Individual Investing Blog

The 5 Best and Worst Markets in Job Growth

Written by Ellie Perlman | Mar 21, 2022 4:00:00 AM
Job growth is looking positive, and some significant milestones have recently been achieved. The Labor Department reported that the unemployment rate fell to 3.8% in February, the lowest we’ve seen since the pandemic began. In addition, US employers added in 678,000 jobs. Demand for employees has been high, and it appears the workforce is now rebounding and rising to the call. This is a critical factor for real estate investors, as the workforce is generally the tenant base for multifamily housing; with a strengthening workforce, landlords can now begin to collect on past rents, help bring tenants current, and return to stabilizing their properties.
 

Which markets are seeing the most progress, and which are still struggling?

The 5 States with the Highest Job Growth: 

5. Atlanta, GA
 
  • Year Over Year Job Growth: 5.1%
  • Year Over Year Rent Growth: 19.7%
  • Percentage of Renters: 20.7%
 
4. Miami, FL  
  • Year Over Year Job Growth: 5.2%
  • Year Over Year Rent Growth: 27%
  • Percentage of Renters: 28.69%
 
3. Phoenix, AZ  
  • Year Over Year Job Growth: 6.2%
  • Year Over Year Rent Growth: 25.4%
  • Percentage of Renters: 21%
 
2. Orlando, FL
  •  Year Over Year Job Growth: 6.7%
  • Year Over Year Rent Growth: 25.9%
  • Percentage of Renters: 25.27%
 
1. Austin, TX
  •  Year Over Year Job Growth: 7.3%
  • Year Over Year Rent Growth: 22.2%
  • Percentage of Renters: 19.67%
 
 

The 5 States with the Lowest Job Growth:

 
5. Kansas City, KS
  •  Year Over Year Job Growth: 4.4%
  • Year Over Year Rent Growth: 8.1%
  • Percentage of Renters: 16.66%
 
4. Philadelphia, PA
  •  Year Over Year Job Growth: 4.2%
  • Year Over Year Rent Growth: 11.9%
  • Percentage of Renters: 18.71%
 
3. Washington DC
  •  Year Over Year Job Growth: 4.2%
  • Year Over Year Rent Growth: 12.2%
  • Percentage of Renters: 19.40%
 
2. Twin Cites, MN
  •  Year Over Year Job Growth: 3.9%
  • Year Over Year Rent Growth: 5.3%
  • Percentage of Renters: 16.40%
 
1. Indianapolis, IN
  •  Year Over Year Job Growth: 2.7%
  • Year Over Year Rent Growth: 12.9%
  • Percentage of Renters: 17.89%
 
 
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About Ellie Perlman

Ellie Perlman is the founder and CEO of Blue Lake Capital, a woman owned multifamily real estate investment firm focused on partnering with family offices and accredited investors to build and preserve generational wealth. Since its founding in 2017, Blue Lake has successfully acquired and operated multifamily assets across high-growth U.S. markets, completing $1B+ in transactions.

At Blue Lake Capital, Ellie and her team work exclusively with family offices and accredited investors, offering carefully curated investment opportunities that emphasize long-term wealth creation, stability, and risk-adjusted returns. A defining aspect of Blue Lake’s investment strategy is its integration of advanced AI-driven analytics and data science into the entire lifecycle of acquisitions and asset management. By leveraging cutting-edge technology, the firm executes data-driven forecasting on market trends, asset performance, and tenant behavior, ensuring strategic decision-making and optimized returns.

In addition to leading Blue Lake Capital, Ellie is the original founder and host of "REady2Scale - Real Estate Investing" podcast, which provides insights into multifamily real estate, alternative investments, and finance.

Ellie began her career as a commercial real estate attorney, structuring and negotiating complex transactions for one of Israel’s leading development firms. She later transitioned into property management, overseeing over $100M in assets for Israel’s largest energy company.

Ellie holds a Master’s in Law from Bar-Ilan University in Israel and an MBA from MIT Sloan School of Management.

You can learn more about Blue Lake Capital and Ellie Perlman at www.bluelake-capital.com. 

*The content provided on this website, including all downloadable resources, is for informational purposes only and should not be interpreted as financial advice. Furthermore, this material does not constitute an offer to sell or a solicitation of an offer to buy any securities.

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