February 16, 2017
Sacramento, Las Vegas, Dallas, Atlanta and Phoenix are the top five markets in the United States that will be great places for multifamily investments, according to research from Ten-X. The Irvine, CA-headquartered real estate marketplace company indicated that the reason for these metros’ top listing is because of strong local economies consisting of new jobs, and “residents still eager to forgo home ownership for the opportunity to rent in a large metropolis.”
Meanwhile, San Francisco, New York City, San Jose, Miami, FL and Milwaukee are areas in which investors might want to sell their multifamily assets. As new supply keeps flooding into these metros, flattening rents and increasing vacancies are the norm, Ten-X said.
Overall, Ten-X indicated that with 250,000 units expected to come online in 2017, vacancies nationwide could end up as high as 5.6%. A modeled cyclical downturn beginning in 2019 could push vacancies to above 6%.
For comments, questions or concerns, please contact Amy Sorter