< Back to Insights
Category: Apartments, Multifamily Tags: Apartments, Greenville, Multifamily

Click to Here to Download

The Greenville metro entails a growing population of one million residents along the Interstate 85 corridor. The market benefits from the boom in industrial employment, specifically in the automotive industry. Revitalization efforts are concentrated in Downtown Greenville as office-using jobs and retailers grow. The recent population boom has drawn in developers, which have expanded inventory by 30 percent since 2015. Surprisingly, demand has kept up with these record levels of supply, with the vacancy rate at 5.7 percent. Rents have grown 13.6 percent in the last 12 months but remain affordable as they lie below national averages at $1,170 per month. Mixed-use and adaptive reuse projects are popular in the market, particularly those with turn-of-the-century-20th-century textile mills. National investors are active in Greenville as they hunt out mid-tier assets with higher-than-average cap rates.

Recent Articles

Recent Media & Thought Leadership