@Saurabh Dua some of what your saying here is contradictory, would help if could clarify on those.
An "emerging" city/market is going to be, by definition of "emerging", not with the strongest of rental markets at this exact moment. Because it's "emerging".
The whole point of investing in an emerging micro-market (city) is to get in early, before thing's pop off, being able to buy on the lower "pre-pop" pricing, to than ride that wave up.
And so a market that has strong rental market, that rapidly and readily fill's units, that's not emerging, that's established. Yes, maybe with much more growth vector, but not emerging.
For example, Otsego. Go just a few years back and Otsego was a sleepy little nothing farming area with all of about 1,500 / 2,500 population. Than planned city development was launched, developers came in, and "pow" in less than a decade it's over $20k in population.
When that development started, one could rent a 3br house for I kid you not $800mnth. It was an emerging market, and what's so often the case, very few had the info and insight to this direction of things.
Now, today, good luck finding a 3br home in Otsego to rent for under $2,500mnth. I lease 3br townhomes for $2,100 in Otsego.
Now, Otsego has on plans, to continue growth too 65k population. I guarantee rents will not triple again from the growth from 20k-65k. Yes it's continued growth but not that of an emerging market, it's that of an established market expanding. Big difference in the 2.
To invest in emerging markets require patience, most often it's a scale measured in years not month's for that "pop", between getting-in and reaping the rewards.
So really depends on what matters more, positioning for that big "Grand-slam" that requires patience, or going for the solid base-hit's here n now. Personally, I say go for the base-hit's. It's more reliably known and probable, vs positioning for some big happening where any number of unforseen's can delay it for who knows how long.
