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Salt Lake City and Two California Multifamily Markets Could Rival Sun Belt

These cities are under the radar for multifamily investors but offer potentially strong returns and less competition.

Salt Lake City, the Inland Empire and Orange County are emerging as strong options for multifamily investors looking for less competition and solid returns rivaling Sun Belt markets, according to a new analysis from CBRE.

Overall, private investors’ share of total multifamily investment increased to 30% in 2022 from 23% in 2019, while institutional investors’ share rose to 10% from 7%. And while the share of capital being invested in garden-style and mid-/high-rise properties has stayed steady, CBRE’s experts say “multifamily investors have redirected their geographic focus.”

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Lynn Pollack

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