Several markets across North and South Carolina have seen remarkable inventory growth in the past five years. Wilmington was one of the nation’s best performers, with an inventory increase of around 30% since 2019. (All that translated to a pretty significant increase in renter households, too.) Among the nation’s largest 150 apartment markets, only two others outside of the Carolinas saw more intense growth – Huntsville, AL and Boise City, ID, according to data from RealPage Market Analytics. Carolinas markets with five-year growth rates around 15% to 25% include Charleston, Charlotte, Myrtle Beach, Raleigh/Durham, Greenville/Spartanburg and Asheville. Helping inspire new apartment development activity, population growth has been significant recently in several of these markets, and demand volumes across the Carolinas have been some of the best nationwide.
For more information on the state of apartment markets in the Carolinas, including forecasts, watch the webcast Market Intelligence: Q2 Carolinas Update.
