Best Multifamily Demographics Research Software

CRE folks,

 

My shop is looking to beef up its multifamily research to figure out which of our markets we will target more heavily over the next 2-3 years. We are really trying to nail down future multifamily housing demand as I suspect a lot of our markets are either oversupplied or growing at an unsustainable rate. Which research platforms are best for forecasting future demand and also demographic data (population, income, age etc.)? Currently, we only use CoStar and it is quite lacking in that department.   

 

Thanks

Comments (12)

 
Dec 29, 2020 - 5:03pm

ESRI is great for demographic stuff, and the US Census itself has a lot of great data, I think you can get down to the zip code level. Axiometrics and Real Capital Analytics are both good tools for market data.

 
Dec 30, 2020 - 8:39am

It depends on how granular you are looking for demographics, if you want micro level data you need something like Esri Business analyst, or compile data yourself from the us census bureau.

 

if you are looking at full metros, moodys economy has metro level demographics with forecasts, Oxford economics has similar data.

 

for supply forecasts I am not sure you will get much better than costar. For the first few years they are just using their data on under construction projects, if you are familiar with the market or have guys on the ground there, you can check their list and make it more accurate. Costar often lists projects as under construction or planned, but aren't really going anywhere anytime soon.

 
Dec 30, 2020 - 10:44am

If you just want high level MSA stuff, you can get tons for free from gov't websites, look at BLS, Census, HUD USER, FRED, and others. 

ESRI Business Analyst will give you forecasts and more proprietary data that can be localized (from State/MSA down to census block group). For multifamily, their tapestry segmentation product is very cool. 

Still, getting the "free" stuff isn't as easy as the ESRI interface makes it, but it really isn't that hard (just deal with shitty gov't websites). 

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