The past few weeks, we have been talking about secondary markets and the beauty and necessity of getting outside of primary markets, and how you can capitalize on different demographics and unusual living situations. Last week, we covered the importance and prudence of student housing, and this week I want to share with you how the shift in population, based on a number of factors, can greatly affect your real estate decisions.
Why Are They Moving
So why are people moving? There is no definitive answer, but as we live in a time where knowledge is at the tips of our fingers, and there is no lack of motivation, we are seeing a lot of people leave the larger, more populated cities for slightly more rural, less stress cities. As has always been the case, a great number of people are leaving the place that they have considered “home” to be closer to jobs, industry, and healthcare. And with the insurgence of people hustling to make money through non-traditional housing such as VRBO and Airbnb, more, real families are being pushed out of the more touristy cities such as Los Angeles and New York City. They are finding that they can have more house for less in better, less popular cities such as Charlotte and Orlando. The reasons for moving are the same as they have always been. People are looking for a better life with less monetary commitment.
Where are They Going?
The resources that are available to us in this day and age are incredible! Thanks to the good people of U-Haul, who are dedicated to tracking where every person who rents their truck is relocating to, we have a comprehensive list of the top cities where people are moving, and lucky for us! Charlotte, North Carolina made it onto that list!
- Houston, TX
- Chicago, IL
- Orlando, FL
- Brooklyn, NY
- San Antonio, TX
- Las Vegas, NV
- Austin, TX
- Philadelphia, PA
- Charlotte, NC
- Columbus, OH
Why is it Important to Have This Information?
The reason that we find it so important to have this information, is so that we can be vigilant in our pursuit of properties. We are absolutely looking for properties in our immediate area, but we are also looking to the bigger picture and asking the questions that will lead us to the prime spots for multifamily real estate! As the population shifts, we want to be capable of shifting too, and by looking at the research and trends, we can have a much more broad picture of where to look next and how to get ahead of the rush.
How Does This Affect Multi-Family Real Estate?
As people are moving and changing their way of life, more and more people are looking for easier housing options. Rental properties are rising in popularity, and as more millennials are shifting out of college and into a normal life with jobs and increased responsibility, we are seeing an uptrend in their need for convenient, centralized living. Which is where multifamily real estate comes into play. We can provide them with housing that meets their needs as we continue to ride out the wave of population shifts and increased need for a multifamily living!
Are you interested in investing in add value properties that happen to be situated in popular housing markets? Let us help! Magnolia Design Properties is a real estate investment company that is honed in on add value multifamily properties in the B and C class and we would love to have you join us in investing! Let us do the heavy lifting of property acquisition, and head over to our contact page and fill out the form so that we can contact you with information about investment opportunities that you can join us in!
https://www.uhaul.com/Articles/About/14384/U-Haul-Migration-Trends-Houston-Ranks-As-No-1-Us-Destination/
