Orlando and Las Vegas claim the top spots in Marcus & Millichap's 2022 US Multifamily Index by ranking at the top nationwide in job creation and household formation, which in turn are fostering outsized jumps in effective rent.
High rates of rent growth, bolstered by robust in-migration, distinguish many of the top-performing metros in the Index, including Phoenix (#5), Salt Lake City (#6) and Austin (#7). Many coastal residents are moving to these metros for lower-cost living arrangements.
Besides that, Florida dominates the top 10 for similar demographic reasons. Individuals, predominantly from the Northeast and Midwest, are relocating to the warmer climates of Fort Lauderdale (#3), West Palm Beach (#4) and Tampa (#8).
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