Charlotte. Austin. Raleigh/Durham. What do these metropolitan areas have in common? Well, there’s a lot — from their thriving arts scenes, to their Southern charm, to the delicious foodie offerings that abound in every direction.
But perhaps most importantly, these three enclaves are listed among U.S. News & World Report’s 25 Fastest-Growing Places in the Country — a ranking based on net migration (i.e., how many new people move to a given place in a five-year period). At Mood Interior Designs, we operate in these communities (and then some!), and have had the privilege of witnessing that growth firsthand.
Playing a part in local population booms isn’t just rewarding on a personal level — it’s taught us a lot, too! For multifamily developers and investors looking to harness growth in their own communities, here are a few key insights we’ve gained along the way.
Reflect The One-Of-A-Kind Landscape & Culture
The fastest-growing places tend to be among the most popular metro areas in their state — Austin is No. 1 in Texas, for example, while Raleigh/Durham and Charlotte are No. 1 and No. 2 in North Carolina, respectively. They’re also the kind of locales with enough name recognition to be known by city alone — no state clarifier needed. (Kind of like a one-name — or mononym — celebrity à la Beyoncé, Adele, Shakira, or Rihanna, right?)
All that is to say, these cities are rich in character — and that’s bound to be a large part of why so many people are moving in! As a multifamily or student housing developer, you can capitalize on local charm with subtle nods throughout your clubhouse and community. Showcase the local geography, if possible, with well-positioned pool views or picture windows. Reflect natural color schemes in your furniture and décor choices. Opt for wall hangings, coffee table books, and anything else that ties into the local je ne sais quoi — so when it comes time for tours, potential residents are left with a positive, one-of-a-kind impression of your space as part of the local *insert iconic city here* culture.
Stay On The Edge Of Local Trends & Preferences
When communities grow quickly, local trends tend to evolve just as fast! Custom research from Mood Interior Designs can help you stay on top of changing styles and preferences, so you know exactly how to entice today (and tomorrow)’s potential leasee.
Get To Know Your New Neighbors
It’s not enough to simply know your community is booming — ask yourself, who’s moving in? Are young professionals flocking to your area for a rising job market? Are families transplanting from a larger metropolitan hub nearby in search of something more suburban? These are just a few possible answers, of course, and most community booms will be fed by more than one source alone — hence, the boom! But by getting a better idea of the local population makeup, you’ll know how to serve and attract new residents — and when you’re a multifamily housing developer, that’s everything.
These fast-growing communities may have made the top rankings — but at Mood, we proudly offer our turnkey design services in metropolitan hubs across the country, too! Contact us today to see what we can do for your multifamily or student housing community. We can’t wait to work with you.
