Each year, Marcus and Millchap releases their Multifamily North American Investment Forecast. You can download the full 2020 report by clicking here.
Last week, I wrote a blog about Marcus and Millichap’s top 10 forecasted multifamily markets for 2020 based on their National Multifamily Index (NMI), which you can read here.
They also forecast the net migration into each of the major metros. The net migration is the total number of people moving into an area minus the total number of people moving out of an area. It is a measure of how well a market is at attracting and maintaining residents.
As real estate investors, the more people who are moving to and remaining in our target investment market, the more demand there is for rentals, flips, and other real estate related products.
Here is a map from Marcus and Millichap indicating the net migration for the largest markets in the country.
As you can see from the map and the title of the map, Marcus and Millichap predicts that migration will favor the south and southwest over other parts of the country.
Here are the 10 states with the greatest forecasted net migration in 2020:
10. Seattle-Tacoma
10Best
Forecasted Net Migration: 33,400
Net Migration as a % of Population: 0.8%
9. Austin
Visit Austin
Forecasted Net Migration: 36,300
Net Migration as a % of Population: 1.6%
8. Tampa-St. Petersburg
Parade
Forecasted Net Migration: 40,800
Net Migration as a % of Population: 1.3%
7. Orlando
10Best
Forecasted Net Migration: 48,400
Net Migration as a % of Population: 1.8%
6. Las Vegas
Destination360
Forecasted Net Migration: 48,700
Net Migration as a % of Population: 2.1%
5. Houston
Visit The USA
Forecasted Net Migration: 54,800
Net Migration as a % of Population: 0.8%
4. Atlanta
Atlanta Narcity
Forecasted Net Migration: 55,400
Net Migration as a % of Population: 0.9%
3. Southeast Florida
Expedia
Forecasted Net Migration: 68,700
Net Migration as a % of Population: 1.1%
2. Dallas/Fort Worth
D Magazine
Forecasted Net Migration: 69,600
Net Migration as a % of Population: 0.9%
1. Phoenix
TripSavvy
Forecasted Net Migration: 77,600
Net Migration as a % of Population: 1.5%
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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.
