www.CharlestonCommercialMarketForecast.com
Multifamily / LandAnalysis and Outlook 2013
Presented By:Dan Doyle
Charleston MSA Historical and Projected Population
2000 2010 2015 2020 -
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
142,651 177,843 187,800
309,969 350,209 360,600
96,413 136,555 152,000
549,033
664,607 700,400
Berkeley Charleston Dorchester Tri-County
Population
* Projections were provided by the Bureau of Labor Statistics. The 2012 Charleston MSA population is 697,439.
Charleston MSA Vs. National Historical and Projected Unemployment Percentage
2010 2011 2012 2013 20140.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
9.29%8.45%
7.40%
6.13% 5.93%
9.60%
8.90%
8.10%
7.20%6.60%
Local Unemployment
National Unemployment
Unemployment %
Real Data: Charleston Area Submarket Multifamily Performance Recap
Central Goose Creek James Island Mt. Pleasant North Charleston
Summerville West Ashley Tri County Area
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
$870 $853
$1,079
$1,245
$742$847 $879 $903
6.0%
4.2%
2.8%
9.1%
4.6%
6.9%
2.7%
5.2%Rental Rate
Vacancy Rate
Average Rent ($) Vacancy Rate (%)
Charleston Multifamily Construction Pipeline Breakdown
Downtown Mt. Pleasant / Daniel Island
James Island Johns Island West Ashley North Charleston
Hanahan Summerville Total -
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
656
3,113
578 528
1,717 1,391
331 784
9,098
Pipeline Unit Count
Riviera at Seaside– Mt. Pleasant, SC
Flats at Mixson– North Charleston, SC
The Parks at Nexton– Summerville, SC
Multifamily / Land
• Land
• Opportunities Still Available
• Current & Future Risks- Supply- Rising Construction Costs
On the Horizon