Earlier this month, we discussed a national, upward trend in rental households that can be attributed (at least largely in part) to millennials who are “leaving the nest.” The logic is sound, but it implies that the renting trend may be temporary. After all, aren’t all renters saving to buy a home? Evidence here in Charleston suggests otherwise…
Local experts, like Dan Doyle of The Beach Co., believe that there has been a “fundamental shift” in how people choose to live, and the proof is in the pudding. According to the Charleston Regional Business Journal*, local companies are investing heavily in new construction. The Charleston area will be gaining several new complexes including:
The Factory at Garco Park
The Parks at Nexton
Shade Tree Apartments
930 NoMo at CofC
Existing complexes are expanding as well, and major additions will include:
Boulevard – 105 new units
Crowne at Maybank Village – 300 new units
A TREND WITH BENEFITS
This upward trend carries benefits for Charleston renters and property owners alike. Property owners can capitalize on growing demand, and as the rental market grows, renters will have more options available (choice amenities and access to affluent areas). We regularly add new listings, and we’re eager to keep you informed! Join our mailing list to receive updates.
*Visit http://www.charlestonbusiness.com/news/53872-shift-to-apartment-living-spurs-growth to read more about local development.