By the Numbers: Sunbelt superstars with weak economic indicators

[Tom De Napoli]

Gross Domestic Product (GDP) per capita is often cited as a measurement of a nation's development or economic capacity. However, we rarely or never read much about Gross Metropolitan Product (GMP) per capita.  GMP measures a metro area's output based on national prices for goods and services. If we look at GMP per capita (from U.S. Census) we can gain additional perspective on the vitality of the area's economy.  

As you can see below, the bottom 10 includes some Rustbelt metros, but also several superstar growth metros in the Sunbelt: 

Top 10 Metros for GMP/capita (of largest 53 metros)

1. San Jose
2. San Francisco
3. Seattle
4. Boston
5. Washington DC
6. New York
7. Los Angeles
8. Hartford
9. Dallas
10. Denver

Bottom 10 Metros for GMP/capita (lowest first)

1. Riverside, CA
2. Tucson, AZ
3. Tampa - St. Petersburg, FL
4. Las Vegas
5. Jacksonville, FL
6. Providence, RI
7. Phoenix, AZ
8. Buffalo, NY
9. Rochester, NY
10. Orlando, NY

How are investors among the Bigger Pockets community who own properties in the bottom 10 metros experienceing the effects of of lower GMPs?  How is it affecting rent growth or vacancies in single family rentals and multifamily buildings?  How is it affecting performance and leases of retail and office properties?  What asset types are performing better in these areas in relation to others?