In our June 2021 livestream, Director of Investments Anna-Marie Allander Lieb explained how COVID migration patterns have created strong demand for multifamily projects in new markets. With many people taking advantage of remote work, we saw a mass migration into Tier III cities such as Salt Lake City, UT, and Charlotte, NC, leading to a 6% increase in rent growth. This rent growth, coupled with strong employment growth and lower costs of living, means Tier III cities are providing unique multifamily investment opportunities.
Learn more about our outlook for multifamily real estate in our CRE Market Outlook.