The U.S. apartment market has seen elevated construction levels. But construction activity has been concentrated in some spots more than others. Moooresville, NC is one of nation’s 10 busiest submarkets for apartment construction.
Placing in the No. 5 slot on the list of rapid inventory growth submarkets is Mooresville in the Charlotte metro. Mooresville’s apartment inventory growth rate since 2012 is 44.8%.
So what makes this area of Charlotte so hot for apartment development?
Mooresville is Charlotte’s far northern-most submarket. The town of Mooresville, located right off Interstate 77, is the driver of growth within the submarket. Interstate 77 gives those who live in apartments in Mooresville, NC excellent access to downtown Charlotte, which is approximately 20 miles away. On the western edge of town lies Lake Norman.
Most importantly, Mooresville is located in Charlotte’s northbound growth path, which is a prime reason that apartment living is so popular here. The town of Mooresville, specifically, and the surrounding areas are growing pretty quickly. Over the past decade, Mooresville’s population has grown 74%.
Mooresville is considered to be a commuter town, but it is also in an area that the Mooresville Tribune called a “triangle of growth.” Not only is the area’s residential base growing briskly, but its economy is also becoming increasingly robust with jobs and attractions of its own.
Automotive Industry: Mooresville’s nickname is “Race City USA.” Car racing is to Mooresville as the movies are to Hollywood. The Mooresville area is home to:
- Over 60 NASCAR teams
- Lakeside Park, which is home to over 20 NASCAR teams
- Over 100 race-related suppliers
- An INDYCAR team
- Two automotive museums (North Carolina Auto Racing Hall of Fame & The Memory Lane Motorsports and Historical Automotive Museum)
- Two wind tunnels for aerodynamic testing
Speaking of jobs coming to the area, Mooresville appears to be a hotbed for companies to relocate to. In fact, Mooresville has won Site Selection magazine’s Micropolitan Award in nine out of the past 11 years. This award goes to a micropolitan area which has gained the most jobs compared to other communities of its size.
Another reason Mooresville is growing and attracting people to the area is its two school districts, which are nationally recognized for their educational programs.
The Mooresville Graded School District
- This school is well known for its digital conversion program.Each student in kindergarten through 12th grade are issued laptops. Students in fourth through 12th grades are issued MacBooks for use at home and school, while third graders receive laptops for school use and kindergarteners through second-graders have laptops and iPads on carts.
- The school district consistently contends for the best in the state for academic excellence, according to the district’s website. Both the digital conversion program and overall academic excellence prompted a visit to the Mooresville Middle School in June 2013 from President Barack Obama.
- According to its website, the school district has been recognized in numerous articles, including The New York Times, Ed Leadership, Ed Week, District Administration and American School Board Journal. This school district was also featured on PBS: The News Hour with Jim Lehrer, a Learning Matters segment.
- This school district has over 20,000 students and ranks among the 20 largest school districts in North Carolina.
- There are 36 schools within the district. According to the Iredell-Statesville Schools website, their SAT scores along with graduation rates and writing scores are among the best in North Carolina.
Recreation Activities in the Mooresville submarket include:
- Lake Norman
- Carrigan Farms: open to the public for pick-your-own fruits and vegetables, plus other outdoor activities
- Lazy 5 Ranch: drive-through safari
- Mooresville Artist Guild: located in Downtown Mooresville. Offers classes, workshops, and art exhibits.
For more information on renting in Mooresville, NC, contact Abberly Green Apartment Homes.