Where to invest for stable rent in a down market?

[Vlad Morel]

I am interested in finding locations, property types, and markets that have stable or appreciating rents and stable or decreasing vacancy rates to protect from the inverse in overall market downturns / medium income downturns so business can go on as usual (or better). The idea is to still cash flow and build equity as I would before and wait for an expansion or peak to sell if I want to. I have found there to be a lack of easily searchable and reliable information on this, besides for this thread.

https://www.biggerpockets.com/forums/48/topics/159564-when-a-housing-bubble-bursts-do-rent-prices-decrease-accordingly

So, in your experience in previous down markets, what has worked best? residential, commercial, industrial, certain micromarkets, certain price ranges, certain cities or rural areas, certain property types etc.

Thanks in advance