Feb 7, 2024 - News

🏅 Charlotte ranks No. 10

charlotte skyline

Rounding out the top 10 among large metro areas were Nashville; Northwest Arkansas; Dallas and Olympia, Washington. Photo: Katie Peralta Soloff/Axios

Charlotte ranks 10th in the Milken Institute's latest annual list of the best-performing cities.

Why it matters: These metropolitan areas offer high wages, plentiful jobs, a (relatively) low cost of living and thriving tech sectors — making them economic models for the rest of the nation, Axios' Jennifer Kingson writes.

How it works: The Milken Institute, a nonpartisan nonprofit, assessed 403 U.S. metropolitan areas using 13 economic metrics, based on data from January 2022-August 2023.

  • The report divided cities into large metros (more than 275,000 people) and smaller ones.

Zoom in: The Charlotte-Concord-Gastonia region entered the top 10 list for the first time in over a decade, the report states. The region jumped 10 spots from the last ranking.

  • Recent job and wage growth — primarily led by the leisure and hospitality sectors — pushed Charlotte to the top.
  • Yes, but: Charlotte has the highest income inequality among the top 10 cities, with wide racial and economic disparities across the
    metro area, the report found.

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