Corporations are taking advantage of North Carolinas business-friendly climate and have steadily been adding positions. Charlotte is known as one of the nations financial centers and continues to emerge as a technology hub. Lowes just opened a new technology headquarters creating over 1,500 positions which has spilled over to their Mooresville location, a market where we own 160+ units.
Job Growth YOY: 2.4%
Rent Increase YOY: 6.6%
Corporate expansions and relocations to the Dallas metro area have become an increasingly popular trend. Texas as a whole had the best job growth in the nation, adding 332,300 jobs in 2019. Fueled by employment growth, the northern suburbs of Dallas (Frisco, Richardson, Denton) have seen strong household formations, increased rental demand, and compressed vacancy. Over 100,000 jobs have been added to the Dallas metro each of the previous 5 years.
Job Growth YOY: 3.2%
Rent Increase YOY: 3.6%