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Charlottesville and Albemarle County should expect a 5,000 – 8,000 person uptick in population in the next 24 months.

The UVA Biotechnology Institute and the UVA Data Science School will be the drivers of this incremental increase, which will be a very wealthy influx of new residents.

Both schools will be cutting-edge and world-class in their respective fields. Both schools will birth economic ecosystems of small, medium and big businesses latched onto them to procure talent and ideas. Both schools will attract white-collar professionals with earning potential well above area median family household income ($125,800).

This 5,000 – 8,000 stampede will significantly impact housing in Charlottesville, Albemarle County and across Central Virginia. This technology gold rush will force the middle class into surrounding counties at an even more aggressive rate.

If you think affordability is challenging now, wait until you see what happens in 24 months. Please prepare yourselves accordingly.

Did you know there are four significant build-to-rent development projects being constructed right now within three miles of each other in Charlottesville and Albemarle County? (more…)