#CREPN 26 Multifamily Markets - Primary vs Secondary & Tertiary

National publications about rent growth, vacancy rates and appreciation can make the news about Multifamily sound GREAT all over.  The truth is; all Real Estate is local; the news in San Francisco, is not the same experience in Topeka.

Understanding the market; demographics & characteristics of the neighborhoods are essential to any predictable outcome when investing in real estate.  

John Wilhoit has held positions with Maryland Housing Fund, AIMCO and HUD which provide him a tremendous background from which to draw from when assessing the different market tiers and their unique characteristics.

“Who” are the people in the market?

Primary Markets

• What is population size of a Primary Market?
• What is the Median Income?
• How many Primary Markets are there?
• Where are the Primary Markets?
• What features in an MSA define a Primary Market?
• Return on Investment expectations in a Primary Market

Where are the 24 Hour Cities?

Secondary Markets

• How far is a Secondary market from a Primary Market?
• What population size determines a Secondary Market?
• What is the employment picture?
• Is there an Airport or Sports Team in a Secondary City?
• What is the growth pattern like?

Tertiary Markets

• How far is it from a Secondary Market?  
• How many people live in the MSA?
• Does rent increase in a Tertiary Market?
• Is there a Walmart in a Tertiary Market?

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