Filtering based on demographics
Greetings, All,
I'm working on my first investment property, and, from what I've gathered from BP, the first step is to identify my market. Part of that includes assessing the demographics of the city/state I'd like to invest in, but I can't seem to find accurate/up-to-date information about demographics anywhere.
How do I screen cities for wage growth, crime, median income, etc.? Which sites can I trust?
I've been doing quick google searches until now, but I want to be as accurate as possible. A lot of sites have conflicting information. Any help would be greatly appreciated.
Quote from @Oladimeji Sonibare:
Greetings, All,
I'm working on my first investment property, and, from what I've gathered from BP, the first step is to identify my market. Part of that includes assessing the demographics of the city/state I'd like to invest in, but I can't seem to find accurate/up-to-date information about demographics anywhere.
How do I screen cities for wage growth, crime, median income, etc.? Which sites can I trust?
I've been doing quick google searches until now, but I want to be as accurate as possible. A lot of sites have conflicting information. Any help would be greatly appreciated.
@Oladimeji Sonibare hey yea I feel your pain...there is so much data out there and its in so many different places. I've actually started to gather some of it together and am happy to share with you what I have for where you're looking :)
Shoot me a DM!
Wow. Thanks a lot, man. @Andre Crabb
Hey @Oladimeji Sonibare - I've had a lot of luck with local county websites for population information, the information is free but there are also other sites that charge a few dollars to give you the info and save you the headache of searching by yourself. You can also Google job growth and migration information and it's readily available.
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Broker New York (#10401359681)
- 929-349-8042
- http://www.ClosedByMo.com
- [email protected]
Hi Oladimeji,
I use CensusConnect, best tool I found that gives you demographic data, rent vs own... Very easy to use and it gives you data on the block level vs zip code.
Hope that help.
Amy
Census.gov has a lot of info on cities. Has info on pop growth, age, percent of owners/renters, median mortgage/rent, income, economy... It's a good place to start to see if the area might be good to invest in.
Quote from @Greg M.:
Census.gov has a lot of info on cities. Has info on pop growth, age, percent of owners/renters, median mortgage/rent, income, economy... It's a good place to start to see if the area might be good to invest in.
I agree with Greg. I also like to look at where big businesses are trying to make their headquarters. They pay people to research different areas and look what the best area would be to invest in next. For example Intel, Amazon, the Limited, Chipotle, and more have chose to come to Columbus Ohio. Not to mention our appreciation has been 8% higher then the US national average, because of the high demand for affordable housing.
@Steven Foster Wilson
I sincerely appreciate the feedback, guys. Shortly after I made the post, I stumbled into Census.gov and it’s been super helpful. The only thing it’s missing is data on crime/safety, corporate migration and rent/wage growth. It’s pretty thorough, otherwise. I’ll try and comb through the other sites. Hopefully, I can find all I need. Best of luck to all!
Quote from @Amy Lee:
Hi Oladimeji,
I use CensusConnect, best tool I found that gives you demographic data, rent vs own... Very easy to use and it gives you data on the block level vs zip code.
Hope that help.
Amy
Hi Amy - would you have the URL to CencusConnect? Thanks.