60 Up-and-Coming Actual Property Markets to Watch in 2023
42 min read
Which actual property markets current the most important development alternatives for rental traders and property managers in 2023—and the way do these places change from 12 months to 12 months? Our annual listing of up-and-coming actual property markets assesses 1000’s of information factors on the fastest-growing rental markets within the nation to inform you simply that. Let’s dig into our findings for 2023.
Up-and-Coming Actual Property Markets 2023: Our Total Findings
We have a look at 4 main classes of data for lots of of actual property markets: housing affordability and availability, financial and job market well being, demographic development, and total funding enchantment.
Our findings for 2023 echo final 12 months’s in a single main manner: Solar Belt cities supply important alternatives for renters, homebuyers, rental traders, and property managers. These fashionable secondary markets present a top quality of residing at a extra reasonably priced worth level than many residents can discover in major markets.
Solar Belt cities characterize two-thirds of our prime 30 up-and-coming actual property markets listing in 2023, with Florida and Texas alone representing one-third of the markets we chosen. Widespread Solar Belt markets corresponding to Austin, TX; Raleigh, NC; Charlotte, NC; Dallas, TX; Tampa, FL; and Nashville, TN all retained their positions within the prime 10; and we noticed main jumps in standing amongst Tallahassee, FL; Deltona Seashore, FL; and San Antonio, TX.
We additionally noticed two important departures from final 12 months’s listing start to take form. Cities corresponding to Phoenix, AZ; Riverside, CA; Denver, CO; Cape Coral, FL; and Las Vegas, NV—a few of the hottest (and doubtlessly overheated) picks of the previous few years—fell by double-digits, with lots of these cities dropping into Tier II for the primary time.
In distinction, cities which have remained comparatively reasonably priced rose up the ranks this 12 months, significantly within the Midwest and South Central U.S. These cities embrace Omaha and Lincoln, NE; Lexington and Louisville, KY; Des Moines, IA; Fayetteville, AR; Kansas Metropolis, MO; Huntsville, AL; and Sioux Falls, SD. As well as, Madison, WI and Knoxville, TN made it to the highest 20.
Total, our takeaway from our 2023 up-and-coming markets evaluation is that these modifications replicate the pure actual property cycle. Cities which have seen a swell in demand, funding, improvement, and, consequently, worth development in recent times are leveling off as much less buzzy cities which have remained extra reasonably priced are starting to draw extra consideration.
That presents alternatives for rental traders and property managers to seek out greater cap charges and regular hire development in new places than up to now—significantly inside the Midwest, South Central U.S., and small and mid-sized cities outdoors of main Solar Belt markets.
Right here’s what you’ll discover inside this submit:
Cheers to your development in 2023!
High Actual Property Markets in Every Class
Observe: These rankings apply solely to the markets on our listing.
Actual Property Markets with the Highest Cap Charges for Multifamily Properties in 2022
1. Des Moines, Iowa
2. Lincoln, Nebraska
3. Cincinnati, Ohio
4. Portland, Maine
5. Sioux Falls, SD (tie)
5. Oklahoma Metropolis, Oklahoma (tie)
Supply: National Association of Realtors – capitalization price for multifamily gross sales transactions executed in Q3-2022
Actual Property Markets The place Rents Have Risen the Most in 2022
1. Knoxville, Tennessee
2. Fayetteville, Arkansas
3. Miami, Florida
4. Tallahassee, Florida
5. Charleston, South Carolina
Supply: National Association of Realtors – development in asking rents for market-rate properties between Q3-2021 and Q3-2022
Actual Property Markets with the Lowest Rental Property Emptiness Charges in 2022
1. Windfall, Rhode Island
2. Manchester, New Hampshire
3. Madison, Wisconsin
4. Portland, Maine
5. Knoxville, Tennessee (tie)
5. Lincoln, Nebraska (tie)
Supply: National Association of Realtors – emptiness charges for multifamily properties in Q3-2022
Actual Property Markets with the Highest Inhabitants Progress in 2022
1. Boise, Idaho
2. Cape Coral, Florida
3. Austin, Texas
4. Deltona Seashore, Florida
5. Raleigh, North Carolina (tie)
5. Fayetteville, Arkansas (tie)
Supply: National Association of Realtors – annual inhabitants development between 2021-2022
Actual Property Markets with the Highest Renter Family Formation Charges in 2022
1. Tallahassee, Florida
2. Orlando, Florida
3. Madison, Wisconsin
4. Sioux Falls, South Dakota
5. Austin, Texas
Supply: National Association of Realtors – renter family formation price between 2021-2022
Tier 1: The High 30 Up-and-Coming Actual Property Markets in 2023
Choose your metropolis to leap straight to that part:
Atlanta, GA | Austin, TX | Boise, ID | Charleston, SC | Charlotte, NC
Columbus, OH | Dallas, TX | Des Moines, IA | Fayetteville, AR
Houston, TX | Indianapolis, IN | Jacksonville, FL | Knoxville, TN
Lincoln, NE | Madison, WI | Miami, FL | Nashville, TN | Omaha, NE
Orlando, FL | Phoenix, AZ | Portland, ME | Raleigh, NC | Richmond, VA
Salt Lake City, UT | San Antonio, TX | San Diego, CA
San Jose, CA | Seattle, WA | Tallahassee, FL | Tampa, FL
Jump ahead to our Tier II picks
#1: Austin, TX
Austin Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.9%
- Asking hire development (Q3-’22, YoY): 5.7%
- Multifamily cap price (Q3-’22): 4.3%
- Inhabitants development (2022, YoY): 2.3%
- Change in place between 2022 and 2023: +2
Supply: NAR Market Reports – Q3-2022
How the Austin Actual Property Market Stacks Up Towards Different Metros
- #1: Most in-demand actual property markets amongst traders for 2023
- #1: Markets with essentially the most employment development projected for the subsequent 5 years
- #1: Highest-rated native economies within the U.S.
- #1: Markets with excessive availability of debt & capital for traders in 2023
- #1: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #1: Markets with essentially the most family development projected for the subsequent 5 years
- #4: Markets with one of the best actual property prospects in 2023
- #4: Highest-rated job markets within the U.S. in 2022
- #6: Markets with essentially the most improvement alternative in 2023
- #6: Markets with a excessive degree of funding in neighborhood infrastructure
- #8: Quickest-growing markets within the U.S. in 2022
- #8: Markets the place renting is extra reasonably priced than proudly owning a house
- #9: Markets with the best financial development in 2022
- #10: Greatest cities to start out a enterprise in 2022
- Try the Methodology part for particulars on every of those rankings.
#2: Raleigh & Durham, NC
Raleigh Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.2%
- Asking hire development (Q3-’22, YoY): 6.7%
- Multifamily cap price (Q3-’22): 4.2%
- Inhabitants development (2022, YoY): 2.0%
- Change in place between 2022 and 2023: +2
Supply: NAR Market Reports – Q3-2022
How the Raleigh Actual Property Market Stacks Up Towards Different Metros
- #3: Markets with a excessive degree of funding in neighborhood infrastructure
- #4: Markets with essentially the most improvement alternative in 2023
- #4: Highest-rated native economies within the U.S.
- #5: Most in-demand actual property markets amongst traders for 2023
- #5: Markets with essentially the most family development projected for the subsequent 5 years
- #6: Markets with one of the best actual property prospects for traders in 2023
- #6: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #6: Highest-rated locations to stay within the U.S. in 2022
- #7: Markets with essentially the most employment development in 2022
- #7: Greatest cities to start out a enterprise in 2022
- #8: Most well-run cities within the U.S.
