Skip to content

Southeast Real Estate Investment Market Report: September 2020

co-living, living room and kitchen

Co-Living: What Is It and Will It Survive COVID-19?

A housing option that was once utilized primarily by college students is becoming more popular among young professionals across the globe. With rent prices rocketing in many primary-market cities like New York, San Francisco, Seattle, Washington D.C., and Chicago, urban life is out of reach for many, unless they pool their living resources in a co-living situation. This trend can be a good opportunity for investors as well as a great way for young people to live in urban centers. But will it survive the pandemic?

Will Co-Living Survive COVID-19?

Market Activity

Atlanta, GA
Market Overview

Atlanta’s economy continues to bounce back. The metro area is experiencing an uptick in its workforce, falling unemployment rates, and increased commercial real estate activity. The national unemployment rate dropped 8.4 percent in August, creating 1.4 million jobs, according to Colliers International.

1,432
Homes Sold
$352,000
Avg. Home Price
$1,713
Median Rent
U.S Census Bureau: second quarter 2020
6.4%
Rental Vacancy Rate
0.8%
Homeowner Vacancy Rate
5.6%
State Unemployment Rate
Metro Area Unemployment
Albany, GA
6.5%
Athens-Clarke County, GA
4.7%
Atlanta-Sandy Springs-Roswell, GA    
6.3%
Augusta-Richmond County, GA-SC
5.3%
Brunswick, GA
5.7%
Chattanooga, TN-GA
6.7%
Columbus, GA-AL
6.1%
Dalton, GA
5.2%
Gainesville, GA
3.9%
Hinesville, GA
5.0%
Macon-Bibb County, GA
6.0%
Rome, GA
4.7%
Savannah, GA
6.4%
Valdosta, GA
5.0%
Warner Robins, GA
4.6%

Market Activity

Charlotte, NC
Market Overview

North Carolina continues to grapple with the effects of the pandemic. New cases were down significantly in early August, but by month end diagnoses were hitting all-time highs. The eviction moratorium for the state expired in June, but the Federal Government announced a new, nationwide eviction moratorium that halts evictions through December 31, 2020. This could afford struggling renters more protection through the end of the year. Amidst the uncertainty, the multifamily sector has remained active with several notable deals.

1,530
Homes Sold
$295,000
Avg. Home Price
$1,397
Median Rent
U.S Census Bureau: second quarter 2020
4.6%
Rental Vacancy Rate
0.6%
Homeowner Vacancy Rate
6.5%
State Unemployment Rate
Metro Area Unemployment
Asheville, NC
7.0%
Burlington, NC
6.7%
Charlotte-Concord-Gastonia, NC-SC   
7.2%
Durham-Chapel Hill, NC
6.0%
Fayetteville, NC
9.1%
Goldsboro, NC
6.3%
Greensboro-High Point, NC
7.9%
Greenville, NC
6.6%
Hickory-Lenoir-Morganton, NC
6.8%
Jacksonville, NC
6.3%
Myrtle Beach-Conway, SC-NC
8.1%
New Bern, NC
5.9%
Raleigh, NC
6.1%
Rocky Mount, NC
9.1%
Norfolk-Newport News, VA-NC  
7.4%
Wilmington, NC
6.4%
Winston-Salem, NC
6.7%

Market Activity

Orlando, FL
Market Overview

According to Norada Real Estate Investments, Orlando remains one of the fastest-growing metro areas in the country, with annual job growth near 4.4 percent. Experts predict that the region is on track to experience its largest-ever growth within the next 10 years. Orlando is currently adding science, technology, engineering, and mathematics (STEM) jobs at a faster rate than some Bay Area cities. Orlando was ranked among Forbes’ 15 Best Big Cities for Jobs, noting STEM job growth as a significant contributing factor.

1,259
Homes Sold
$280,000
Avg. Home Price
$1,447
Median Rent
U.S Census Bureau: second quarter 2020
7.1%
Rental Vacancy Rate
1.4%
Homeowner Vacancy Rate
7.4%
State Unemployment Rate
Metro Area Unemployment
Cape Coral-Fort Myers, FL
7.1%
Crestview-Destin, FL
4.5%
Deltona-Ormond Beach, FL
7.0%
Gainesville, FL
4.9%
Homosassa Springs, FL
7.3%
Jacksonville, FL
5.8%
Lakeland-Winter Haven, FL
9.4%
Miami-West Palm Beach, FL
8.5%
Naples-Immokalee-Marco Island, FL
7.0%
North Port-Sarasota-Bradenton, FL
6.3%
Ocala, FL
6.3%
Orlando-Sanford, FL
11.0%
Palm Bay-Melbourne-Titusville, FL
6.2%
Panama City, FL
5.2%
Pensacola-Ferry Pass-Brent, FL
5.5%
Port St. Lucie, FL
6.8%
Punta Gorda, FL
6.7%
Sebastian-Vero Beach, FL
7.0%
Sebring, FL
6.8%
Tallahassee, FL
5.6%
Tampa-St. Petersburg, FL
6.8%
The Villages, FL
6.6%
Homes sold and average home price data is from Redfin.com. Median Rent data is from rentcafe.com. 

Market Report Newsletter Signup

Signup to receive market reports by email
  • This field is for validation purposes and should be left unchanged.