Do you track specific demographic or other information to explore other markets?  

I am also going to analyze foreclosure rates (assuming those rates posted on certain websites are accurate), and I want to analyze number of foreclosures in relation to populations and demographics.  

Potter from the old movie "It's a Wonderful Life"--Just asking legitimate business questions about this demographic of the housing sector. )==

.) - Ideal Market Demographics as defined by the Self Storage Association - 5,000 people within 1 mile radius - 40,000 people within 3 mile radius - 80,000 people within 5 mile radius - Median income of $45,000 or more - Traffic count of 10,000 cars/day - 25% of housing is high-density@Erik Hemingway has a couple of conversion projects under his belt and is killing it.

So hire a competent commercial realtor to save time and give you a comprehensive research on new development, growth, demographics, or comparable lease/sales rates in the area.2.Get pre-approved – when you get pre-approved for a loan, it will save you more time because you know exactly what you’re looking for.

I pay attention to:-employment growth in the area-market trends-population growth-closeness to shopping mall/hospital/university/another big employer of the area-average DOM (days on market before the property gets rented)-unit mix in that area, demographics and psychographics-appreciation of middle-class neighborhoodTo do this analysis, I utilize real estate agent's knowledge of neighborhood, and the following websites:-city-data.com-neighborhoodscout.com-realtor.com-trulia.com-mapquest.com-US census bureau and bureau of labor statistics.Please, share your parameters and websites you utilize...

If your in tornado alley flats don't sell well here, so I would venture to say demographics drive attractive features.

Go view rentals online in your target area that seems to be targeting your most likely demographic and see what their units look like. 

But “location” is a broad term, and evaluating the right place to invest your dollars means identifying the right markets both geographically and economically.Some cities simply provide better opportunities than others based on factors like the relative cost of housing to average incomes, availability of good jobs, and demographic trends.

It is extremely diverse so understanding the demographics of areas and flows is extremely important IMO.