential.

Conclusion

North Carolina is a rapidly growing state, and the cities on this list are experiencing remarkable growth in terms of household income. Some of the factors driving this growth include the state’s thriving economy, natural beauty, and small-town charm.

Whether you’re looking for a retirement destination, a place to raise a family, or a small-town atmosphere near a big city, North Carolina has something for everyone. As a rapidly growing state, North Carolina has experienced remarkable growth in several sectors, particularly in the household income rates of various cities.

Understanding the factors that drive this growth can help individuals determine the best places to live or invest in, based on their lifestyle preference and financial goals.

Factors Driving Income Growth in North Carolina

One of the factors driving income growth in North Carolina is the state’s thriving economy. With a low unemployment rate and an expanding job market, it is easy to see why North Carolina is a sought-after destination.

According to the Bureau of Labor Statistics, the unemployment rate in North Carolina is 5.1%, which is below the national average. This indicates that there are several job opportunities available in the state, which is essential for income growth.

Another factor is the state’s natural beauty. North Carolina is home to several beaches, lakes, and mountain ranges, making it an ideal destination for nature enthusiasts.

These natural attractions have contributed to the growth of the state’s tourism industry, which has a direct impact on the economy. According to the North Carolina Department of Commerce, tourism generated $25.3 billion in revenue for the state in 2019, which creates jobs and drives growth.

The third factor contributing to income growth in North Carolina is its small-town charm. North Carolina has several small towns that provide a friendly and welcoming atmosphere.

These towns offer a close-knit community with unique features such as local festivals and farmers’ markets, which create a sense of belonging. For instance,

Carrboro, is a small town that is known for its progressive politics, and it is often described as a hipster haven.

These small towns are ideal for individuals looking for a slower pace lifestyle, away from the hustle and bustle of the city. Understanding North Carolina’s Fastest Growing Cities

As previously highlighted, North Carolina has several cities with notable household income growth.

Let us delve into more detail in the breakdown of the top 20 cities with the fastest-growing household income rates. 1.

Farmville

Farmville is a small town located in Pitt County, with a population of about 5,000 people. Its ranking as the city with the fastest-growing household income rates is attributed to its diverse economic base, including agriculture, manufacturing, and healthcare.

Additionally, the town participates in the North Carolina Main Street Solutions Program, which aims to revitalize rural communities. 2.

Wendell

Wendell is a small town located in eastern Wake County, with a population of about 7,000 people. Its location near Raleigh, the state capital, has driven growth in the town’s job market.

Moreover, the town has several historical landmarks, and its commitment to preserving its heritage has made it attractive to businesses and residents alike. 3.

Carrboro

Carrboro is a small town located in Orange County, with a population of about 21,000 people. Its ranking as the city with the third-fastest-growing household income rates is attributed to its location next to

Chapel Hill, home to the University of North Carolina.

Carrboro has a thriving downtown area, and it is known for its progressive politics, which have attracted several businesses to the area. 4.

Kinston

Kinston is located in Lenoir County, in eastern North Carolina, with a population of about 20,000 people. Its ranking as the city with the fourth-fastest-growing household income rates can be attributed to its thriving restaurant industry, which has developed a reputation for serving fresh, locally sourced seafood.

Additionally, the city has received several downtown revitalization grants, which have contributed to its growth. 5.

Carolina Beach

Carolina Beach is located in New Hanover County, North Carolina, with a population of about 6,000 people. Its ranking as the city with the fifth-fastest-growing household income rates is attributed to its beachfront location, which has driven growth in the town’s tourism industry.

Additionally, the town has several amusement parks, which provide opportunities for small business growth. 6.

Lake Norman of Catawba

Lake Norman of Catawba is a lakefront town in Catawba County, North Carolina. Its ranking as the city with the sixth-fastest-growing household income rates is attributed to its status as a popular retirement destination.

The town offers several housing options, including lakefront properties, and its proximity to Charlotte, the state’s largest city, has driven growth in its economy. 7.

Pinehurst

Pinehurst is a small town located in Moore County, North Carolina. Its ranking as the city with the seventh-fastest-growing household income rates is attributed to its world-renowned

Pinehurst Resort, which attracts golfers from all over the world.

Additionally, the town has a thriving healthcare industry, which has contributed to growth in its job market. 8.

Porters Neck

Porters Neck is a golf and country club community located in New Hanover County, North Carolina. Its ranking as the city with the eighth-fastest-growing household income rates is attributed to its golf courses and its wealthy residents.

The community offers several luxury housing options, and it is a popular retirement destination. 9.

Morehead City

Morehead City is a port town in Carteret County, North Carolina. Its ranking as the city with the ninth-fastest-growing household income rates can be attributed to its thriving fishing and scuba diving industries.

Additionally, the town has several seafood restaurants that are popular with tourists, which has driven growth in the local economy. 10.

Rockingham

Rockingham is a small town located in Richmond County, North Carolina. Its ranking as the city with the tenth-fastest-growing household income rates is attributed to its historical significance and charming southern town appeal.

The town has several historic sites, including the Harrington-Smith House, which dates back to the 18th century. 11.

Aberdeen

Aberdeen is a small town located in Moore County, North Carolina. Its ranking as the city with the eleventh-fastest-growing household income rates can be attributed to its golfing opportunities and small-town charm.

The town has several golf courses and is an ideal destination for individuals who are looking for a slower pace of life. 12.

Waxhaw

Waxhaw is a town in Union County, North Carolina, with a population of about 15,000 people. Its ranking as the city with the twelfth-fastest-growing household income rates can be attributed to its unique history, as it was once a small gold-mining town.

Today, the town is known for its antiques shops and art galleries, which contribute to its charm. 13.

Clayton

Clayton is a town in Johnston County, North Carolina, with a population of about 23,000 people. Its ranking as the city with the thirteenth-fastest-growing household income rates is attributed to its proximity to the Research Triangle, which has driven growth in its job market.

Additionally, the town’s small-town charm has attracted several businesses to the area. 14.

Morrisville

Morrisville is a town in Wake County, North Carolina, with a population of about 28,000 people. Its ranking as the city with the fourteenth-fastest-growing household income rates can be attributed to its location in the heart of the Research Triangle.

Additionally, the town’s diverse population has contributed to the growth of its economy. 15.

Mebane

Mebane is a town in Alamance County, North Carolina, with a population of about 15,000 people. Its ranking as the city with the fifteenth-fastest-growing household income rates can be attributed to its location in the Northern part of the state.

Additionally, the town’s proximity to several universities has driven growth in its job market. 16.

Apex

Apex is a town in Wake County, North Carolina,

In conclusion, the rapid growth of household income in North Carolina is a testament to the state’s thriving economy, natural beauty, and small-town charm. The top 20 cities with the fastest-growing household income rates provide a diverse range of opportunities for residents and investors alike.

From the coastal towns attracting tourists to the small towns known for their historical significance and quality of life, North Carolina offers something for everyone. This growth in income rates showcases North Carolina’s potential as a desirable place to live, work, and invest.

Whether you’re looking for a vibrant city or a serene small town, North Carolina has options that cater to various preferences. The state’s commitment to preserving its heritage, embracing its natural beauty, and fostering economic growth has positioned it as an attractive destination for individuals seeking a higher standard of living.

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