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 that enable residents to take care of daily errands without a car.
Because of those amenities, approximately 850 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
- For-Sale Lofts/Apartments: 6-7 units per year
- For-Sale Townhouses/Live-work: 12-14 units per year
- For-Sale Urban Houses: 36-40 units per year
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 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.
by its residents on retail services downtown.
Downtown also acts as a natural incubator. Because of the density of jobs and residents, downtown is a great place to test a new idea. Storefronts are available in a variety of locations, conditions, prices and sizes, many with unique historic charm and unusual amenities. Nowhere in middle Georgia enjoys a greater diversity of available retail space.