Top 10 Forecasted Multifamily Markets for 2020

Each year, Marcus and Millichap releases their Multifamily North American Investment Forecast (you can download the full report here). Their annual report includes National Multifamily Index (NMI).

The NMI is based on forward-looking economic indicators and supply-and-demand metrics, including projected job growth, vacancy, construction, housing affordability, rents, historical price appreciation and cap rate trends. These are the same economic and supply and demand metrics we use to select our target investment markets.

Here are the top 10 forecasted multifamily markets for 2020:

10. New York City

Business Insider

2019 Rank: 3

2019 to 2020 Change: -7

9. Sacramento


2019 Rank: 11

2019 to 2020 Change: +2

8. Boston

The Boston Globe

2019 Rank: 8

2019 to 2020 Change: 0

7. Minneapolis-St. Paul

Pioneer Press

2019 Rank: 1

2019 to 2020 Change: -6

6. Phoenix


2019 Rank: 13

2019 to 2020 Change: +7

5. Tampa-St. Petersburg


2019 Rank: 12

2019 to 2020 Change: +7

4. Riverside-San Bernardino


2019 Rank: 7

2019 to 2020 Change: +3

3. San Diego


2019 Rank: 2

2019 to 2020 Change: -1

2. Seattle-Tacoma


2019 Rank: 5

2019 to 2020 Change: +3

1. Orlando


2019 Rank: 6

2019 to 2020 Change: +5


Are you an accredited investor who is interested in learning more about passively investing in apartment communities? Click here for the only comprehensive resource for passive apartment investors.

Disclaimer: The views and opinions expressed in this blog post are provided for informational purposes only, and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action.

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