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Affordable rents run parallel with population growth for 2017

​Among economic factors that drive a city’s population growth, affordable rent growth is a strong indicator on overall attractiveness of an MSA.  

  • Charlotte’s population grew a little more than 2% over 2017, only trailing Raleigh who came in at 3%.
  • The average age in Charlotte is about 34.9. With the millennial generation maturing, we have seen a flight to quality from renters, and demand for luxury apartment units has continued to rise.
  • Affordability in major CBD’s is hard to find, especially if you’d like additional square footage. But Charlotte boasts a favorable average unit price to apartment size ratio of $1.14/sf compared to $1.24 for Charleston, and $1.27/sf for Atlanta. ​

Source: JLL Research, Rent Cafe, Bureau of Labor Statistics ​

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