Charlotte Multifamily Market
Job Gains During COVID-19 Fueling
Heightened Demand Across Charlotte
Labor market strength bolsters rental market. The composition of employers in Charlotte has allowed the metro to better withstand and recover from the pandemic. The plethora of banking and FinTech firms in the area, including Bank of America, Credit Karma and Robinhood, have pushed employment counts in the metro to surpass pre-pandemic tallies well before the U.S. has. Swaths of labor opportunities have also resulted in high levels of population growth in Charlotte. These jobs have stabilized the local workforce and supported demand for upper-tier rentals, during a span of inventory growth. More than 7,000 new units will enter the metro this year, but expectations regarding high-skill job creation will support demand for these openings.