Lately, Charlotte seems to have more of everything: jobs, residents, young people — all of which has driven more demand for quality multifamily properties in urban neighborhoods with multiple lifestyle amenities. Renters’ desire for parks, transit options and walkable access to work, culture, and entertainment has led Charlotte’s Uptown/South End region to become the fastest-growing apartment submarket in the nation, according to a study by MPF Research. Since the recession, Uptown/South End has experienced a period of remarkable growth in the multifamily market, and has seen an 82 percent increase in units since 2012, the study says. Overall, renter-occupied units make up just over two-fifths, or 40 percent, of the city’s housing market, a percentage that is already higher than the national average and anticipated to increase. As more properties are built, Charlotte’s 5.1 percent vacancy rate is likely to increase over the long term, but demand is expected to remain strong as the city’s dynamic economy and population continue to grow. The area’s population is set to increase about 2 percent annually over the next five years, far outpacing the country’s overall rate of 0.75 percent. Much of that is due to an influx of well-educated, younger people moving …
