Each year, Marcus and Millichap releases their Multifamily North American Investment Forecast (you can download the full report here). Their annual report includes National Multifamily Index (NMI).
The NMI is based on forward-looking economic indicators and supply-and-demand metrics, including projected job growth, vacancy, construction, housing affordability, apartment syndication, rents, historical price appreciation and cap rate trends. These are the same economic and supply and demand metrics we use to select our target investment markets.
Here are the top 10 forecasted multifamily real estate markets for 2020:
10. New York City
Business Insider
2019 Rank: 3
2019 to 2020 Change: -7
9. Sacramento
Opendoor
2019 Rank: 11
2019 to 2020 Change: +2
8. Boston
The Boston Globe
2019 Rank: 8
2019 to 2020 Change: 0
7. Minneapolis-St. Paul
Pioneer Press
2019 Rank: 1
2019 to 2020 Change: -6
6. Phoenix
TripSavvy
2019 Rank: 13
2019 to 2020 Change: +7
5. Tampa-St. Petersburg
Parade
2019 Rank: 12
2019 to 2020 Change: +7
4. Riverside-San Bernardino
Flickr
2019 Rank: 7
2019 to 2020 Change: +3
3. San Diego
Wikipedia
2019 Rank: 2
2019 to 2020 Change: -1
2. Seattle-Tacoma
10Best
2019 Rank: 5
2019 to 2020 Change: +3
1. Orlando
10best
2019 Rank: 6
2019 to 2020 Change: +5
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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.