- #10: Markets with essentially the most employment development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
#3: Charlotte, NC
Charlotte Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.4%
- Asking hire development (Q3-’22, YoY): 8.8%
- Multifamily cap price (Q3-’22): 4.3%
- Inhabitants development (2022, YoY): 1.2%
- Change in place between 2022 and 2023: +21
Supply: NAR Market Reports – Q3-2022
How the Charlotte Actual Property Market Stacks Up Towards Different Metros
- #4: Markets with a excessive degree of funding in neighborhood infrastructure
- #6: Most in-demand actual property markets amongst traders for 2023
- #6: Highest-rated native economies within the U.S.
- #6: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #7: Markets with essentially the most employment development in 2022
- #8: Markets with essentially the most improvement alternative in 2023
- #8: Markets with essentially the most family development projected for the subsequent 5 years
- #8: Markets with excessive ranges of inmigration and low ranges of outmigration in 2022
- #10: Markets with one of the best actual property prospects in 2023
- #10: Markets with essentially the most employment development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
#4: Dallas, TX
Dallas Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.2%
- Asking hire development (Q3-’22, YoY): 7.6%
- Multifamily cap price (Q3-’22): 4.6%
- Inhabitants development (2022, YoY): 1.3%
- Change in place between 2022 and 2023: +5
Supply: NAR Market Reports – Q3-2022
How the Dallas Actual Property Market Stacks Up Towards Different Metros
- #1: Markets with essentially the most improvement alternative in 2023
- #2: Markets with one of the best actual property prospects in 2023
- #2: Markets with a excessive degree of funding in neighborhood infrastructure
- #2: Highest-rated native economies within the U.S.
- #3: Most in-demand actual property markets amongst traders for 2023
- #3: Markets with essentially the most employment development in 2022
- #6: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #8: Markets with essentially the most family development projected for the subsequent 5 years
- #15: Greatest cities to start out a enterprise in 2022
- #18: Markets with essentially the most employment development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
#5: Jacksonville, FL
Jacksonville Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 8.2%
- Asking hire development (Q3-’22, YoY): 4.6%
- Multifamily cap price (Q3-’22): 4.6%
- Inhabitants development (2022, YoY): 1.6%
- Change in place between 2022 and 2023: +2
Supply: NAR Market Reports – Q3-2022
How the Jacksonville Actual Property Market Stacks Up Towards Different Metros
- #5: Markets with essentially the most employment development projected for the subsequent 5 years
- #6: Greatest cities to start out a enterprise in 2022
- #13: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #15: Markets with essentially the most family development projected for the subsequent 5 years
- #19: Markets with the best financial development in 2022
- #19: Markets with essentially the most employment development in 2022
- #20: Highest-rated native economies within the U.S.
- #20: Markets with essentially the most inhabitants development in 2022
- Try the Methodology part for particulars on every of those rankings.
#6: Tampa, FL
Tampa Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 6.9%
- Asking hire development (Q3-’22, YoY): 6.3%
- Multifamily cap price (Q3-’22): 4.5%
- Inhabitants development (2022, YoY): 1.1%
- Change in place between 2022 and 2023: -1
Supply: NAR Market Reports – Q3-2022
How the Tampa Actual Property Market Stacks Up Towards Different Metros
- #2: Markets with essentially the most improvement alternative in 2023
- #4: Most in-demand actual property markets amongst traders for 2023
- #5: Markets with one of the best actual property prospects in 2023
- #5: Highest-rated native economies within the U.S.
- #5: Markets with a excessive degree of funding in neighborhood infrastructure
- #9: Greatest cities to start out a enterprise in 2022
- #11: Quickest-growing markets within the U.S. in 2022
- Try the Methodology part for particulars on every of those rankings.
#7: Madison, WI
Madison Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 2.7%
- Asking hire development (Q3-’22, YoY): 6.1%
- Multifamily cap price (Q3-’22): 5.4%
- Inhabitants development (2022, YoY): 0.2%
- Change in place between 2022 and 2023: +36
Supply: NAR Market Reports – Q3-2022
How the Madison Actual Property Market Stacks Up Towards Different Metros
- #9: Markets the place multifamily models make up a excessive proportion of latest development
- #14: Most well-run cities within the U.S.
- #14: Greatest cities to start out a enterprise in 2022
- #15: Highest-rated job markets within the U.S. in 2022
- #17: Highest-rated locations to stay within the U.S. in 2022
- #18: Markets with essentially the most employment development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
#8: Nashville, TN
Nashville Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.8%
- Asking hire development (Q3-’22, YoY): 7.1%
- Multifamily cap price (Q3-’22): 4.5%
- Inhabitants development (2022, YoY): 0.9%
- Change in place between 2022 and 2023: +5
Supply: NAR Market Reports – Q3-2022
How the Nashville Actual Property Market Stacks Up Towards Different Metros
- #1: Markets with one of the best actual property prospects in 2023
- #1: Markets with a excessive degree of funding in neighborhood infrastructure
- #2: Most in-demand actual property markets amongst traders for 2023
- #2: Markets with essentially the most improvement alternative in 2023
- #3: Highest-rated native economies within the U.S.
- #6: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #6: Markets with essentially the most employment development in 2022
- #8: Markets with essentially the most family development projected for the subsequent 5 years
- #12: Greatest cities to start out a enterprise in 2022
- #15: Markets with essentially the most employment development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
#9: Salt Lake Metropolis, UT
Salt Lake Metropolis Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.9%
- Asking hire development (Q3-’22, YoY): 8.7%
- Multifamily cap price (Q3-’22): 4.2%
- Inhabitants development (2022, YoY): 0.3%
- Change in place between 2022 and 2023: -7
Supply: NAR Market Reports – Q3-2022
How the Salt Lake Metropolis Actual Property Market Stacks Up Towards Different Metros
- #1: Highest-rated job markets within the U.S. in 2022
- #6: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #6: Markets with essentially the most employment development projected for the subsequent 5 years
- #6: Markets the place renting is extra reasonably priced than proudly owning a house
- #7: Markets with a excessive degree of funding in neighborhood infrastructure
- #8: Markets with essentially the most family development projected for the subsequent 5 years
- #8: Markets with the bottom unemployment charges in 2022
- #17: Markets with essentially the most improvement alternative in 2023
- #18: Most in-demand actual property markets amongst traders for 2023
- #19: Markets with one of the best actual property prospects in 2023
- Try the Methodology part for particulars on every of those rankings.
#10: Boise, ID
Boise Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.5%
- Asking hire development (Q3-’22, YoY): 5.1%
- Multifamily cap price (Q3-’22): 4.0%
- Inhabitants development (2022, YoY): 3.3%
- Change in place between 2022 and 2023: -9
Supply: NAR Market Reports – Q3-2022
How the Boise Actual Property Market Stacks Up Towards Different Metros
- #1: Most well-run cities within the U.S.
- #2: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #2: Markets with a robust provide of reasonably priced and out there leases
- #3: Markets with essentially the most inhabitants development in 2022
- #3: Markets with essentially the most employment development projected for the subsequent 5 years
- #3: Markets with essentially the most family development projected for the subsequent 5 years
- #3: Markets the place renting is extra reasonably priced than proudly owning a house
- #4: Greatest cities to start out a enterprise in 2022
- #10: Highest-rated job markets within the U.S. in 2022
- #10: Markets with an reasonably priced price of doing enterprise
- Try the Methodology part for particulars on every of those rankings.
