Southwest and Sunbelt Markets to Dominate Multifamily Housing in 2022: Forecast

Originally published on January 19, 2022, by Phil Hall for Benzinga.

In this year’s U.S. Multifamily Index – which ranks 46 major markets on a criteria mix including the local labor market, vacancies, construction and affordability – Orlando and Las Vegas placed first and second thanks to a high-level of job creation and household formation rates – which, the report predicted, will lead to higher rates of rent growth.

Metro areas in the Southwest and the Sunbelt that are experiencing higher-than-average in-migration also ranked high on the index, including Phoenix (#5), Salt Lake City (#6) and Austin (#7).

Florida markets accounted for five of the top 10 apartment markets in this year’s index – joining Orlando were Fort Lauderdale (#3), West Palm Beach (#4), Tampa (#8) and Miami (#10), while a quick recovery from the pandemic-era economy put Atlanta in ninth place on the index.

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