Market rankings

53 U.S. multifamily markets, scored

Every metro scored 0 to 100 on demand, supply constraint, fundamentals, and momentum, built from public federal data and recomputed quarterly. The scorecards are free to read, metro by metro. The live ranked table lives in MultiScreen Pro.

Model 2025 vintage. Updated quarterly.

Does the model actually work?

We backtest it the way an allocator would: rewind to a past year, take the model's top-quartile markets as the buy list, let 3 real years pass, and measure actual rent growth against the bottom quartile. Rolling vintages from 2016 to 2022.

7 of 7
Vintages where the top quartile beat the bottom
+2.1pp
Extra rent growth per year, top vs bottom quartile
77%
Top-quartile picks that beat the median market
+11%
Cumulative edge over a 5-year hold at +2.1pp per year

Spread and hit rate are averages over the 5 normal vintages; the model also won both pandemic-era vintages. Read the full backtest, vintage by vintage.

The ranking moves when the data moves

Biggest re-ranks versus the prior model vintage. Where each metro sits now is in the Pro table; why it moved is on its scorecard.

One market, fully unlocked

Atlanta sits mid-table, so it makes an honest sample: here is the exact output Pro shows for every metro, published for this one market only.

C
Atlanta–Sandy Springs–Roswell, GA
Composite 49 / 100 · Rank #25 of 53 · ▲ up 7 spots vs prior vintage
  • Demand47.2
  • Supply constraint44.8
  • Fundamentals41.8
  • Momentum57.5
Also in the Pro tearsheet
  • Market rent trend, monthly (Zillow ZORI)
  • Score history by quarter
  • Market events and data signals feed
  • Scorecard detail: every model input, sortable across all metros
  • Employment, permits, migration, and home-price charts
  • The live ranked table, compare, watchlists, and PDF tearsheets

Every tracked metro, A to Z

Each scorecard is free to read: grade, rank band, category profile, risk flags, and the federal data behind them. The ranked order is Pro.

Common questions

How are these multifamily markets ranked?
Each metro receives a 0 to 100 composite score built from four weighted categories: demand, supply constraint, fundamentals, and momentum. The inputs are public federal data, including employment from the BLS Quarterly Census of Employment and Wages, population and migration from Census Population Estimates, building permits from the Census Building Permits Survey, and income migration from IRS Statistics of Income. Scores are recomputed quarterly.
What do the letter grades mean?
Grades are assigned on the composite score relative to the full set of tracked metros. An A grade places a market in the top tier, B in the upper tier, C in the broad middle, and D in the bottom tier. A grade describes the metro relative to other metros, not the quality of any individual property in it.
Where is the full ranked list?
The live table, all 53 metros ordered by composite score, is part of MultiScreen Pro, alongside rent-trend data, score history, market events, side-by-side compare, and quarterly snapshots. The free scorecards here publish each metro's grade, rank band, category profile, and the public federal data behind them. In backtesting to 2016, metros the model ranked in its top quartile went on to out-grow its bottom quartile in all 7 three-year vintages.
Can a market score well and still be a bad place to buy?
Yes. These scores describe metropolitan areas, and multifamily performance is driven substantially by submarket conditions that vary widely inside a single metro. A strong metro score is a reason to look, not a substitute for underwriting a specific property on its own rent roll, expense load, and business plan.

Want the live rankings, rent trends, and quarterly snapshots? See MultiMarket Pro

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