Top 10 Cities with the Highest Forecasted Net Migration for 2020

Updated: Mar 7, 2021

Net migration, in its simplest form, is simply the number or people expected to move into or out of an area. A positive net migration is an important factor to take into consideration when assessing a market to invest in, as it indicates an expected increase in demand for housing. A market with a negative or declining net migration is a red flag – if people are moving out of the market, the demand for housing will decrease, as well as increase vacancies.

There are a number of factors that influence net migrations, including cost of living, the job market and major employers, crime rates, taxes, weather patterns, and more. Before investing in a market, or when you’re already actively invested in one, it’s important to stay up-to-date with net migration patterns to help you determine if a market is strong and has long-term sustainability for investing. This is one of the reasons why I personally invest in properties in Texas, Florida, and Georgia.

According to the “2020 Multifamily Investment Forecast” by IPA Research, here are the top 10 cities with the highest net migration forecasted for 2020:

10. Raleigh, NC

Current Population: 469,298

Forecasted Net Migration: 28,200

Percentage of Population: 1.4%

9. Seattle-Tacoma, WA

Current Population: 744,955

Forecasted Net Migration: 33,400

Percentage of Population: 0.8%

8. Austin, TX

Current Population: 964,254

Forecasted Net Migration: 36,300

Percentage of Population: 1.6%

7. Tampa-St. Petersburg, FL

Current Population: 392,890

Forecasted Net Migration: 40,800

Percentage of Population: 1.3%

6. Orlando, FL

Current Population: 285,713

Forecasted Net Migration: 48,400

Percentage of Population: 1.8%

5. Houston, TX

Current Population: 2,325,502

Forecasted Net Migration: 54,800

Percentage of Population: 0.8%

4. Atlanta, GA

Current Population: 498,044

Forecasted Net Migration: 55,400

Percentage of Population: 0.9%

3. Southeast Florida

Current Population: 5,751,627

Forecasted Net Migration: 68,700

Percentage of Population: 1.1%

2. Dallas / Fort Worth, TX

Current Population: 6,800,000

Forecasted Net Migration: 69,600

Percentage of Population: 0.9%

1. Phoenix, AZ

Current Population: 1,660,272

Forecasted Net Migration: 77,600