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According to the most recent release of US Census data, these are the top 10 cities with the largest population increase from July 1, 2017, to July 1, 2018. Whether you’re evaluating a market for a new deal, or currently hold a property in one of these markets, this is critical information to remain aware of. Population growth is a key factor to take into consideration when predicting multifamily trends. While an increase in population will naturally result in an increase for housing demand, that is not the only key factor to evaluate if the market is strong.
With an increasing population in the market, this can also be a good time to re-evaluate your strategies for current properties, such as raising rents, or perhaps consider refinancing? Remaining vigilant on market data is one of the defining factors of a wise investor or syndicator. The more knowledge you have, the better informed and opportune decisions you can make with your investments.
City #10. Frisco, TX
Total Population in 2018: 188,170
Increase in Population: 10,884
City #9: Denver, CO
Total Population in 2018: 716,492
Increase in Population: 11,053
City #8: San Diego, CA
Total Population in 2018: 1,425,976
Increase in Population: 11,549
City #7: Jacksonville, FL
Total Population in 2018: 903,889
Increase in Population: 12,153
City #6: Austin, TX
Total Population in 2018: 964,254
Increase in Population: 12,504
City #5: Charlotte, NC
Total Population in 2018: 872,498
Increase in Population: 13,151
City #4: Seattle, WA
Total Population in 2018: 744,955
Increase in Population: 15,354
City #3: Fort Worth, TX
Total Population in 2018: 895,008
Increase in Population: 19,552
City #2: San Antonio, TX
Total Population in 2018: 1,532,233
Increase in Population: 20,824
City #1: Phoenix, AZ
Total Population in 2018: 1,660,272
Increase in Population: 25,288