Secondary and tertiary markets across the American West and Florida are projected to be multifamily outperformers in 2022, led by Phoenix, Las Vegas, Tampa, Tucson, and Albuquerque, according to new research from Freddie Mac.

Those cities are projected to post annualized growth in gross income ranging between 6 and 7.6%, with vacancies hovering in neighborhoods of between 3.3% (Albuquerque) and 4.6% (Phoenix). Atlanta, Sacramento, Riverside, West Palm Beach, and Fort Lauderdale round out the top 10.

Meanwhile, in a change from 2021, the bottom 10 markets by projected gross income are no longer urban gateway cities; instead, they are located across the Midwest and the Northeast. They include Omaha, Buffalo, Northern New Jersey, Nashville, and Central New Jersey.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.