Market Highlights
Located in between Nashville, Knoxville, and Atlanta, Chattanooga is a city on the rise. One of Chattanooga’s most notable accomplishments is being the first city in the Western Hemisphere to offer 1 gigabit-per-second internet service, which has now risen to 25 gigabit-per-second. Other entrepreneurial accomplishments like being the first city to put Coca-Cola in a bottle and inventing the tow truck have earned Chattanooga the reputation for being an entrepreneur-friendly city. The largest 6 industries in Chattanooga employ over 197,000 people in the Government, Manufacturing, Education & Health Services, Professional & Business Services, Leisure & Hospitality, and Retail & Trade sectors. Recognizable companies such as BlueCross BlueShield, Volkswagen, Unum, Coca-Cola, and Amazon contribute significantly to the area’s economy. Erlanger Health System, CHI Memorial, and Parkridge Medical Center anchor the region’s healthcare sector, offering over 1,700 hospital beds. UT Chattanooga, the city’s largest university, has an enrollment of 11,380 students.
Contributing to Chattanooga’s rise has been its ability to attract new business to the region. According to the Chattanooga Area Chamber of Commerce, Chattanooga attracted 87 economic development projects from 2019-2023. These projects account for 8,319 jobs and $2,595,703,156 in Capital Investment.
Chattanooga is also well-known for being one of the country’s best outdoor cities and features over 50,000 acres of canyons, caves, mountains, streams, and rivers in seven state parks. There are also over 50 trailheads within 30 minutes of downtown in addition to ample rock climbing and caving opportunities. Chattanooga’s Riverfront area highlights a beautiful downtown, which is home to the Tennessee Aquarium (Top 10 nationally) and the Creative Discovery Museum.
The 6-county Chattanooga MSA is home to 173 apartment communities (50+ units) and 27,594 units. An additional 12 properties and 2,263 units are under construction. Chattanooga was recently named the #7 Emerging Multifamily Market in 2024 by Multi-Housing News, which cited Chattanooga’s strong construction pipeline, stable occupancy figures, growing employment market, and cost of living as the primary reasons for its ranking.
