Multifamily housing is growing more and more competitive. Finding and securing a deal in the right market at the right time is not easy. That’s why smart investors are seeking out great properties in secondary and tertiary markets. In this episode, Bill shares the top 15 U.S. sub-markets experiencing the highest population growth.
I’ve always said, if you CAN invest in your local market, you should. It’s easier and better for a number of reasons
And there are other advantages.
So, when I share these lists with you, it’s for those of us who either are in a bad market to invest locally (like me – here in California) or who are looking for the best return on their investment in “emerging markets”
However, for some of us, our local area may not be good to invest
The lists I share are not definitive. They are only “snapshots” of areas that could have potential. Today’s list today zeroes in on areas where population is growing above the national average. They come right from the census numbers directly – and the numbers are current!
Population growth is important! Very important! But it is just an “overlay” of many factors you need to consider
You also must consider
But, without a growing population, it is not an emerging market
The difference today is that I am sharing not just the major cities and MSAs (Metropolitan Statistical Areas) but “sub markets” / secondary and tertiary markets–incorporated cities that may not be on everyone’s radar but are still experiencing significant growth.
The 15 Fastest-Growing Submarket Cities between July 1, 2015, and July 1, 2016 (Populations of 50,000 or more in 2015)
|Rank||City Name (Metro area title in parentheses)||State||% Increase||2016 Total Population|
|1||Conroe city (Houston-The Woodlands-Sugar Land)||Texas||7.8||82,286|
|4||Greenville city||South Carolina||5.8||67,453|
|6||Bend city (Bend—Redmond)||Oregon||4.9||91,122|
|7||Buckeye city (Phoenix-Mesa-Scottsdale)||Arizona||4.8||64,629|
|8||Bonita Springs city (Cape Coral-Fort Myers)||Florida||4.8||54,198|
|9||New Braunfels city (San Antonio-New Braunfels)||Texas||4.7||73,959|
|10||Murfreesboro city (Nashville-Davidson—Murfreesboro—Franklin)||Tennessee||4.7||131,947|
|11||Lehi city (Provo-Orem)||Utah||4.6||61,130|
|12||Cedar Park city (Austin-Round Rock)||Texas||4.5||68,918|
|13||Meridian city (Boise City)||Idaho||4.5||95,623|
|14||Ankeny city (Des Moines-West Des Moines)||Iowa||4.5||58,627|
|15||Fort Myers city (Cape Coral-Fort Myers)||Florida||4.5||77,146|
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