Author: Multifamily News

Hickory, NC Ranked Least Expensive Metro To Live In The United States

The U.S. News & World Report list is based on the median gross rent and annual household costs for mortgage-paying homeowners of each metro area.

Spartanburg, SC (11) Greenville, SC (12) and Winston-Salem, NC (16) also made the top 25:

  1. Hickory, NC
  2. Youngstown, OH
  3. Huntington, WV & Ashland, KY
  4. Huntsville, AL
  5. Fort Wayne, IN
  6. Beaumont, TX
  7. Peoria, IL
  8. Green Bay, WI
  9. Quad Cities, IA
  10. Knoxville, TN
  11. Spartanburg, SC
  12. Greenville, SC
  13. Fayetteville, AR
  14. South Bend, IN
  15. Brownsville, TX
  16. Winston-Salem, NC
  17. Chattanooga, TN
  18. Lafayette, LA
  19. Springfield, MO
  20. Tulsa, OK
  21. Toledo, OH
  22. Dayton, OH
  23. Little Rock, AR
  24. Pittsburg, PA
  25. Montgomery, AL

Source: U.S. News & World Report

Highest Multifamily Rent Growth Markets Over Next 5 Years & The “Next” Austin, TX

Markerr uses machine-learning to accumulate data on real estate markets, and they released their forecast for the markets with the strongest Compound Annual Growth Rate for multifamily rents through 2028:

  1. Knoxville, TN – 4.4%
  2. Portland, ME – 4.3%
  3. Greenville, SC – 4.3%
  4. Syracuse, NY – 4.2%
  5. Palm Bay, FL – 4.0%
  6. Winston-Salem, NC – 3.8%
  7. Allentown, PA – 3.7%
  8. Greensboro, NC – 3.7%
  9. Albany, NY – 3.7%
  10. Wichita, KA – 3.6%

Markerr analyzed several metrics including population, education, growth of tech workers, and salaried workers in 2011 and compared it to today to try and find where the “next” Austin, TX will be. Raleigh, NC lead the country as the top candidate:

  1. Raleigh, NC
  2. Provo, UT
  3. Madison, WI
  4. Kansas City, KS
  5. Colorado Spring, CO

This week Neal Bawa of Grocapitus, a multifamily data analyst, also named Raleigh, NC as his number 1 multifamily market to invest in 2024 based on the outlook over the next 5 to 7 years.

Source: Markerr and Multifamily University