I personally like to find a balance between current cap rate and demographic/r.e. development trends happening in that area. 

@Emad AbdelrahmanWikipedia has the basic demographic data for the various cities, counties, and the Metro area as whole. 

By far the biggest thing driving success in any self storage facility is understanding the demographics of the area and your customers. 

High risk deals (C- class properties in opportunistic markets) should have a hurdle closer to 10-12%, and lower risk deals (A class properties with a strong demographic and stable cash flow) should have a 6-8% hurdle.

Do you have a good sense of how your market is performing (ie demographics - are people moving in/out, are jobs stable, any gentrification in progress, how are rental rates and vacancy rates trending).  

Also, local residents or the community may not like as they are afraid of changing the demographics and culture of the neighborhood. 

So a lot of people who had a foreclosure or short sale on the credit the lenders now will look at giving them a loan again on a house etc.So the projections are for home ownership levels to go up and not detract.There is macro and micro markets that are local so it will vary by area how much product is being developed versus the demographic and population levels that can absorb it.

Has any one engaged demographers for their research? 

Also, we aren’t familiar with demographics of tenants in Portland, we felt very comfortable with renting a SFH in Vancouver (likely to young families) but this four plex would likely be to singles, working professionals, etc and would likely have higher turnover we’d have to factor. 

In curious about the demographic shift.