Now is the time to invest in real estate in North Carolina. The economy has remained strong thanks to the numerous jobs in business and information technology, and the population is ever-growing, creating a consistent demand for housing. In particular, North Carolina’s capital, Raleigh, and its largest city, Charlotte are enjoying a real estate boom which investors and property developers would be wise to take advantage of.
If you’re looking to develop or invest in real estate in North Carolina, you should focus on multi-family properties. Between its lower cost of entry and the ability to generate steady monthly income from multiple units, multi-family housing tends to be a more reliable source of profit than single-family homes. Throughout North Carolina, there are several cities which present promising development and investment opportunities for multi-family real estate.
Best Ares for Multi-Family Development in NC
• The Research Triangle – Formed by the cities of Raleigh, Durham and Chapel Hill, the “Research Triangle” is a metro area home to more than 2,000,000 people and steadily growing! The Triangle contains three large and acclaimed universities: Duke, NC State and UNC Chapel Hill. Together, these three universities have a student body of over 80,000, which creates a constant demand for multi-family real estate within the Triangle. Raleigh and Durham are also home to many science and technology corporations, which draw many young professionals to the area, further increasing the need for multi-family development in NC’s Research Triangle.
• Charlotte – The largest city in North Carolina, Charlotte has a population of roughly 875,000 with an additional 1,750,000 people living in the surrounding metro area. In the last decade alone, Charlotte has experienced a population growth of over 20% and a whopping GDP increase of 59%. Providing a steady supply of jobs in IT, finance and business as well as being a thriving cultural hub, Charlotte will continue to be a desirable place to live going forward and is one of the best areas for multi-family development in NC.
• Winston-Salem – Officially referred to as the “City of Arts and Innovation”, Winston-Salem is a hot spot for arts, education and business. With a population of 250,000, Winston-Salem enjoys a steady influx of entrepreneurs and artists and is famous for its Innovation Quarter, a district focusing on research and education. Being home to several esteemed universities including Wake Forest and UNC School of the Arts, it also has a sizable student population. Winston-Salem is projected to experience a job growth of 34% over the next ten years, which makes it one of the most promising locations for multi-family development and investment in NC.
• Asheville – Located in the Blue Ridge Mountains of western North Carolina, Asheville is a mid-sized city which saw a population growth of 13.4% between 2010 and 2020. Asheville is known for both its popular live music scene and its close access to many beautiful hiking trails and whitewater kayaking destinations. With an impressive job growth projection of 40% over the next decade, Asheville is potentially one of the most profitable cities for multi-family real estate development in North Carolina.
Invest in Multi-Family Real Estate in North Carolina
Catalyst Capital Partners is devoted to developing high-quality multi-family real estate properties in cities throughout North Carolina. If you’re interested in investing in multi-family development in NC, get in contact with Catalyst Capital Partners today!