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.

Multifamily Highlights

Major Employers

  1. BCBS of Tennessee HQ

    6,607 jobs  | Learn More
  2. Hamilton County Schools

    5,597 jobs  | Learn More
  3. Erlanger Health System

    5,519 jobs / 911 beds  | Learn More
  4. Volkswagen

    5,500 jobs  | Learn More
  5. TVA

    3,901 jobs  | Learn More
  6. CHI Memorial

    3,634 jobs / 466 beds  | Learn More
  7. McKee Foods HQ

    3,300 jobs  | Learn More
  8. Unum Group HQ

    2,685 jobs  | Learn More
  9. Roper Corporation HQ

    2,500 jobs  | Learn More
  10. Amazon Distribution Center

    2,331 jobs  | Learn More
  11. Cigna Healthcare

    1,569 jobs  | Learn More
  12. UT Chattanooga

    1,422 jobs / 11,380 enrollment  | Learn More
  13. Parkridge Medical Center

    1,246 jobs / 275 beds  | Learn More
  14. U.S. Xpress Enterprises HQ

    862 jobs  | Learn More

Other Demand Drivers

  1. Hamilton Place Mall

    1,160,861 SF; Dillards, Belk, Dick's Sporting Goods  | Learn More
  2. Northgate Mall

    660,790 SF; Belk, AMC Theatres, Old Navy  | Learn More
  3. AT&T Field

    Home of AA Chattanooga Lookouts  | Learn More
  4. Tennessee Aquarium

    #10 Best Aquariums in US / 660,000+ annual visitors  | Learn More
  5. Chattanooga Airport

    4 commercial airlines; 8 nonstop destinations  | Learn More
  6. Chattanooga Riverfront

    16.1 miles of paved path along the Tennessee River  | Learn More
  7. Chattanooga Choo Choo

    Historic Chattanooga Hotel  | Learn More
  8. Rock City

    4,100-foot path overlooking Lookout Mountain  | Learn More
  9. Ruby Falls

    America's largest underground waterfall  | Learn More

Sources & Comments

1. Chattanooga, TN-GA Metropolitan Statistical Area consists of 6 counties, according to Office of Management and Budget: (1) Catoosa (2) Dade (3) Walker (4) Hamilton (5) Marion (6) Sequatchie

2. Primary Sources: (1) (2) YardiMatrix (3) (4) CoStar (5) (6) (7)

3. Sales Comps are from 5/1/23 – 4/30/24

4. Development Pipeline as of 4/19/24

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