Seeking 1% Growth Markets for 1031 Exchange (Multifamily Focus)

[Lambros Politis]

Hey BiggerPockets Community,

I'm currently planning a 1031 exchange and looking to identify markets with strong fundamentals for multifamily investment. I'm focusing on areas that exhibit the following key metrics, which I believe indicate a healthy and growing market:

• 1% or higher annual population growth: This suggests increasing demand for housing.
• 1% or higher annual job growth: A strong job market drives economic stability and housing demand.
• Median salary of $60,000 or more: This indicates affordability and a solid tenant base.

Ideally, I'm looking for markets where these three factors converge, creating a robust environment for multifamily investments.

My questions for the community are:

1. Which specific markets are currently meeting or exceeding these criteria? (Please provide data sources if possible.)
2. Are there any additional metrics or factors I should be considering when evaluating these markets for a 1031 exchange?
3. What are the potential risks or challenges associated with investing in these high-growth markets?
4. How are current interest rates impacting these markets and what future impacts do you forsee?
5. Are there any resources or tools you recommend for tracking these market trends?

I'm particularly interested in markets that offer a good balance of growth potential and affordability. Any insights or experiences you can share would be greatly appreciated.

Thanks in advance for your help!

Best regards, 

Lamb

[Lambros Politis]

I don’t trust large language models as far as I can throw them. It’s a pretty well-known fact that they are prone to hallucinations and spitting out bad information. I’m simply hoping I can find someone to help me identify a high-yield submarket where people pay their rent on time.