#11: Orlando, FL
Orlando Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 6.2%
- Asking hire development (Q3-’22, YoY): 9.4%
- Multifamily cap price (Q3-’22): 4.2%
- Inhabitants development (2022, YoY): 0.5%
- Change in place between 2022 and 2023: +10
Supply: NAR Market Reports – Q3-2022
How the Orlando Actual Property Market Stacks Up Towards Different Metros
- #1: Greatest cities to start out a enterprise in 2022
- #2: Markets with essentially the most employment development projected for the subsequent 5 years
- #4: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #5: Highest-rated job markets within the U.S. in 2022
- #6: Markets with essentially the most family development projected for the subsequent 5 years
- #7: Quickest-growing markets within the U.S. in 2022
- #9: Most in-demand actual property markets amongst traders for 2023
- #10: Markets with essentially the most improvement alternative in 2023
- #10: Markets with a excessive degree of funding in neighborhood infrastructure
- #13: Markets with one of the best actual property prospects in 2023
- Try the Methodology part for particulars on every of those rankings.
#12: San Antonio, TX
San Antonio Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.7%
- Asking hire development (Q3-’22, YoY): 5.3%
- Multifamily cap price (Q3-’22): 5.0%
- Inhabitants development (2022, YoY): 1.4%
- Change in place between 2022 and 2023: +14
Supply: NAR Market Reports – Q3-2022
How the San Antonio Actual Property Market Stacks Up Towards Different Metros
- #6: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #7: Markets with essentially the most improvement alternative in 2023
- #8: Markets with essentially the most family development projected for the subsequent 5 years
- #10: Markets with essentially the most employment development projected for the subsequent 5 years
- #12: Markets with one of the best actual property prospects in 2023
- #12: Markets with a excessive degree of funding in neighborhood infrastructure
- #15: Highest-rated native economies within the U.S.
- Try the Methodology part for particulars on every of those rankings.
#13: Charleston, SC
Charleston Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.4%
- Asking hire development (Q3-’22, YoY): 10.1%
- Multifamily cap price (Q3-’22): 4.3%
- Inhabitants development (2022, YoY): 1.3%
- Change in place between 2022 and 2023: +5
Supply: NAR Market Reports – Q3-2022
How the Charleston Actual Property Market Stacks Up Towards Different Metros
- #4: Markets with essentially the most employment development in 2022
- #6: Markets with essentially the most family development projected for the subsequent 5 years
- #7: Highest-rated native economies within the U.S.
- #11: Highest-rated job markets within the U.S. in 2022
- #12: Markets the place rents elevated essentially the most in 2022
- #12: Most well-run cities within the U.S.
- #12: Markets with a excessive degree of funding in neighborhood infrastructure
- #13: Most in-demand actual property markets amongst traders for 2023
- #14: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #15: Markets with essentially the most employment development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
#14: Knoxville, Tennessee
Knoxville Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 3.0%
- Asking hire development (Q3-’22, YoY): 11.8%
- Multifamily cap price (Q3-’22): 5.4%
- Inhabitants development (2022, YoY): 1.3%
- Change in place between 2022 and 2023: -4
Supply: NAR Market Reports – Q3-2022
How the Knoxville Actual Property Market Stacks Up Towards Different Metros
- #3: Markets the place rents elevated essentially the most in 2022
- #3: Markets with an reasonably priced price of doing enterprise
- #5: Markets with a robust provide of reasonably priced and out there leases
- #14: Markets with essentially the most employment development in 2022
- #18: Markets with a excessive degree of funding in neighborhood infrastructure
- Try the Methodology part for particulars on every of those rankings.
#15: Des Moines, IA
Des Moines Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 5.5%
- Asking hire development (Q3-’22, YoY): 4.7%
- Multifamily cap price (Q3-’22): 6.7%
- Inhabitants development (2022, YoY): 1.2%
- Change in place between 2022 and 2023: +29
Supply: NAR Market Reports – Q3-2022
How the Des Moines Actual Property Market Stacks Up Towards Different Metros
- #5: Markets with the best financial development in 2022
- #7: Markets with essentially the most family development projected for the subsequent 5 years
- #12: Highest-rated job markets within the U.S. in 2022
- #14: Highest-rated locations to stay within the U.S. in 2022
- #17: Markets with an reasonably priced price of doing enterprise
- #18: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #18: Markets with essentially the most employment development projected for the subsequent 5 years
- #18: Markets with the bottom unemployment charges in 2022
- Try the Methodology part for particulars on every of those rankings.
#16: Miami, FL
Miami Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 4.3%
- Asking hire development (Q3-’22, YoY): 10.7%
- Multifamily cap price (Q3-’22): 4.4%
- Inhabitants development (2022, YoY): -0.6%
- Change in place between 2022 and 2023: +7
Supply: NAR Market Reports – Q3-2022
How the Miami Actual Property Market Stacks Up Towards Different Metros
- #2: Greatest cities to start out a enterprise in 2022
- #5: Markets with essentially the most improvement alternative in 2023
- #5: Quickest-growing markets within the U.S. in 2022
- #6: Markets the place rents elevated essentially the most in 2022
- #7: Markets with one of the best actual property prospects for traders in 2023
- #8: Most in-demand actual property markets amongst traders for 2023
- #10: Highest-rated native economies within the U.S.
- #10: Markets with essentially the most employment development in 2022
- #10: Markets with a excessive degree of funding in neighborhood infrastructure
- #11: Markets the place multifamily models make up a excessive proportion of latest development
- Try the Methodology part for particulars on every of those rankings.
#17: Omaha, NE
Omaha Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 5.1%
- Asking hire development (Q3-’22, YoY): 7.2%
- Multifamily cap price (Q3-’22): 6.0%
- Inhabitants development (2022, YoY): 0.3%
- Change in place between 2022 and 2023: +25
Supply: NAR Market Reports – Q3-2022
How the Omaha Actual Property Market Stacks Up Towards Different Metros
- #14: Markets with the bottom unemployment charges in 2022
- #23: Markets with an reasonably priced price of doing enterprise
- #23: Greatest cities to start out a enterprise in 2022
- #25: Markets with a robust provide of reasonably priced and out there leases
- #29: Highest-rated locations to stay within the U.S. in 2022
- Try the Methodology part for particulars on every of those rankings.
#18: Atlanta, GA
Atlanta Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.6%
- Asking hire development (Q3-’22, YoY): 3.7%
- Multifamily cap price (Q3-’22): 4.5%
- Inhabitants development (2022, YoY): 0.7%
- Change in place between 2022 and 2023: -7
Supply: NAR Market Reports – Q3-2022
How the Atlanta Actual Property Market Stacks Up Towards Different Metros
- #3: Markets with one of the best actual property prospects for traders in 2023
- #4: Quickest-growing markets within the U.S. in 2022
- #10: Markets with essentially the most improvement alternative in 2023
- #10: Markets with essentially the most employment development in 2022
- #11: Most in-demand actual property markets amongst traders for 2023
- #12: Highest-rated native economies within the U.S.
- #14: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #16: Greatest cities to start out a enterprise in 2022
- #17: Highest-rated job markets within the U.S. in 2022
- #17: Markets with a excessive degree of funding in neighborhood infrastructure
- Try the Methodology part for particulars on every of those rankings.
