Charlotte returns to top 10 of emerging real estate markets for 2027

CHARLOTTE — Charlotte is back in the top 10 of a national ranking of real estate markets to watch in the coming year.

The Queen City landed at No. 10 in the 2027 Emerging Trends in Real Estate report from the Urban Land Institute and PwC, according to the Charlotte Business Journal.

That’s a four-spot improvement from last year’s ranking of No. 14 and an eight-spot jump from No. 18 in 2024. Charlotte last made the top 10 in 2022.

The city’s homebuilding outlook was less promising. Charlotte ranked No. 24 for homebuilding prospects, down from No. 20 last year but up from No. 27 in 2024.

The report evaluated 81 markets across the United States. Dallas-Fort Worth topped the list for the third consecutive year, followed by Nashville at No. 2 and Miami at No. 3. Raleigh-Durham ranked No. 4.

Other markets in the Carolinas included Charleston at No. 26 and Greenville, South Carolina, at No. 32.

Now in its 48th year, the annual report examines opportunities, risks and market trends expected to shape the real estate industry. This year’s findings draw on insights from nearly 1,500 real estate investors, developers, lenders and advisers across the United States and Canada.

The 2027 report, titled “You Have to Work for It,” describes a market where investors face pressure on profitability and increased competition for capital, even as changing market conditions create opportunities.

Theresa Burnett, executive director of ULI Charlotte, said the city’s improved ranking reflects confidence in its long-term outlook despite challenges in the current real estate cycle.

“Charlotte’s return to the top 10 reinforces what we are hearing from local real estate leaders,” Burnett said. “There is a distinction between the challenges of the current real estate cycle and confidence in Charlotte’s long-term trajectory.”

Burnett pointed to population and job growth, corporate investment, a deep talent base and economic diversification as factors supporting the region.

She said performance varies across property types. Retail remains strong, particularly grocery-anchored and experiential developments, while high-end office space is performing well even as older buildings face challenges.

Multifamily housing continues to see underlying demand despite rent concessions and slower rent growth.

Looking ahead, Burnett said the region’s ability to keep pace with growth will be important to its long-term competitiveness.

She pointed to infrastructure capacity, housing affordability, the development process, public safety, and continued investment in the community as key factors.

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