Faster-growing populations, inbound migration from higher-cost cities, diversifying and advancing economies, and greater ease of doing business are among the defining features of growth markets
Guide
17 October 2024
What’s driving growth markets in 2024?
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Growth markets are ideal targets for investors seeking to diversify their investments and broaden their exposure to commercial real estate. But before you decide on an investment strategy, you need a complete understanding of the trends that drive the nation’s top growth markets.
We’ve combined the most useful trends across apartments, office, industrial and retail to give you timely insights about top growth markets Houston, Atlanta, Phoenix, and Dallas.
Here are some highlights:
- Over 90% occupancy and a more affordable rental market signals untapped potential for multifamily investment in Houston.
- Atlanta remains an intriguing target for office investors thanks to its status as a top destination for corporate relocations and expansions. Major companies including Home Depot, Delta, and Coca-Cola have established headquarter campuses in Atlanta.
- Relative proximity to West Coast ports and Mexico make Phoenix a pivotal growth market for corporations. Total investment returns for the Phoenix industrial sector exceeded the national average with an impressive 81% increase from 2019 to 2023.
- Stable vacancy rates in the Dallas retail sector are a positive indicator of economic performance. Dallas was one of just two major markets where the number of retail property transactions increased over the past year.