The traditional adage "Follow the money" takes on a new dimension in commercial real estate, where success often hinges on following the people. Population trends and demographic shifts dictate demand, ultimately driving investment opportunities across multifamily, office, retail, hotel, and other property types. Assets tend to migrate to areas where people are moving, creating dynamic markets for development and investment.
To provide deeper insights into these trends, Markerr has analyzed metro areas based on percentage population growth, absolute increases through 2024, historical five-year compound annual growth rates (CAGR), and forecasted five-year CAGR. This data offers a comprehensive view of where opportunities may lie in the evolving commercial real estate landscape. Florida and South Carolina are heavily represented.
The top 10 markets based on 2024 year-over-year population growth are Myrtle Beach, SC (3.4%); Lakeland, FL (2.9%); North Port, FL (2.4%); Fayetteville, AR (2.0%); Charleston, SC (2.0%); Provo-Orem, UT (1.7%); Raleigh, NC (1.7%); Orlando, FL (1.7%); Palm Bay, FL (1.6%); and Boise City, ID (1.6%).
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