Each month, the commercial real estate firm HFF reports on the current total number of jobs in each metropolitan statistical area (MSA), as well as the total number of jobs 12 months prior in order to determine the absolute and percent job growth over the past year.
The employment situation in a market is an indication of the demand for real estate. Essentially, people need jobs to pay for rent or to buy a home. The more people with jobs, the more potential customers (renters or home buyers) for real estate investors.
I recommend checking out HFF’s MSA Employment Report for the Year each month to see where your target investment market ranks. Here are the top 10 MSAs with the most job growth between March 2018 and March 2019:
10. Orlando
Livability
Total Jobs March 2018: 1,287,500
Total Jobs March 2019: 1,334,900
Total Jobs Added: 47,400
Percent Jobs Added: 3.68%
9. Los Angeles-Long Beach-Santa Ana
Road Affair
Total Jobs March 2018: 6,140,800
Total Jobs March 2019: 6,192,700
Total Jobs Added: 51,900
Percent Jobs Added: 0.85%
8. Seattle-Tacoma-Bellevue
Total Jobs March 2018: 2,021,900
Total Jobs March 2019: 2,075,100
Total Jobs Added: 53,200
Percent Jobs Added: 2.63%
7. Miami-Fort Lauderdale-Pompano Beach
Coastal Living
Total Jobs March 2018:2,680,200
Total Jobs March 2019: 2,735,700
Total Jobs Added: 55,500
Percent Jobs Added: 2.07%
6. Phoenix-Mesa-Scottsdale
Time Out
Total Jobs March 2018: 2,101,200
Total Jobs March 2019: 2,159,700
Total Jobs Added: 58,500
Percent Jobs Added: 2.78%
5. Atlanta-Sandy Springs-Marietta
Total Jobs March 2018: 2,759,300
Total Jobs March 2019: 2,819,600
Total Jobs Added: 60,300
Percent Jobs Added: 2.19%
4. San Francisco-Oakland-Fremont
Total Jobs March 2018: 2,416,900
Total Jobs March 2019: 2,478,900
Total Jobs Added: 62,000
Percent Jobs Added: 2.57%
3. Houston-The Woodlands-Sugar Land
Total Jobs March 2018: 3,064,200
Total Jobs March 2019: 3,132,000
Total Jobs Added: 67,800
Percent Jobs Added: 2.21%
2. Dallas-Fort Worth-Arlington
Total Jobs March 2018: 3,639,500
Total Jobs March 2019: 3,750,200
Total Jobs Added: 110,700
Percent Jobs Added: 3.04%
1. New York-Northern New Jersey-Long Island
Total Jobs March 2018: 9,722,600
Total Jobs March 2019: 9,845,900
Total Jobs Added: 123,300
Percent Jobs Added: 1.27%
Click ere for HFF’s full report.
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Disclaimer: The views and opinions expressed in this blog post are provided for informational purposes only, and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action.