#19: Tallahassee, FL
Tallahassee Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 6.1%
- Asking hire development (Q3-’22, YoY): 10.1%
- Multifamily cap price (Q3-’22): 5.4%
- Inhabitants development (2022, YoY): 0.3%
- Change in place between 2022 and 2023: +37
Supply: NAR Market Reports – Q3-2022
How the Tallahassee Actual Property Market Stacks Up Towards Different Metros
- #5: Markets with a robust provide of reasonably priced and out there leases
- #9: Markets with excessive ranges of inmigration and low ranges of outmigration in 2022
- #12: Markets the place rents elevated essentially the most in 2022
- #15: Markets with a excessive proportion of residents who hire their houses
- #18: Markets with an reasonably priced price of doing enterprise
- Try the Methodology part for particulars on every of those rankings.
#20: San Jose, CA
San Jose Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 4.9%
- Asking hire development (Q3-’22, YoY): 7.2%
- Multifamily cap price (Q3-’22): 3.4%
- Inhabitants development (2022, YoY): -2.2%
- Change in place between 2022 and 2023: +48
Supply: NAR Market Reports – Q3-2022
How the San Jose Actual Property Market Stacks Up Towards Different Metros
- #1: Markets the place renting is extra reasonably priced than proudly owning a house
- #1: Markets with the best financial development in 2022
- #5: Highest-rated locations to stay within the U.S. in 2022
- #7: Highest-rated job markets within the U.S. in 2022
- #13: Markets with a excessive proportion of residents who hire their houses
- #14: Markets with the bottom unemployment charges in 2022
- #18: Markets with essentially the most employment development in 2022
- #19: Markets the place multifamily models make up a excessive proportion of latest development
- Try the Methodology part for particulars on every of those rankings.
#21: Seattle, WA
Seattle Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 5.6%
- Asking hire development (Q3-’22, YoY): 5.0%
- Multifamily cap price (Q3-’22): 3.9%
- Inhabitants development (2022, YoY): -0.3%
- Change in place between 2022 and 2023: +8
Supply: NAR Market Reports – Q3-2022
How the Seattle Actual Property Market Stacks Up Towards Different Metros
- #3: Quickest-growing markets within the U.S. in 2022
- #6: Highest-rated job markets within the U.S. in 2022
- #10: Markets the place renting is extra reasonably priced than proudly owning a house
- #15: Markets the place multifamily models make up a excessive proportion of latest development
- #17: Markets with one of the best actual property prospects for traders in 2023
- #19: Markets with the best financial development in 2022
- #20: Most in-demand actual property markets amongst traders for 2023
- Try the Methodology part for particulars on every of those rankings.
#22: San Diego, CA
San Diego Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 3.2%
- Asking hire development (Q3-’22, YoY): 8.1%
- Multifamily cap price (Q3-’22): 3.8%
- Inhabitants development (2022, YoY): -0.3%
- Change in place between 2022 and 2023: -3
Supply: NAR Market Reports – Q3-2022
How the San Diego Actual Property Market Stacks Up Towards Different Metros
- #4: Markets the place renting is extra reasonably priced than proudly owning a house
- #9: Markets with a excessive proportion of residents who hire their houses
- #11: Markets with one of the best actual property prospects for traders in 2023
- #16: Most in-demand actual property markets amongst traders for 2023
- #19: Highest-rated native economies within the U.S.
- #20: Markets the place multifamily models make up a excessive proportion of latest development
- Try the Methodology part for particulars on every of those rankings.
#23: Portland, ME
Portland, ME Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 2.8%
- Asking hire development (Q3-’22, YoY): 7.1%
- Multifamily cap price (Q3-’22): 6.3%
- Inhabitants development (2022, YoY): 0.9%
- Change in place between 2022 and 2023: +15
Supply: NAR Market Reports – Q3-2022
How the Portland, ME Actual Property Market Stacks Up Towards Different Metros
- #2: Markets with excessive ranges of inmigration and low ranges of outmigration in 2022
- #3: Highest-rated job markets within the U.S. in 2022
- #8: Highest-rated locations to stay within the U.S. in 2022
- #9: Markets with excessive ranges of incoming companies and low ranges of outgoing companies in 2022
- #24: Markets with the bottom emptiness charges in 2022
- #25: Most well-run cities within the U.S.
- Try the Methodology part for particulars on every of those rankings.
#24: Phoenix, AZ
Phoenix Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 8.3%
- Asking hire development (Q3-’22, YoY): 2.8%
- Multifamily cap price (Q3-’22): 3.9%
- Inhabitants development (2022, YoY): 1.6%
- Change in place between 2022 and 2023: -20
Supply: NAR Market Reports – Q3-2022
How the Phoenix Actual Property Market Stacks Up Towards Different Metros
- #4: Markets with essentially the most family development projected for the subsequent 5 years
- #5: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #6: Markets with essentially the most employment development projected for the subsequent 5 years
- #9: Markets with one of the best actual property prospects in 2023
- #17: Highest-rated native economies within the U.S.
- #17: Quickest-growing markets within the U.S. in 2022
- #18: Markets the place renting is extra reasonably priced than proudly owning a house
- #19: Most in-demand actual property markets amongst traders for 2023
- #19: Most well-run cities within the U.S.
- #20: Markets with essentially the most inhabitants development in 2022
- Try the Methodology part for particulars on every of those rankings.
#25: Fayetteville, AR
Fayetteville Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 3.9%
- Asking hire development (Q3-’22, YoY): 11.0%
- Multifamily cap price (Q3-’22): 5.4%
- Inhabitants development (2022, YoY): 2.0%
- Change in place between 2022 and 2023: +42
Supply: NAR Market Reports – Q3-2022
How the Fayetteville Actual Property Market Stacks Up Towards Different Metros
- #5: Markets the place rents elevated essentially the most in 2022
- #7: Markets with the best financial development in 2022
- #7: Highest-rated locations to stay within the U.S. in 2022
- #19: Quickest-growing markets within the U.S. in 2022
- #22: Markets with essentially the most employment development in 2022
- Try the Methodology part for particulars on every of those rankings.
#26: Columbus, OH
Columbus Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 5.6%
- Asking hire development (Q3-’22, YoY): 6.8%
- Multifamily cap price (Q3-’22): 5.8%
- Inhabitants development (2022, YoY): 0.5%
- Change in place between 2022 and 2023: +10
Supply: NAR Market Reports – Q3-2022
How the Columbus Actual Property Market Stacks Up Towards Different Metros
- #11: Markets with an reasonably priced price of doing enterprise
- #12: Highest-rated native economies within the U.S.
- #17: Markets with a robust provide of reasonably priced and out there leases
- #20: Greatest cities to start out a enterprise in 2022
- #21: Most in-demand actual property markets amongst traders for 2023
- Try the Methodology part for particulars on every of those rankings.
#27: Richmond, VA
Richmond Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 6.5%
- Asking hire development (Q3-’22, YoY): 6.7%
- Multifamily cap price (Q3-’22): 5.1%
- Inhabitants development (2022, YoY): 0.6%
- Change in place between 2022 and 2023: +6
Supply: NAR Market Reports – Q3-2022
How the Richmond Actual Property Market Stacks Up Towards Different Metros
- #15: Markets with an reasonably priced price of doing enterprise
- #28: Markets the place multifamily models make up a excessive proportion of latest development
- #29: Markets with essentially the most improvement alternative in 2023
- #29: Markets with essentially the most employment development projected for the subsequent 5 years
- #29: Markets with a robust provide of reasonably priced and out there leases
- Try the Methodology part for particulars on every of those rankings.
