When researching new markets, Where do you look for info?

8 Replies

When looking for a new market to invest in, what are you looking at?  What sites are you using for data?

I look at population growth, unemployment, median income, percent of renters, ect but I have not found a single site with all that data for my research.  Any suggestions?

Brie Schmidt, Real Estate Agent in Illinois (#471.018287) and Wisconsin (#57846-90)

Here is a quick start

http://www.census.gov/quickfacts/table/PST045214/1714000,00

google earth pro is a resource I use in larger MSA's for demographics, traffic, parcel info ect.; they recently made this free to everyone. 

If this is enough, I recommend looking into becoming CCIM candidate which provides its members a fairly robust suite of software that should incorporate the items your looking for. 

I use two different types of data, market specific RE statistics and market specific demographics, and then combine them to get a picture of what potential a market may entail.

Getting good real estate specifics is the more challenging of the two types. the best free source I know is Zillow housing data by county. you can download this as a huge .xls data sheet , just google "zillow market data"

specific market demographics are easier to aquire. US census , usa.net, and city-data are all good websites for demographic data by zip code.

Neighborhood Scout has been pretty helpful for me so far. If neighborhoodscout.com isn't the URL, you can Google the name and it'll show up.

For the areas I've searched on there, it showed house vacancy rates & more accurate average rent rates than Rentometer & Zillow. Shows accurate neighborhood home values also. Demographics, median household incomes and more.

I have used City-Data.com and Sperlings Best Places-bestplaces.net. Both have some very useful statistics and City-Data has an open forum for locals to make comments concerning their specific city when it comes to housing, weather, jobs, traffic etc.

Thanks for all these ideas, they are great in starting my research!

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