Market analysis

4 Replies

Hello again BiggerPocketers,

So I'm taking the first steps and looking to buy a multifamily in an area I am not too familiar with. Its not too far from me so I can definitely go out there and scope it out but I'm a little more OCD about these things and need hard data.

My question:

Are there any companies(ideally free) that can provide information on areas such as percentage of renters in a particular area and how much they are paying?

Any help is appreciated.

-Christian

I use a site called rentometer.com which gives me a general idea of what rental activity and pricing is going on in my area.  Hope you can use this. 

Medium buymemphisnow stacksCurt Davis, Buy Memphis Now | [email protected] | 605‑310‑7929 | http://www.BuyMemphisNow.com

Thanks @Curt Davis !

I am trying it now and I can see the average rent for properties but is there any other to see what the percentage of renters in an area is?

Zillow and Trulia can provide some good metrics, as well.

For rental vs. owner-occupied rates, I'm not familiar with any systems that can give you that data with a high degree of accuracy; however, you might be able to get a pretty good idea by looking at zoning maps for areas you are interested in. Areas that are zoned for multifamily are much more likely to be a high percentage of rentals than area that are predominantly SFH. Of course, SFH could also be tenant-occupied, so it is just a proxy.