Area Analysis - How so you do that?

[Shahaf Seginer]

Hey (:  When you guys are checking a new area, what websites do you use? What are your best practices?

[Brenden Mitchum]

Hey @Shahaf Seginer, welcome to the BP community!

Great question! There really are a ton of resources for this and many different metrics one can look at. At the end of the day, it might be wise to narrow down to a few markets based on metrics but then network with investors in those markets to get an inside scoop on reality. You'll find that most people look at 6-8 factors when analyzing markets. The big 6 I see are:

1. Population over 100k

2. .5% or more year-over-year (YOY) population growth

3. 1% or more YOY median household income

4. 2% or more YOY job growth

5. 2.5% or more YOY median home value

6. Decreasing crime index

Like I said there are a bunch of other criteria you can and should look at depending on your strategy. But these should get you started and there are plenty of good sites to do your research, like data.usa, city-data, area vibes, neighborhood scout, best places, etc. A great paid (but affordable) tool is market nomad.

Hope this helps a bit! Please, feel free to reach out anytime if you have other questions or just want to chat!