Charlotte Retail Market Report
Consumers Elevate Spending as Development Falls to Decade-Plus Low
In-migration aiding retailers. Skilled job creation in the metro has bolstered local rates of population growth and household formation. Over the past five years, Charlotte's resident count has expanded by nearly 185,000 people, ranking the metro among the nation's top growth markets while showing no signs of slowing down. More high-skill job creation stemming from corporate relocations has also aided budgets in a market with a relatively low cost of living. Increased discretionary spending as a result of these new job opportunities has resulted in additional leasing from retailers, as more than 1.8 million square feet was absorbed in the 12-month period ended in March.