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Updated almost 2 years ago,

User Stats

213
Posts
290
Votes
Jared Trindade
  • Real Estate Agent
  • Fayetteville, NC
290
Votes |
213
Posts

ChatGPT Market Data Analysis for Fayetteville, NC

Jared Trindade
  • Real Estate Agent
  • Fayetteville, NC
Posted

Today I asked ChatGPT a series of questions and gave it a long list prompt to spit out this market data. This is after quite a few attempts to make this a readable format. To be clear the data from CHATGPT is the same relative data you and I have access to, but it is skewed towards data from prior to 2021 or at 2021. Though through some trial an error, it's possible to get ChatGPT to pull reports that are from 2020/21 to 2023 and use that data, giving actually sound statistics. This is a case by case basis though, so use the information here as something to analyze but do not rely on. I put out posts that use the most recent numbers available, but thought I would try something new here. PLEASE, give me some feedback on how you think ChatGPT did, and if you think I may have missed something for it to cover. I have copy and pasted the entirety of the response. 

Enjoy!

Sure, here's an in-depth analysis report on Fayetteville, North Carolina:

Fayetteville is located in Cumberland County, in the southeastern part of North Carolina. It is about 65 miles southwest of Raleigh, the state capital, and is also close to the border with South Carolina.
Fayetteville has a humid subtropical climate, with hot summers and mild winters. The average high temperature in July, the hottest month, is around 90 degrees Fahrenheit, while the average low temperature in January, the coldest month, is around 30 degrees Fahrenheit. Fayetteville receives an average of around 45 inches of rain per year.

The estimated population of Fayetteville in 2021 is around 210,000. The Fayetteville Metropolitan Statistical Area (MSA), which includes Cumberland, Hoke, and Harnett counties, has an estimated population of around 527,000. Population of Fayetteville has been growing steadily over the past few decades. Between 2010 and 2020, the population increased by around 4.6%. The MSA has also been growing, with an estimated increase of around 9% between 2010 and 2020.

The median household income in Fayetteville is around $47,000, which is lower than the national average. However, the cost of living in Fayetteville is also lower than the national average. The cost of living in Fayetteville is around 9% lower than the national average, according to BestPlaces.net. Housing, transportation, and healthcare are all cheaper in Fayetteville than in many other parts of the country. The poverty rate in Fayetteville is around 20%, which is higher than the national average. This is a concern for local officials and community leaders, who are working to improve economic opportunities for residents.

Fayetteville's economy is diverse, with major industries including healthcare, education, government, and military. Fort Bragg, one of the largest military installations in the country, is located just outside of Fayetteville and is a major economic driver for the region.
Fayetteville's economy has been growing steadily in recent years, with new businesses and developments opening up in the area. The city has also been working to attract more high-tech and innovative companies to the area, in order to diversify the local economy.
The GDP of the Fayetteville MSA was around $23 billion in 2019, according to the Bureau of Economic Analysis. This represents a growth rate of around 2.6% from the previous year.

Fayetteville is served by Interstate 95, which runs north-south through the city. It is also home to Fayetteville Regional Airport, which offers commercial flights to several destinations. Public transportation in Fayetteville is provided by the Fayetteville Area System of Transit (FAST), which operates bus routes throughout the city and surrounding areas.
Fayetteville has been investing in infrastructure improvements in recent years, including road improvements and expansions, the construction of a new baseball stadium, and the development of new parks and recreation facilities.
Fayetteville has been working to attract new businesses and developments to the area in order to promote economic growth. The city has also been investing in downtown revitalization efforts, including the construction of a new parking deck and the renovation of several historic buildings.

Fayetteville's economy is driven by a diverse mix of industries, with the government, healthcare, and education sectors being the largest employers in the area. The top 10 employers in Fayetteville are:

  1. Fort Bragg - 55,000 employees
  2. Cumberland County Schools - 6,734 employees
  3. Cape Fear Valley Health System - 5,872 employees
  4. Wal-Mart - 2,000 employees
  5. Goodyear Tire & Rubber Co. - 1,800 employees
  6. Fayetteville State University - 1,600 employees
  7. Fayetteville VA Medical Center - 1,397 employees
  8. Harnett Health System - 1,135 employees
  9. Smithfield Foods - 1,100 employees
  10. Cumberland County - 1,065 employees

Fort Bragg is the largest employer in the Fayetteville metropolitan area, with a workforce of over 55,000 people. As the largest military installation in the world, it has a significant impact on the local economy. Cumberland County Schools is the second-largest employer in the area, with over 6,700 employees, followed closely by the Cape Fear Valley Health System, which employs over 5,800 people. In addition to these top employers, there are many small businesses and startups in Fayetteville that contribute to the local economy. The city has a growing entrepreneurial ecosystem, with a number of business incubators and accelerators that support new businesses and help them grow.

The median home value in Fayetteville is $133,300. The value has increased by 13.8% over the last ten years. Around 54.5% of the housing units in Fayetteville are owner-occupied. The remaining 45.5% are rented. Around 60% of the housing units in Fayetteville are single-family homes. Multi-family homes make up around 23%, and the remaining 17% are other types of housing. Fayetteville's real estate market is considered to be moderately competitive. There is a balanced inventory of homes for sale, and the market has been appreciating in value over the last decade. Market rents are also on the rise.

Fayetteville is home to several cultural attractions, including the Airborne & Special Operations Museum, the Cape Fear Botanical Garden, and the Fayetteville Area Transportation and Local History Museum.
The city is also a popular tourist destination, with attractions such as the Museum of the Cape Fear Historical Complex, the Fayetteville Downtown Historic District, and the North Carolina Veterans Park.

Fayetteville is home to Fort Bragg, one of the largest military installations in the world. The military has a significant economic impact on the city, with many businesses catering to the needs of the military community. Additionally, the city's population has a large military presence, with over 25% of the population being military-affiliated.

Overall, Fayetteville is a growing city with a diverse economy and a significant military presence. Its real estate market is moderately competitive, and the city has several cultural and tourist attractions. The city's government continues to invest in infrastructure development, and recent policy changes have affected zoning and taxes.

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