Top Metros Where Renters Are Coming & Leaving...

Top Metros Where Renters Are Coming & Leaving...

Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes

Top 5 Metros Attracting Renters From Elsewhere

Denver:           48%

Baltimore:       47%

San Diego:       44%

Tampa:            44%

San Francisco:  44%

And, the Not So Good Top 5 Metros: Where Renters Are Looking To Leave

Orlando:           50%

Riverside, CA:   50%

Detroit:            47%

Chicago:           43%

Charlotte, NC:   41%

Source: Apartment List

See more at:
https://www.american-apartment-owners-association.org/property-management/latest-news/here-are-top-cities-where-renters-are-seeking-move/

A little commentary...chasing demand isn't a recommended investment strategy. What's hot today may or may not be hot tomorrow. But information like this is critical for investors in developing strategies to protect ROI and plan future acquisitions that will offset any downturn experienced in another market.

Knowledge is power.  Be a force in your market!

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  • Real Estate Agent · San Diego, CA · Member since 2018 · 144 posts · 145 votes
    6y

    @Patricia Steiner

    Hey Patricia,

    Just wanted to say thanks for posting this!

    All the best,

    Donald Appleberry

  • Bjorn AhlbladPro Member
    Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
    6y

    @Patricia Steiner the two that surprise me are Baltimore and San Francisco. Thanks for the list and the links.

  • Rental Property Investor · Queens, NY · Member since 2019 · 50 posts · 33 votes
    6y

    @Patricia Steiner This is an interesting report considering the demographic differences between a lot of the metros with high percentages in both categories.

  • Real Estate Consultant · Colorado Springs, CO · Member since 2017 · 354 posts · 386 votes
    6y

    @Patricia Steiner - this is interesting. While I feel like Denver will continue to stay high on that list for a little while (the diversity of our economy, the tech money coming in, the potential for mushroom exploration make it a multi-faceted place), I would note that in Denver, the rents have not met the mortgage yet, so it's very hard to get good cap rates or cash flow in Denver- despite the demand. 

  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    6y

    Interesting data. Especially Detroit.

    The population of Detroit is actually growing for the fist time in decades, and I doubt the growth is due solely to new homeowners. 

    Also, we've approved several recent tenants that are moving BACK to Detroit from the suburbs, because the suburbs are getting too expensive.

  • Eudith VacioPro Member
    Real Estate Agent · Chicago & NWI · Member since 2015 · 860 posts · 521 votes
    6y

    Interesting stats, thanks for sharing :) I am still investing in Chicago :)

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