#28: Indianapolis, IN
Indianapolis Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 6.1%
- Asking hire development (Q3-’22, YoY): 9.1%
- Multifamily cap price (Q3-’22): 5.6%
- Inhabitants development (2022, YoY): 0.6%
- Change in place between 2022 and 2023: 0
Supply: NAR Market Reports – Q3-2022
How the Indianapolis Actual Property Market Stacks Up Towards Different Metros
- #12: Markets with the bottom unemployment charges in 2022
- #13: Markets with an reasonably priced price of doing enterprise
- #15: Markets with a robust provide of reasonably priced and out there leases
- #18: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #19: Markets with essentially the most family development projected for the subsequent 5 years
- #19: Markets the place rents elevated essentially the most in 2022
- Try the Methodology part for particulars on every of those rankings.
#29: Lincoln, NE
Lincoln Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 3.0%
- Asking hire development (Q3-’22, YoY): 7.0%
- Multifamily cap price (Q3-’22): 6.6%
- Inhabitants development (2022, YoY): 0.5%
- Change in place between 2022 and 2023: +44
Supply: NAR Market Reports – Q3-2022
How the Lincoln Actual Property Market Stacks Up Towards Different Metros
- #1: Markets with excessive ranges of inmigration and low ranges of outmigration in 2022
- #4: Most well-run cities within the U.S.
- #8: Markets with the bottom unemployment charges in 2022
- #19: Greatest cities to start out a enterprise in 2022
- #26: Markets with the best financial development in 2022
- #27: Markets with the bottom emptiness charges in 2022
- #28: Highest-rated locations to stay within the U.S. in 2022
- Try the Methodology part for particulars on every of those rankings.
#30: Houston, TX
Houston Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 8.4%
- Asking hire development (Q3-’22, YoY): 4.4%
- Multifamily cap price (Q3-’22): 5.2%
- Inhabitants development (2022, YoY): 1.0%
- Change in place between 2022 and 2023: -5
Supply: NAR Market Reports – Q3-2022
How the Houston Actual Property Market Stacks Up Towards Different Metros
- #5: Markets with essentially the most employment development in 2022
- #6: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #8: Markets with essentially the most family development projected for the subsequent 5 years
- #12: Markets with excessive ranges of inmigration and low ranges of outmigration in 2022
- #14: Markets with one of the best actual property prospects in 2023
- #16: Markets with essentially the most improvement alternative in 2023
- #18: Markets with essentially the most employment development projected for the subsequent 5 years
- #20: Markets with a excessive degree of funding in neighborhood infrastructure
- Try the Methodology part for particulars on every of those rankings.
—
Tier II: 30 Extra Up-and-Coming Actual Property Markets to Watch in 2023
Choose your metropolis to leap straight to that part:
Cape Coral, FL | Chattanooga, TN | Cincinnati, OH | Colorado Springs, CO
Deltona Beach, FL | Denver, CO | Fort Collins, CO | Gainesville, FL
Grand Rapids, MI | Greenville, SC | Huntsville, AL | Jersey City, NJ
Kansas City, MO | Las Vegas, NV | Lexington, KY | Louisville, KY
Manchester, NH | Minneapolis, MN | Oakland, CA | Oklahoma City, OK
Portland, OR | Providence, RI | Reno, NV | Riverside, CA
Sacramento, CA | Sioux Falls, SD | Spokane, WA | Tacoma, WA
Tucson, AZ | Virginia Beach, VA
#31: Denver, CO
Denver Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 6.6%
- Asking hire development (Q3-’22, YoY): 5.1%
- Multifamily cap price (Q3-’22): 4.2%
- Inhabitants development (2022, YoY): 0.1%
- Change in place between 2022 and 2023: -17
Supply: NAR Market Reports – Q3-2022
How the Denver Actual Property Market Stacks Up Towards Different Metros
- #5: Greatest cities to start out a enterprise in 2022
- #6: Quickest-growing markets within the U.S. in 2022
- #14: Most in-demand actual property markets amongst traders for 2023
- #14: Markets the place renting is extra reasonably priced than proudly owning a house
- #14: Markets with a excessive degree of funding in neighborhood infrastructure
- #15: Highest-rated native economies within the U.S.
- #16: Markets with one of the best actual property prospects in 2023
- #17: Markets with essentially the most family development projected for the subsequent 5 years
- #18: Markets with essentially the most improvement alternative in 2023
- #18: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
#32: Riverside, CA
Riverside Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 4.0%
- Asking hire development (Q3-’22, YoY): 5.4%
- Multifamily cap price (Q3-’22): 4.2%
- Inhabitants development (2022, YoY): 1.0%
- Change in place between 2022 and 2023: -24
Supply: NAR Market Reports – Q3-2022
How the Riverside Actual Property Market Stacks Up Towards Different Metros
- #3: Markets with essentially the most employment development projected for the subsequent 5 years
- #9: Markets with essentially the most employment development in 2022
- #14: Markets the place renting is extra reasonably priced than proudly owning a house
- #19: Markets with essentially the most family development projected for the subsequent 5 years
- #23: Most in-demand actual property markets amongst traders for 2023
- #23: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #26: Markets with one of the best actual property prospects in 2023
- #26: Markets with excessive availability of debt & capital for traders in 2023
- Try the Methodology part for particulars on every of those rankings.
#33: Kansas Metropolis, MO
Kansas Metropolis Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 5.7%
- Asking hire development (Q3-’22, YoY): 7.3%
- Multifamily cap price (Q3-’22): 5.4%
- Inhabitants development (2022, YoY): 0.3%
- Change in place between 2022 and 2023: +15
Supply: NAR Market Reports – Q3-2022
How the Kansas Metropolis Actual Property Market Stacks Up Towards Different Metros
- #14: Markets with essentially the most improvement alternative in 2023
- #14: Markets with the bottom unemployment charges in 2022
- #15: Markets with a excessive degree of funding in neighborhood infrastructure
- #20: Markets with an reasonably priced price of doing enterprise
- #22: Markets with excessive availability of debt & capital for traders in 2023
- #25: Markets with a robust provide of reasonably priced and out there leases
- #29: Markets with essentially the most employment development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
#34: Huntsville, AL
Huntsville Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 11.1%
- Asking hire development (Q3-’22, YoY): 4.7%
- Multifamily cap price (Q3-’22): 4.6%
- Inhabitants development (2022, YoY): 1.8%
- Change in place between 2022 and 2023: +23
Supply: NAR Market Reports – Q3-2022
How the Huntsville Actual Property Market Stacks Up Towards Different Metros
- #1: Highest-rated locations to stay within the U.S. in 2022
- #8: Markets with excessive ranges of incoming companies and low ranges of outgoing companies in 2022
- #12: Markets with the bottom unemployment charges in 2022
- #13: Highest-rated job markets within the U.S. in 2022
- Try the Methodology part for particulars on every of those rankings.
#35: Virginia Seashore, VA
Virginia Seashore Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 5.7%
- Asking hire development (Q3-’22, YoY): 6.1%
- Multifamily cap price (Q3-’22): 5.2%
- Inhabitants development (2022, YoY): 0.2%
- Change in place between 2022 and 2023: +11
Supply: NAR Market Reports – Q3-2022
How the Virginia Seashore Actual Property Market Stacks Up Towards Different Metros
- #7: Most well-run cities within the U.S.
