Best cities for multi-family investing
Looking into cities to buy a multi family property. Any advice?! From my research this far I am looking towards the south east region of the US. Being that I am from the Boston area, around here isn’t that practical.
Most Popular Reply
I'm biased, but I really like Phoenix.
- #1 in rent growth. Not only that, there's a lot of runway left. Phoenix spends around 22% of the income on rent, when the national average is close to 33%. While most of the country has seen rent growth slow way down, Phoenix is seeing increasing rent growth. Depending on the source, Q1'19 was 8.5-9.5% over Q1'18.
- #2 in population growth. Located in the #1 growth county.
- 5th largest city in the country and the MSA is now at 5 million.