Spring is in the air, and that can mean only one thing: new Census population estimates, of course. The Census Bureau just released their eagerly anticipated (among a certain set) population estimates for 2016. Of particular interest is the year-over-year population change among U.S. metros, which helps shed some light on a few apartment market trends over the last year.
Among the 50 largest U.S. apartment markets as defined by RealPage’s Axiometrics, Austin had the largest population growth rate in 2016, at 2.9%. In fact, Austin has ranked #1 in terms of annual population growth since 2011. Raleigh and Orlando both grew about 2.5% between 2015 and 2016, followed by Charleston and Las Vegas (2.2%). One thing stands out quite clearly in the rankings above: the fastest-growing large apartment markets are southern or western metros.
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