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Cabarrus

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General Demographics

Total Population, 2023
240,0161
Population Change, July 2022 - July 2023
4,1071
Projected 2050 Population
374,6382
Under 18 Years Old
59,8281
Age 18-64 Years
146,8481
Age 65+ Years
33,3401
Median Age
37.73

Race / Ethnicity 4

White
58.7%3
Black/African American
18.5%3
Native American
0.0%3
Asian/Pacific Islander
5.4%3
Hispanic/Latino
12.4%3
Multi-Racial
4.2%3
Other Single Race
0.7%3
Sources

Financial Stability

Residents Below Federal Poverty Level, 2023
9.1%5
Median Household Income, 2023
$85,5405
Sources

Housing

Cost-Burdened Households (Spend 30% of Household Income on Housing)
27.9%6
Typical Home Value (July, 2024)
$375,8117
Median Gross Rent, 2 Bedroom Unit
$1,1986
Sources

Education

4-Year High School Graduation Rate
89.3%8
Postsecondary Enrollment
58.9%8
Postsecondary Attainment (25-44 Year Olds With a Postsecondary Degree/Credential)
60.2%8
Sources

Employment

2024 County Economic Distress Tier
39
Total Workforce Employed, 2023 Average
114,63110
Total Workforce Unemployed, 2023 Average
3,84410
Average Weekly Wage, 2023
$1,01211
Residents Working in Home County
56.1%12
Labor Force Participation Rate
68.1%12
Unemployment Rate (Annual Average), 2023
3.2%10
Annual Pre-Tax Living Wage - 2 Adults (1 working), 1 Child Household (Feb, 2024)
$77,08113
Average Employment Change, 2013-23
20066 (31% Growth)11
Gross Domestic Product, 2023 (Thousands of Dollars)
$11,532,96114
Top Industry By Employment, 2023
Retail Trade (12,606 employees)11
Top Employer in County, 2023
Charlotte Mecklenburg Hospital Authority (1000+ employees)11
Sources

Health

Residents Uninsured
7.8%15
County Health Outcomes Rank
816
Food Insecurity Rate, 2022
11.5%17
Primary Care Physicians Per 10K Residents, 2023
7.118
Overdose Deaths Per 100 Thousand Residents, 2022
31.419
Life Expectancy (Years)
77.620
Sources

Broadband

Households Without Computing Device (Laptop, Smartphone, etc.)
4.2%21
Broadband Availability Index Score, 2021
87.722
Households without an Internet Subscription
8.6%21
Sources

Infrastructure

Designation of Water/Wastewater System as Distressed (Aug, 2024)
No23

**Distressed is defined as a “public water system or wastewater system operated by a local government unit exhibiting signs of failure to identify or address those financial or operating needs necessary to enable that system to become or to remain a local government unit generating sufficient revenues to adequately fund management and operations, personnel, appropriate levels of maintenance, and reinvestment that facilitate the provision of reliable water or wastewater services” per Session Law 2020-79.**

Sources

Small Business: Statewide Data

Small businesses make up 99.6% (1.1 million small businesses) of all NC Businesses.24

44.2% (1.7 million small business employees) of all North Carolinians are small business employees.24

Business Ownership

Business Ownership - Women
46.0%24
Business Ownership - Veterans
7.1%24
Business Ownership - People of Color
22.8%24

Business Creation

2021
178,30025
2022
171,40025
2023
171,70025

Business Revenue

2019
$125,700,00026
2020
$141,400,00026
2021
$159,200,00026

Employment Data

Small Business Employment Change, March 2022 - March 2023
Net increase of 100,187 jobs24
Small Business Establishment Change, March 2022 - March 2023
Net increase of 7,773 businesses24

Agriculture

Farms
42,81727
Acres of Farmland
8,128,13627
Average Acreage of NC Farms
19027

Major Sectors

Major Business Sectors
Aerospace and Defense; Automotive, Truck & Heavy Machinery; Biotechnology and Pharmaceuticals; Business and Financial Services; Corporate Headquarters; Energy; Food Processing and Manufacturing; Furniture; Information Technology; Plastics and Chemicals; Textiles; Tourism28
Sources