narrowing the market search area

[Mitch Black]

Noob here.  This is a heavily loaded question.  I am not expecting a lengthy response, just maybe a pearl of wisdom or two from those more experienced.  Or, possibly a book or website recommendation.

1)  What are some of the tip/tricks/short-cuts to narrowing the field of potential markets?  I know my goals, and I know the numbers which make me comfortable.  But, how do I narrow the entire US to a field of potential areas which would be worthy of a deeper dive?  I am looking to develop a process which relies on quantitative data - I am an analytic type.  I have been looking at job/population growth forecasts for areas individually.  Cumbersome!  What are good data predictors?

2)  Further, once a market looks attractive based on the process, how to determine which neighborhoods are the up-and-coming ones versus the, perhaps, not so desirable or ones in decline?  For example, I know in my home town to buy north of Main street and east of 1st but never south of Main or west of 1st.  I know crime stats are useful, but they don't always tell the story of those areas which are up-and-coming.

Thanks in advance!