Wha? Property Investors Follow Millennials to Hot Mountain States

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Does it matter where you invest for the future? Of course it does. ****************************

Property Investors Follow Millennials to the Hot Mountain States

Wall Street Journal By  Konrad Putzier  Nov. 26, 2019 7:00 am ET

Forget Brooklyn and San Francisco. Millennials and plenty of others seeking a lower cost of living are pouring into the Western mountain states, boosting economic growth and pushing up apartment rents.

Income from rental apartment buildings nearly doubled between 2004 and 2018 in the eight mountain states, according to a new report from Trepp LLC. The research data firm looked at properties in Arizona, Colorado, Idaho, Montana, New Mexico, Nevada, Utah and Wyoming.

[Jay Hinrichs]

Originally posted by @Ian Boyd:

@Brian Garlington

In Montana, because of how rural it can be, you really have to pick a good location and you can find can flowing properties. I would bet this rule applies to more mountain states that just Montana. That being said, I would not blindly purchase any property anywhere without doing due diligence.

Mountain states are in demand for recreational activities (skiing, hiking, hunting, fishing, biking) that are hard to find and can be overloaded with people in big cities. Also a good place to have a second home, or str, in the summer for seasonal elderly people.(low humidity and lots of golfing).

I believe the influx of people to these states is everyone looking for low cost of living, cheap education, and a friendly, beautiful, environment. Not just millennials. My girlfriend is from Santa Cruz and moved to Bozeman, MT for school and now she doesn't want to go back to the city.

Santa Cruz is hardly the big city of course if she was commuting over HWY 17 into the valley for work I certainly get that. However in SC you can hole up towards Big Basin and live among the majestic redwood trees and be quite rural without minus 20 degree weather.

we also have to keep in mind with such small populations in some of these states  500 people move in and its a massive % gain.

kind of like Bend/Redmond Oregon area.. lots of folks moving in number one % wise in the US  but that's because the base population is so low to start with..  and of course Portland is where the millennials come to retire.. :)  kind of best of both worlds they get the big city fix they need with walk score local food grub and pubs.. but can be to the ocean and mountains in 30 to 60 minutes.