TSCG Analytics uses Zonda data to track residential growth across East Coast MSAs, highlighting Atlanta's lead in development. Upcoming analyses will focus on development density per square mile, reflecting population trends and planning insights.
Understanding where residential development activity is occurring is crucial in helping retailers keep a pulse on new and emerging markets. TSCG Analytics subscribes to Zonda Development data tracking this phenomenon across 32 Metropolitan Statical Areas spanning the east coast.
Past 5 Years (2019-2023) Built out (All planned homes have been constructed and observed in an occupied status.)
· The Atlanta MSA experienced the most residential development in the past 5 years (2019-2023) than 32 other MSAs throughout the E and SE.
· Second was Orlando, third Tampa, fourth Charlotte, fifth Raleigh
Active Residential Development (First offering of lots have been developed and home building can occur.)
· Atlanta MSA is also experiencing the most active residential development now.
· Second Orlando, third Nashville, fourth Charlotte, fifth North Port, FL
Future Residential Development (Submitted for consideration to the municipality for development approval/zoning. Lots are not ready for homes to be constructed upon them.)
· Orlando MSA has the most future development planned.
· Second is Tampa, third is Atlanta, fourth is Jacksonville, fifth is Miami
Key Takeaways
· Southeastern MSAs are experiencing significant residential development which can be backed by migration data into those areas.
· The Atlanta MSA is experiencing the mostresidential development by volume at the moment as well as in the past 5 years,while this MSA is the largest among the 5 both in total population and area, itranks 3rd among the MSAs for population density being less densethan Tampa and Orlando.
In our next blog post we will explore this data further by normalizing for land area to understand the number of homes being built per sq mi.