The Best-Performing Cities of 2020
The Milken Institute’s “Best-Performing Cities” series has been used by real estate investors for two decades to identify strong markets and guide future investment. The report ranks metro areas based on past performance, and uses indicators such as job, wage and high-tech GDP growth to identify the drivers of each region’s successes and failures.
San Francisco-Redwood City-South San Francisco, CA finished at the top of the list of best-performing large cities. The metro rose three spots from its fourth-place finish in 2018. The metro also finished first in the study’s five-year high-tech GDP growth rankings. The top five metros included: Provo-Orem-UT; Austin-Round Rock, TX; Reno, NV; and Orland-Kissimmee-Sanford, FL.
The biggest jump in the large city rankings was Palm Bay-Melbourne-Titusville, FL. The metro finished 10th, and was up 47 spots from 57th in 2018. Main drivers of the region’s growth include its strong aerospace and national defense sectors. Its favorable climate also attracts residents to the region.
For the fourth year in a row, Bend-Redmond, OR finished atop the best-performing small cities rankings. Additionally, Grants Pass, OR finished in the No. 2 spot for 2019. The area rose 21 spots from the 23rd position in 2018. These cities scored high for high-tech GDP growth, as well as strong wage and job growth. The area’s diverse economy and highly educated workforce ensure these cities will be top performers for years to come.
View the full report here: Best-Performing Cities 2020: Where America’s Jobs Are Created and Sustained
For more multifamily research and insights, visit the Chatter blog. Need financing for your multifamily investment? View Arbor’s loan programs to see how we can help you achieve your investment goals today.