The posters opinion is based on their experience, my opinion is based on mine.  

In the self storage market, they have ratios based on population to determine demand.

This of course is all based on who your market is. 

They are based out of the Smokies, but will ship nation wide.

My goal is to build a data-driven tool that provides actionable insights into which neighborhoods and property types are in the highest demand, based on metrics like:Time on market: How quickly rentals are being leased.Property characteristics: Bedrooms, bathrooms, size, and amenities.Pricing trends: Rental rates relative to market demand and property features.Visual quality: Leveraging property photos to analyze the style and condition of rentals that perform well.The tool will allow users to:Pinpoint areas with the fastest rental turnovers.Understand what types of properties (size, price range, features) rent the quickest.Gain deeper insights into property presentation and amenities that correlate with high demand.Thank you in advance for your feedback.

As an example, last year we saw markets with 9% rent growth, and some with -5% rent growth -- so there is a large variance and I expect that to continue based mostly on supply dynamics as Scott said.

While I agree that the purchase is an important part of the process, if you buy based on price and not on the STR aspect of the deal, it could fail.You might get the best damn deal on a property in an area that makes a terrible STR thus it isn't a deal at all.

I can only speak to the Texas market, where malls that focus on creating consumer experiences (coffee shops, kids play area, entertainment-based tenants) are still performing well even in this age of online shopping.  

We determined the ARV, estimated our rehab, decided on our required profit, and then negotiated on the purchase price based on that data.

I'm a CT based investor, flipper and property management company owner.