Cities grow at an unprecedented rate and offer an implausible opportunity for local economies to develop. Macro and microeconomic changes are forcing businesses and individuals to seem past big players like The Big Apple, Chicago and L.A., into smaller, more cost-effective areas. Investors have become increasingly drawn to opportunities in high-growth secondary markets, giving Southeast Multifamily owners a primary opportunity to maximize real assets.
While these varieties of assets represent one among the foremost conservative, there are many other benefits to the multifamily horizon. Considering supply and demand, demographics, location, affordability, income and easy administration, multifamily housing continues to draw in domestic and international investors to the U.S. multifamily land market, offering higher returns on value-added properties which has long served low-and moderate-income renters.
Occupancy rates are set out to rise within the rental market; but because the availability of apartments is comparatively unrestricted, rent prices remain affordable for many residents. These older apartment communities near transit, shops, and other amenities have also become prime targets for investors who aim to mend them, attract higher-paying tenants, and find new buyers in relatively order.
Capitaliza has identified the six states within the Southeast where fast-growing small cities have become crown jewels for most investors:
FLORIDA Orlando, Jacksonville, Tampa, Daytona Beach
GEORGIA Macon, Decatur, Warner Robins, Savannah, Augusta
NORTH CAROLINA Charlotte, Raleigh
SOUTH CAROLINA Charleston, Greenville, Spartanburg
TENNESSEE Nashville, Knoxville
ALABAMA Birmingham, Huntsville
As more people and businesses move to thriving secondary markets, strong rent growth and occupancy rates will present great opportunities for investors looking to grow in new directions.