BYTHE NUMBERS
presented by
LOCAL MARKET MONITOR
Northern California
Thursday, December 1, 2016 Grand Hyatt San Francisco www.crelc.com
Where theAction Is JOB GROWTH IN RETAIL SECTOR IS GOOD NEWS FOR RESIDENTIAL RENTAL PROPERTIES.
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by Ingo Winzer
ne of the most sensitive and meaningful barometers of the local economy is the retail sector. Store
markets, the action is moving to down- town areas where young adults prefer to live and congregate. Our Top 10 markets have solid economic fundamen- tals—good population
A bonus from the growth in retail jobs is that the holders of those jobs— and the ones who will be added in coming years —are renters. •
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owners are a cheap bunch who won’t add staff unless they re- ally, really have to. So when
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they do, as they have in our Top 10 markets, it means not only that the local economy is doing well right now but also that it’s likely to have legs. This is good news for real estate, especially for residential rental properties. The suburbs still get a lot of retail business, but in many
growth, moderate rents, rising home prices and above-average economic growth—so you can’t really go wrong. But the strong growth of retail suggests an opportunity to invest in downtown apartments
IngoWinzer is president of Local Market Monitor, which analyzes conditions in 300 U.S. markets, using such economic data as home values and growth in employment and population. Winzer, who has analyzed
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real estate markets for more than 20 years, was a founder and executive vice president of First Research, an industry research company that was acquired by Dun & Bradstreet in March 2007. He is a graduate of MIT and holds an MBA in finance from Boston Univer- sity. Winzer resides in Cambridge, Mass.
or town houses that may become scarce in the next few years.
www.localmarketmonitor.com
3-YEAR POPULATION GROWTH (%)
JOB GROWTH IMPROVEMENT (1 YR %)
LATEST HOME PRICE INCREASE (%)
2014 POPULATION
AVG. HOME PRICE (000)
MONTHLY RENT
LATEST JOB GROWTH (%)
LOCAL MARKET MONITOR
686,908
$221.75
$946
4.3
2.9
6
6.8
Colorado Springs, CO
Comprehensive rent surveys at the push of a button.
1,242,974
$238.80
$1,066
7.1
3.6
7
6.5
Raleigh-Cary, NC
965,974
$196.10
$1,035
2.9
3.4
7
6.0
Fresno, CA
5,614,323
$199.59
$1,132
4.7
3.1
7
5.2
Atlanta-Sandy Springs-Marietta, GA
727,689
$287.22
$1,105
6.8
2.3
9
4.2
Charleston-North Charleston, SC
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2,069,681
$185.61
$1,084
5.8
2.3
8
3.8
Las Vegas-Paradise, NV
4,489,109
$224.18
$1,067
5.7
3.4
9
3.6
Phoenix-Mesa-Scottdale, AZ
2,328,652
$200.52
$1,003
6.5
2.8
7
3.6
San Antonio, TX
634,638
$147.75
$939
5.6
2.8
9
2.6
Lakeland, FL
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1,027,703
$154.35
$891
2.6
2.6
8
2.5
Grand Rapids-Wyoming, MI
Source :: Local Market Monitor
118 | think realty magazine september :: october 2016
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