Top 10 Markets with Greatest Forecasted Migration in 2020

Each year, Marcus and Millchap releases their Multifamily North American Investment Forecast. You can download the full 2020 report by clicking here.

Last week, I wrote a blog about Marcus and Millichap’s top 10 forecasted multifamily markets for 2020 based on their National Multifamily Index (NMI), which you can read here.

They also forecast the net migration into each of the major metros. The net migration is the total number of people moving into an area minus the total number of people moving out of an area. It is a measure of how well a market is at attracting and maintaining residents.

As real estate investors, the more people who are moving to and remaining in our target investment market, the more demand there is for rentals, flips, and other real estate related products.

Here is a map from Marcus and Millichap indicating the net migration for the largest markets in the country.

As you can see from the map and the title of the map, Marcus and Millichap predicts that migration will favor the south and southwest over other parts of the country.

Here are the 10 states with the greatest forecasted net migration in 2020:

10. Seattle-Tacoma

10Best

Forecasted Net Migration: 33,400

Net Migration as a % of Population: 0.8%

 

9. Austin

Visit Austin

Forecasted Net Migration: 36,300

Net Migration as a % of Population: 1.6%

 

8. Tampa-St. Petersburg

Parade

Forecasted Net Migration: 40,800

Net Migration as a % of Population: 1.3%

 

7. Orlando

10Best

Forecasted Net Migration: 48,400

Net Migration as a % of Population: 1.8%

 

6. Las Vegas

Destination360

Forecasted Net Migration: 48,700

Net Migration as a % of Population: 2.1%

 

5. Houston

Visit The USA

Forecasted Net Migration: 54,800

Net Migration as a % of Population: 0.8%

 

4. Atlanta

Atlanta Narcity

Forecasted Net Migration: 55,400

Net Migration as a % of Population: 0.9%

 

3. Southeast Florida

Expedia

Forecasted Net Migration: 68,700

Net Migration as a % of Population: 1.1%

 

2. Dallas/Fort Worth

D Magazine

Forecasted Net Migration: 69,600

Net Migration as a % of Population: 0.9%

 

1. Phoenix

TripSavvy

Forecasted Net Migration: 77,600

Net Migration as a % of Population: 1.5%

 

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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Joe Fairless