Charlotte is one of the most robust and growing cities the Southeast has to offer. The 15th most populous city in the United States, Charlotte is home to over 1,000 multifamily properties and over 210,000 units. Additionally, the region currently has 149 multifamily properties under construction representing an additional 35,547 units to come online over the next several years. With a YoY population growth of 2.86%, over 100 people moving to the Charlotte area every day, and a business-friendly climate, Charlotte is poised for even further growth.
The primary industries in Charlotte are Advanced Manufacturing (145,000 jobs), Financial Services (105,000 jobs), Innovation Economy (40,000 jobs), Life Sciences, and Logistics & Distribution, and the city also boasts 25 colleges and universities (Charlotte Regional Business Alliance). Atrium Health is the area’s largest employer, while Wells Fargo and Bank of America highlight the strength of Charlotte’s Financial Services industry. Charlotte is home to several professional sports teams, highlighted by the Carolina Panthers (NFL) and Charlotte Hornets (NBA), and Charlotte Douglas International Airport was recently ranked the 7th busiest airport in the world.
#2
Most Competitive Rental Market in the Southeast (CharlotteStories)
#8
Best Places to Live in U.S. (US News & World Report)
#8
Best Places for Renters to Live (RentCafe)
Multifamily Highlights
Apartment Market Overview:
1,051
Apartments (50+ units)
211,353
Total Units (50+ units)
$1,632
Avg. Asking Rent
2.0%
Rent Growth (Previous 12 Months)
90.3%
Occupancy
12-Month Sales:
$3.57B
12-month Sales Volume ($)
14,345
12-month Sales (Units)
69
12-month Sales (# of transactions)
Development Pipeline:
149
Properties Under Construction
35,547
Units Under Construction
Economic Development
Several significant economic investments are underway in Charlotte. More specifically, Red Bull, Rauch North America, and Ball Corp. are making a combined $1 billion investment into a beverage manufacturing hub in nearby Concord. Red Bull and Rauch are planning a 2 million SF manufacturing site ($740 million / 413 jobs), while Ball Corp is planning an 800,000 SF plant ($383 million / 200 jobs).
Dennis is originally from Chattanooga, TN and attended the University of Tennessee where he majored in Business Administration and Finance. He has been a Broker with TKC since 2008 and enjoys interacting with and learning from clients of different backgrounds across the globe. He also loves the competition within the industry.
Austin Haney
Carolinas
Austin Haney
Carolinas
Email: ahaney@thekirklandco.com
Phone: (931) 639-7340
Austin is originally from Illinois. He enjoys the unique opportunities that real estate provides and loves to meet people from all walks of life and backgrounds and work with them to achieve their investing goals.
Sources & Comments
1. Charlotte-Concord-Gastonia, NC-SC Metropolitan Statistical Area consists of 11 counties, according to Office of Management and Budget: (1) Anson (2) Cabarrus (3) Gaston (4) Iredell (5) Lincoln (6) Mecklenburg (7) Rowan (8) Union (9) Chester (10) Lancaster (11) York
5. This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy
