By Christopher Miller, MBA
Specialized Wealth Management
June 1, 2022
I have been helping my clients make real estate investments for 20 years now. I think that a big part of our success comes from buying in the right areas. I prefer to invest in growing metropolitan areas because I think that a growing population – and therefore growing pool of renters for our apartments and shoppers at our tenants’ stores, gives us as investors the best chance at success.
How Do We Find Growing Areas?
I spend a lot of time reviewing the government’s US Census results. This data tells me that the US population grew by 7.5%, or at a 0.7% annual rate, between 2010 and 2021. As of the 2020 Census; the US population was 331,449,281, so our country – through immigration and births – is gaining an additional 2,320,144 residents on an annual basis. That’s roughly the population of the Orlando, Florida metro area. So: this data tells us that we will need to build the equivalent of the Orlando, Florida metro area every year in the United States to give all these new residents somewhere to live, work and shop.