- #14: Markets with excessive ranges of inmigration and low ranges of outmigration in 2022
- #19: Markets with an reasonably priced price of doing enterprise
- #24: Highest-rated job markets within the U.S. in 2022
- Try the Methodology part for particulars on every of those rankings.
#36: Deltona Seashore, FL
Deltona Seashore Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.1%
- Asking hire development (Q3-’22, YoY): 8.9%
- Multifamily cap price (Q3-’22): 5.0%
- Inhabitants development (2022, YoY): 2.2%
- Change in place between 2022 and 2023: +14
Supply: NAR Market Reports – Q3-2022
How the Deltona Seashore Actual Property Market Stacks Up Towards Different Metros
- #8: Markets with essentially the most family development projected for the subsequent 5 years
- #13: Markets with essentially the most inhabitants development in 2022
- #14: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #18: Quickest-growing markets within the U.S. in 2022
- #22: Markets the place rents elevated essentially the most in 2022
- #24: Markets with excessive ranges of incoming companies and low ranges of outgoing companies in 2022
- #26: Markets with the best financial development in 2022
- Try the Methodology part for particulars on every of those rankings.
#37: Portland, OR
Portland, OR Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 4.6%
- Asking hire development (Q3-’22, YoY): 5.6%
- Multifamily cap price (Q3-’22): 4.3%
- Inhabitants development (2022, YoY): -0.2%
- Change in place between 2022 and 2023: -7
Supply: NAR Market Reports – Q3-2022
How the Portland, OR Actual Property Market Stacks Up Towards Different Metros
- #13: Markets the place renting is extra reasonably priced than proudly owning a house
- #16: Markets with essentially the most employment development in 2022
- #22: Highest-rated locations to stay within the U.S. in 2022
- #26: Quickest-growing markets within the U.S. in 2022
- #27: Markets with essentially the most family development projected for the subsequent 5 years
- #28: Highest-rated job markets within the U.S. in 2022
- #29: Greatest cities to start out a enterprise in 2022
- Try the Methodology part for particulars on every of those rankings.
#38: Cape Coral, FL
Cape Coral Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.9%
- Asking hire development (Q3-’22, YoY): 8.3%
- Multifamily cap price (Q3-’22): 4.5%
- Inhabitants development (2022, YoY): 3.0%
- Change in place between 2022 and 2023: -16
Supply: NAR Market Reports – Q3-2022
How the Cape Coral Actual Property Market Stacks Up Towards Different Metros
- #1: Quickest-growing markets within the U.S. in 2022
- #2: Markets with essentially the most family development projected for the subsequent 5 years
- #3: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #5: Markets with essentially the most inhabitants development in 2022
- #6: Markets with essentially the most employment development projected for the subsequent 5 years
- #19: Markets with essentially the most improvement alternative in 2023
- Try the Methodology part for particulars on every of those rankings.
#39: Lexington, KY
Lexington Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 5.7%
- Asking hire development (Q3-’22, YoY): 7.6%
- Multifamily cap price (Q3-’22): 5.8%
- Inhabitants development (2022, YoY): 0.2%
- Change in place between 2022 and 2023: +44
Supply: NAR Market Reports – Q3-2022
How the Lexington Actual Property Market Stacks Up Towards Different Metros
- #3: Most well-run cities within the U.S.
- #21: Markets with a excessive proportion of residents who hire their houses
- #22: Markets with excessive ranges of inmigration and low ranges of outmigration in 2022
- #25: Markets with excessive ranges of incoming companies and low ranges of outgoing companies in 2022
- Try the Methodology part for particulars on every of those rankings.
#40: Sioux Falls, SD
Sioux Falls Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 5.4%
- Asking hire development (Q3-’22, YoY): 7.3%
- Multifamily cap price (Q3-’22): 6.3%
- Inhabitants development (2022, YoY): 1.6%
- Change in place between 2022 and 2023: +98
Supply: NAR Market Reports – Q3-2022
How the Sioux Falls Actual Property Market Stacks Up Towards Different Metros
- #4: Markets with the bottom unemployment charges in 2022
- #9: Most well-run cities within the U.S.
- #20: Markets with essentially the most inhabitants development in 2022
- #23: Markets with essentially the most employment development in 2022
- Try the Methodology part for particulars on every of those rankings.
#41: Fort Collins, CO
Fort Collins Rental Market Statistics
- Change in place between 2022 and 2023: +25
- Observe: Fort Collins rental market statistics weren’t out there from NAR for 2022
How the Fort Collins Actual Property Market Stacks Up Towards Different Metros
- #10: Quickest-growing markets within the U.S. in 2022
- #27: Highest-rated job markets within the U.S. in 2022
- Try the Methodology part for particulars on every of those rankings.
#42: Louisville, KY
Louisville Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 6.1%
- Asking hire development (Q3-’22, YoY): 6.8%
- Multifamily cap price (Q3-’22): 5.6%
- Inhabitants development (2022, YoY): 0%
- Change in place between 2022 and 2023: +16
Supply: NAR Market Reports – Q3-2022
How the Louisville Actual Property Market Stacks Up Towards Different Metros
- #2: Markets with a robust provide of reasonably priced and out there leases
- #5: Markets with an reasonably priced price of doing enterprise
- #17: Most well-run cities within the U.S.
- #25: Greatest cities to start out a enterprise in 2022
- Try the Methodology part for particulars on every of those rankings.
#43: Las Vegas, NV
Las Vegas Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.7%
- Asking hire development (Q3-’22, YoY): 2.9%
- Multifamily cap price (Q3-’22): 4.2%
- Inhabitants development (2022, YoY): 0.8%
- Change in place between 2022 and 2023: -27
Supply: NAR Market Reports – Q3-2022
How the Las Vegas Actual Property Market Stacks Up Towards Different Metros
- #6: Markets with essentially the most employment development projected for the subsequent 5 years
- #10: Markets with a excessive proportion of residents who hire their houses
- #14: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #15: Markets with essentially the most family development projected for the subsequent 5 years
- #17: Markets the place renting is extra reasonably priced than proudly owning a house
- #19: Markets with essentially the most employment development in 2022
- Try the Methodology part for particulars on every of those rankings.
#44: Windfall, RI
Windfall Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 2.1%
- Asking hire development (Q3-’22, YoY): 6.3%
- Multifamily cap price (Q3-’22): 6.0%
- Inhabitants development (2022, YoY): 0%
- Change in place between 2022 and 2023: +5
Supply: NAR Market Reports – Q3-2022
How the Windfall Actual Property Market Stacks Up Towards Different Metros
- #1: Markets with the bottom unemployment charges in 2022
- #5: Markets with the bottom emptiness charges in 2022
- #16: Markets the place renting is extra reasonably priced than proudly owning a house
- Try the Methodology part for particulars on every of those rankings.
#45: Oklahoma Metropolis, OK
Oklahoma Metropolis Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 8.4%
- Asking hire development (Q3-’22, YoY): 5.1%
- Multifamily cap price (Q3-’22): 6.3%
- Inhabitants development (2022, YoY): 0.9%
- Change in place between 2022 and 2023: -5
Supply: NAR Market Reports – Q3-2022
How the Oklahoma Metropolis Actual Property Market Stacks Up Towards Different Metros
- #1: Markets with a robust provide of reasonably priced and out there leases
- #5: Most well-run cities within the U.S.
