Market Intelligence: Small Markets Outlook
Small multifamily metros have increased in popularity in recent years, a trend that started in the second half of the 2010s cycle. But amid large-scale population reshuffling and migration trends in the early part of this decade, smaller metros—traditionally considered “secondary” markets—have become attractive to developers, investors and renters.
Smaller markets offer investors and developers the opportunity to carve out a niche in rental markets less frequented by national owners/operators. For renters, smaller apartment metros can provide lifestyle changes such as affordability and the ability to work remotely. However, their smaller size and less proven supply/demand fundamentals may pose risks.
Join RealPage® multifamily industry experts as they share their perspectives on the nation's smaller, secondary and tertiary apartment markets heading into 2025.
Key topics explored in this hour-long session include:
- An overview of performance metrics and where things stand at the start of 2025
- A snapshot of the smaller markets that may trend ahead of national norms in 2025—and what markets may fall behind the pace
- A quick discussion of tiny, tertiary markets and what parts of the country may be worth considering as the "up and coming" multifamily metro areas
- Thoughts on qualitative and quantitative headwinds/tailwinds that should factor into near-term expectations
Carl Whitaker is RealPage’s Chief Economist, leading the company's team of economists and market analysts. Carl and the Market Intelligence team specialize in analyzing and disseminating economic and market trends for the rental housing industry. He primarily focuses on presenting trends in the rental housing industry to a wide audience, including investors, asset managers, operations professionals and media, among other personas. Carl has been cited in the Wall Street Journal, Bloomberg and GlobeSt and is a frequent keynote speaker for industry events. Carl holds degrees from the University of North Texas, including a Master of Science in Applied Geography.
Adam Couch
Market Analyst, RealPage, Inc.Adam Couch is a Market Analyst and has extensive experience in researching economic and demographic trends that support clients in their investment decisions. Adam has been a featured speaker at several multifamily housing industry conferences and regularly provides commentary for national and local business media. Prior to joining RealPage, Adam worked at Fannie Mae advising leadership on risk management for current pricing and acquisitions.
