From the research I've been doing from out of state, the market is performing well and shows signs of being resilient in a recessionary environment: - Unemployment is ~2.7% which is below national averages- Vacancy is low at 3.1% despite rents increasing 9.7% from last year - There's not a lot of new inventory coming on market (# of units grew only 1.9% this year) Combining all this with the fact that housing prices have increased, so that it's more unaffordable to buy a house at this time, bodes well for multifamily.But what's it like to be actually in the market? 

@Andrew Way, thanks for the post, I grew up in Oregon myself. 

I grew up in Homewood by 183rd & Marshfield!  

Mostly drawn there because bozeman (where I grew up) is too expensive and also because of the base and hospitals there.

@Karen Margrave,I am someone who grew up in CA and moved to Chattanooga TN 4.5 years ago.  

As some one who grew up 30 minutes north of Winton Salem, and have spent most my work life in Winston job market- I can speak fairly confidently from experience in the area.

Brandon turner would normally mention that most high cost of living markets would have a more affordable market to get in within a 2-3 hour drive.I also suggest picking a market that you have some familiarity with.Is there a market that you grew up in, went to college in, visit that you feel like you know well and fits your investment criteria?

Ilona I actually grew up in Kissimmee and my parents and brother still live in Kissimmee.

My wife grew up there and her folks are still there.We own 12-doors in Detroit and they've been fantastic for us.

I called a friend who grew up near and worked on that college campus.