Multi family Market Metrics due diligence in new markets
When going into a new market what are some of the biggest market metrics you look for in regards to smaller scale MF development (5-25units). Pop. Growth? Certain age groups? Certain Anchor tenants close by?

I’ve been in HRE and C-Stores and really just curious what metrics you guys/gals use. 

Sorry for wonky title. The 50character limit had me digging for other buzz words.
[{"id": "i4focgx", "text": "I'm not deeply involved in this space but population and job growth are generally the biggest macro metrics.  Big multifamily developers often have fancy complex models estimating rent and rent growth and occupancy and etc.\n\nBut for smaller investors there's a much better metric which is \"how much are other people charging nearby?\"  Obviously you want to be cognizant of unit specifics--do you have central A/C, do you have nice appliances or big windows or whatever.  But if two bedroom units are going for $2k/month down the street, yours are going to get you around the same amount.", "replies": [], "depth": 1}, {"id": "i4iiunj", "text": "I would look for population growth, market wide vacancy levels, universities and/or employment opportunities. Definitely check the average household income, as it will help to gauge if your rents will fare well", "replies": [], "depth": 1}]