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MARKET RESEARCH

Downtown Macon is ideal for a variety of investment and development opportunities. NewTown Macon is constantly developing new market research to induce and guide investments downtown

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THE BASICS

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6X

the growth rate of Macon-Bibb County

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431

businesses 

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25,000+

employees

Downtown Macon saw its first population increase in a generation in the 2010 census, growing at six times the rate as the county as a whole. Downtown is also one of Macon’s most diverse areas. Downtown boasts 400+ active businesses in almost all sectors, where over 25,000 people work each day, representing nearly half of the city’s workers and over a quarter of our MSA’s employees. This density of employees provides easy access to customers for businesses that start-up or relocate downtown. 

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  • Black 53%

  • White 39%

  • Hispanic 4%

  • Asian 2%

  • Other 2%

RESIDENTIAL MARKET

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1000

residents

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650

market-rate rental lofts

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95%

loft occupancy rate

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61%

younger singles and couples

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25%

empty nesters

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35%

new residents not from Macon

Macon’s hottest investment is downtown housing, thanks to a surging and sustained demand for loft housing in Macon’s most walkable neighborhoods. Downtown Macon boasts WalkScores that enable residents to take care of daily errands without a car.

Because of those amenities, approximately 1,000 residents live in 650 market-rate rental lofts in downtown Macon. Our most recent market analysis was completed in 2019 and projects market demand until 2024. Demand is projected to increase over this period, with annual demand as follows:

  • Rental Lofts/Apartments: 146-174 units per year

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  • For Sale Lofts/Apartments: 6-7 units/yr

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  • For Sale Townhouses/Live-work: 12-14 units/yr

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  • For Sale Urban Houses: 36-40 units per year

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The urban loft market is also diversifying, with younger singles and couples representing 61% of the market and an increasing share of empty nesters & retirees (25%) and traditional and non-traditional families (14%) moving into downtown housing. Approximately 35% of our new residents relocate to downtown from outside of our region, increasing our population.

Occupancy rates track around 95% month-to-month after initial lease-up periods of six months. The 2019 market study projects rates between $1.25/sf to $1.84/sf in 2019 dollars, although actual rates reflect a much wider range of under $1/sf for subdivided houses to over $2/sf for all-inclusive luxury rentals. Both developers and tenants will find market opportunities to suit every budget within walking distance of downtown Macon.