- #7: Markets with an reasonably priced price of doing enterprise
- #18: Greatest cities to start out a enterprise in 2022
- #26: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #27: Markets with essentially the most family development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
#46: Chattanooga, TN
Chattanooga, TN Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 6.6%
- Asking hire development (Q3-’22, YoY): 7.4%
- Multifamily cap price (Q3-’22): 5.1%
- Inhabitants development (2022, YoY): 0.7%
- Change in place between 2022 and 2023: -12
Supply: NAR Market Reports – Q3-2022
How the Chattanooga Actual Property Market Stacks Up Towards Different Metros
- #1: Markets with an reasonably priced price of doing enterprise
- #5: Markets with a robust provide of reasonably priced and out there leases
- #29: Markets the place renting is extra reasonably priced than proudly owning a house
- Try the Methodology part for particulars on every of those rankings.
#47: Cincinnati, OH
Cincinnati Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 4.7%
- Asking hire development (Q3-’22, YoY): 8.6%
- Multifamily cap price (Q3-’22): 6.5%
- Inhabitants development (2022, YoY): 0.1%
- Change in place between 2022 and 2023: -12
Supply: NAR Market Reports – Q3-2022
How the Cincinnati Actual Property Market Stacks Up Towards Different Metros
- #9: Markets with an reasonably priced price of doing enterprise
- #13: Markets with a robust provide of reasonably priced and out there leases
- #27: Markets the place rents elevated essentially the most in 2022
- Try the Methodology part for particulars on every of those rankings.
#48: Minneapolis, MN
Minneapolis Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 6.4%
- Asking hire development (Q3-’22, YoY): 2.6%
- Multifamily cap price (Q3-’22): 5.2%
- Inhabitants development (2022, YoY): -0.1%
- Change in place between 2022 and 2023: 0 (Minneapolis wasn’t included final 12 months resulting from uncertainty about its pending hire management insurance policies)
Supply: NAR Market Reports – Q3-2022
How the Minneapolis Actual Property Market Stacks Up Towards Different Metros
- #8: Markets with the bottom unemployment charges in 2022
- #14: Highest-rated job markets within the U.S. in 2022
- #24: Markets the place multifamily models make up a excessive proportion of latest development
- #27: Highest-rated locations to stay within the U.S. in 2022
- #29: Markets with essentially the most employment development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
#49: Gainesville, FL
Gainesville Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 4.8%
- Asking hire development (Q3-’22, YoY): 8.3%
- Multifamily cap price (Q3-’22): 5.4%
- Inhabitants development (2022, YoY): 0.6%
- Change in place between 2022 and 2023: +7
Supply: NAR Market Reports – Q3-2022
How the Gainesville Actual Property Market Stacks Up Towards Different Metros
- #7: Markets with the best financial development in 2022
- #17: Markets with a robust provide of reasonably priced and out there leases
- #17: Markets with a excessive proportion of residents who hire their houses
- #19: Markets with essentially the most family development projected for the subsequent 5 years
- #23: Markets with an reasonably priced price of doing enterprise
- #26: Markets with the bottom unemployment charges in 2022
- Try the Methodology part for particulars on every of those rankings.
#50: Manchester & Nashua, New Hampshire
Manchester Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 2.4%
- Asking hire development (Q3-’22, YoY): 7.2%
- Multifamily cap price (Q3-’22): 5.4%
- Inhabitants development (2022, YoY): 0.3%
- Change in place between 2022 and 2023: -23
Supply: NAR Market Reports – Q3-2022
How the Manchester Actual Property Market Stacks Up Towards Different Metros
- #11: Most well-run cities within the U.S.
- #17: Markets with the bottom emptiness charges in 2022
- #18: Markets with the best financial development in 2022
- #18: Markets with the bottom unemployment charges in 2022
- Try the Methodology part for particulars on every of those rankings.
#51: Colorado Springs, CO
Colorado Springs Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 8.3%
- Asking hire development (Q3-’22, YoY): 4.9%
- Multifamily cap price (Q3-’22): 4.4%
- Inhabitants development (2022, YoY): 0.8%
- Change in place between 2022 and 2023: -10
Supply: NAR Market Reports – Q3-2022
How the Colorado Springs Actual Property Market Stacks Up Towards Different Metros
- #2: Highest-rated locations to stay within the U.S. in 2022
- #8: Greatest cities to start out a enterprise in 2022
- #16: Markets with the best financial development in 2022
- #26: Most well-run cities within the U.S.
- Try the Methodology part for particulars on every of those rankings.
#52: Spokane, WA
Spokane Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 4.9%
- Asking hire development (Q3-’22, YoY): 3.3%
- Multifamily cap price (Q3-’22): 5.0%
- Inhabitants development (2022, YoY): 1.1%
- Change in place between 2022 and 2023: -37
Supply: NAR Market Reports – Q3-2022
How the Spokane Actual Property Market Stacks Up Towards Different Metros
- #2: Markets the place renting is extra reasonably priced than proudly owning a house
- #2: Markets the place multifamily models make up a excessive proportion of latest development
- #5: Markets with a robust provide of reasonably priced and out there leases
- #16: Highest-rated job markets within the U.S. in 2022
- #18: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #19: Markets with essentially the most family development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
#53: Tucson, AZ
Tucson Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.1%
- Asking hire development (Q3-’22, YoY): 5.5%
- Multifamily cap price (Q3-’22): 4.9%
- Inhabitants development (2022, YoY): 0.6%
- Change in place between 2022 and 2023: -41
Supply: NAR Market Reports – Q3-2022
How the Tucson Actual Property Market Stacks Up Towards Different Metros
- #5: Markets with a robust provide of reasonably priced and out there leases
- #15: Markets with an reasonably priced price of doing enterprise
- #18: Most well-run cities within the U.S.
- #21: Markets the place renting is extra reasonably priced than proudly owning a house
- #26: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #27: Markets with essentially the most family development projected for the subsequent 5 years
- #29: Markets with essentially the most employment development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
#54: Sacramento, CA
Sacramento Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 5.1%
- Asking hire development (Q3-’22, YoY): 2.4%
- Multifamily cap price (Q3-’22): 4.2%
- Inhabitants development (2022, YoY): 0.5%
- Change in place between 2022 and 2023: -37
Supply: NAR Market Reports – Q3-2022
How the Sacramento Actual Property Market Stacks Up Towards Different Metros
- #10: Markets the place renting is extra reasonably priced than proudly owning a house
- #10: Markets the place multifamily models make up a excessive proportion of latest development
- #15: Markets with essentially the most employment development projected for the subsequent 5 years
- #26: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- #27: Quickest-growing markets within the U.S. in 2022
- Try the Methodology part for particulars on every of those rankings.
#55: Grand Rapids, MI
Grand Rapids Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 3.1%
- Asking hire development (Q3-’22, YoY): 8.1%
- Multifamily cap price (Q3-’22): 5.5%
- Inhabitants development (2022, YoY): 0.3%
- Change in place between 2022 and 2023: -18
Supply: NAR Market Reports – Q3-2022
How the Grand Rapids Actual Property Market Stacks Up Towards Different Metros
- #16: Highest-rated locations to stay within the U.S. in 2022
- #22: Most well-run cities within the U.S.
- #29: Markets with the bottom emptiness charges in 2022
- Try the Methodology part for particulars on every of those rankings.
#56: Reno, NV
Reno Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 7.8%
- Asking hire development (Q3-’22, YoY): 1.3%
- Multifamily cap price (Q3-’22): 4.3%
- Inhabitants development (2022, YoY): 1.2%
- Change in place between 2022 and 2023: -9
Supply: NAR Market Reports – Q3-2022
How the Reno Actual Property Market Stacks Up Towards Different Metros
- #9: Quickest-growing markets within the U.S. in 2022
- #13: Markets with the best financial development in 2022
- #13: Greatest cities to start out a enterprise in 2022
- #26: Markets with excessive ranges of incoming companies and low ranges of outgoing companies in 2022
- #28: Most well-run cities within the U.S.
- #29: Highest-rated job markets within the U.S. in 2022
- Try the Methodology part for particulars on every of those rankings.
#57: Greenville, SC
Greenville Rental Market Statistics
- Multifamily emptiness price (Q3-’22): 5.9%
- Asking hire development (Q3-’22, YoY): 9.3%
- Multifamily cap price (Q3-’22): 4.8%
- Inhabitants development (2022, YoY): 1.1%
- Change in place between 2022 and 2023: -12
Supply: NAR Market Reports – Q3-2022
How the Greenville Actual Property Market Stacks Up Towards Different Metros
- #6: Markets with an reasonably priced price of doing enterprise
- #13: Markets with a robust provide of reasonably priced and out there leases
- #16: Markets the place rents elevated essentially the most in 2022
- #23: Highest-rated native economies within the U.S.
- #28: Most in-demand actual property markets amongst traders for 2023
- Try the Methodology part for particulars on every of those rankings.
#58: Jersey Metropolis, NJ
Jersey Metropolis Rental Market Statistics
- Change in place between 2022 and 2023: +21 (Jersey Metropolis was grouped with Newark final 12 months)
- Observe: Jersey Metropolis rental market statistics weren’t out there from NAR for 2022
How the Jersey Metropolis Actual Property Market Stacks Up Towards Different Metros
- #3: Markets with a excessive proportion of residents who hire their houses
- #8: Markets with the bottom emptiness charges in 2022
- #23: Markets with essentially the most employment development in 2022
- Try the Methodology part for particulars on every of those rankings.
#59: Oakland, CA
Oakland Rental Market Statistics
- Change in place between 2022 and 2023: 0 (Oakland was grouped with San Francisco final 12 months)
- Observe: Oakland rental market statistics weren’t out there from NAR for 2022
How the Oakland Actual Property Market Stacks Up Towards Different Metros
- #11: Markets with a excessive proportion of residents who hire their houses
- #13: Quickest-growing markets within the U.S. in 2022
- #18: Markets with essentially the most employment development projected for the subsequent 5 years
- #27: Greatest cities to start out a enterprise in 2022
- Try the Methodology part for particulars on every of those rankings.
#60: Tacoma, Washington
Tacoma Rental Market Statistics
- Change in place between 2022 and 2023: 0 (Tacoma was grouped with Seattle final 12 months)
- Observe: Tacoma rental market statistics weren’t out there from NAR for 2022
How the Tacoma Actual Property Market Stacks Up Towards Different Metros
- #10: Markets the place renting is extra reasonably priced than proudly owning a house
- #10: Markets the place multifamily models make up a excessive proportion of latest development
- #14: Quickest-growing markets within the U.S. in 2022
- #19: Markets with the best financial development in 2022
- #20: Highest-rated job markets within the U.S. in 2022
- #26: Markets with essentially the most employment development projected for the subsequent 5 years
- #26: Markets with essentially the most family development projected for the subsequent 5 years
- #26: Markets with essentially the most inhabitants development projected for the subsequent 5 years
- Try the Methodology part for particulars on every of those rankings.
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Methodology: How Do We Calculate Our Rating of Up-and-Coming Actual Property Markets?
Business Indicators
Measures of alternative for traders and property managers:
Housing Indicators
Measures of housing affordability, availability, and improvement:
- Markets with the biggest improve in asking rents during the last 12 months (the charges marketed for vacant models), as measured by the National Association of Realtors
- Markets with the bottom multifamily emptiness charges during the last 12 months, as measured by the National Association of Realtors
- Markets the place multifamily models make up a excessive proportion of latest development, as calculated by PwC & the Urban Land Institute
- Markets with a robust provide of reasonably priced and out there leases for households making 80% of the realm median revenue, as calculated by PwC & the Urban Land Institute
- Markets the place renting is extra reasonably priced than proudly owning a house, driving demand for leases, as calculated by PwC & the Urban Land Institute
- Markets with a excessive proportion of residents who hire their houses, indicating sturdy demand for leases, as calculated by PwC & the Urban Land Institute
- Markets that current one of the best worth for consumers versus markets the place properties run the danger of being overpriced, as calculated by Florida Atlantic University
- Markets the place housing allow creation is maintaining with family formation in addition to employment development—indicating the place housing availability is balanced with demand—as calculated by PwC & the Urban Land Institute
Financial and Job Market Indicators
Measures of job creation and alternative, employment, wage development, productiveness, and value of doing enterprise:
- Markets with essentially the most employment development projected for the subsequent 5 years, as measured by PwC & the Urban Land Institute
- Highest-rated job markets and greatest cities for jobs within the U.S. in 2022 primarily based on common salaries, unemployment charges, employment development, and different elements calculated by WalletHub and U.S. News
- Most well-run cities within the U.S. in 2022, as calculated by WalletHub primarily based on their funds per capita in addition to measures of economic stability and financial well being, security, infrastructure, and the standard of their academic and healthcare methods
- Markets with an reasonably priced price of doing enterprise, making it simpler for small companies to get off the bottom and discover success, as calculated by PwC & the Urban Land Institute
- Markets with a excessive degree of funding in neighborhood infrastructure from each private and non-private sources—serving to their economies develop and appeal to extra staff, residents, and traders—as measured by PwC & the Urban Land Institute
- Greatest cities to start out a enterprise in 2022 primarily based on the enterprise setting, price of doing enterprise, and entry to assets, as calculated by WalletHub
- Highest-rated native economies within the U.S. primarily based on trade specialists’ scores of their native markets’ financial well being, as measured by PwC & the Urban Land Institute
- Markets with essentially the most financial development projected for the subsequent 5 years—as measured by their gross metropolitan product, which signifies {that a} metropolis’s financial system is rising primarily based on the annual output of its metro space—reported by PwC & the Urban Land Institute
- Markets with the best financial development in 2022, measured by their gross home product and reported by the National Association of Realtors
- Markets with essentially the most employment development in 2022, as measured by the National Association of Realtors
- Markets with excessive ranges of incoming companies and low ranges of outgoing companies in 2022, as measured by the National Association of Realtors
Demographic Indicators
Measures of inhabitants development and family formation:
- Markets with essentially the most inhabitants development in 2022, as measured by the National Association of Realtors
- Markets with essentially the most inhabitants development and family formation projected for the subsequent 5 years, indicating continued development in housing demand and the native financial system, as measured by PwC & the Urban Land Institute
- Markets with excessive ranges of inmigration and low ranges of outmigration in 2022, as measured by U.S. News and the National Association of Realtors
- Quickest-growing cities within the U.S. in 2022 on demographic and financial measures, as calculated by WalletHub
- The very best-rated locations to stay within the U.S. in 2022, primarily based on analyses of housing affordability, high quality of life, desirability, migration, and job market high quality carried out by U.S. News every year
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