Sixty West Funds Targets $945M in Opportunity Zone Projects in 4 Cities Attracting Both Residents & Investors in 2019

Metropolitan statistical area: Atlanta-Sandy Springs-Roswell, GA
Population: 486,290 – 38ᵗʰ largest U.S. city (Wikipedia – 2017 estimate)
5-year projected population growth: 1.3% (PwC, 2018 – U.S. average is 0.7%)
Median age: 33 years old (City Data, 2016 – U.S. median is 38)
Median household income: $53,843 (City Data, 2016 – U.S. median was $57,617)
5-year projected employment growth: 1.0% (PwC, 2018 – U.S. average is 0.6%)
Cost of living index: 98.7 (City Data, 2016 – U.S. average is 100)
Rent-to-household-income ratio: 22.1% (PwC – less than 30% is ideal)
Median 1-bedroom rent: $1029 (Rentonomics, 2018 – U.S. median is $743)
Year-over-year rent growth: 1.5% (Rentonomics, 2018 – U.S. average is 1.5%)
Median single-family home sale price: $224,100 (NAR, Q3 2018 – U.S. median is $266,900)
Year-over-year home sale price growth: 9.7% (NAR, Q3 2018 – U.S. median is 4.8%)

Metropolitan statistical area: Phoenix-Mesa-Scottsdale, AZ
Population: 1,626,078 – 3^rd largest U.S. city (Wikipedia – 2017 estimate)
5-year projected population growth: 1.6% (PwC, 2018 – U.S. average is 0.7%)
Median age: 33.4 years old (City Data, 2016 – U.S. median is 38)
Median household income: $52,062 (City Data, 2016 – U.S. median was $57,617)
5-year projected employment growth: 1.6% (PwC, 2018 – U.S. average is 0.6%)
Cost of living index: 93.7 (City Data, 2016 – U.S. average is 100)
Rent-to-household-income ratio: 20.2% (PwC, 2018 – less than 30% is ideal)
Median 1-bedroom rent: $846 (Rentonomics, 2018 – U.S. median is $743)
Year-over-year rent growth: 3.0% (Rentonomics, 2018 – U.S. average is 1.5%)
Median single-family home sale price: $272,700 (NAR, Q3 2018 – U.S. median is $266,900)
Year-over-year home sale price growth: 9.6% (NAR, Q3 2018 – U.S. median is 4.8%)

Metropolitan statistical area: Salt Lake City, UT
Population: 200,544 – 116ᵗʰ largest U.S. city (Wikipedia – 2017 estimate)
5-year projected population growth: 1.4% (PwC, 2018 – U.S. average is 0.7%)
Median age: 32.7 years old (City Data, 2016 – U.S. median is 38)
Median household income: $56,994 (City Data, 2016 – U.S. median was $57,617)
5-year projected employment growth: 1.4% (PwC, 2018 – U.S. average is 0.6%)
Cost of living index: 92.4 (City Data, 2016 – U.S. average is 100)
Rent-to-household-income ratio: 17.2% (PwC, 2018 – less than 30% is ideal)
Median 1-bedroom rent: $860 (Rentonomics, 2018 – U.S. median is $743)
Year-over-year rent growth: 1.6% (Rentonomics, 2018 – U.S. average is 1.5%)
Median single-family home sale price: $322,300 (NAR, Q3 2018 – U.S. median is $266,900)
Year-over-year home sale price growth: 9.4% (NAR, Q3 2018 – U.S. median is 4.8%)
Multifamily property buy/hold/sell recommendations: 61% of investors say buy, 29% say hold, 11% say sell (PwC/ULI)

Metropolitan statistical area: Seattle-Tacoma-Bellevue, WA
Population: 724,745 – 18ᵗʰ largest U.S. city (Wikipedia – 2017 estimate)
5-year projected population growth: 1.1% (PwC, 2018 – U.S. average is 0.7%)
Median age: 35.5 years old (City Data, 2016 – U.S. median is 38)
Median household income: $83,476 (City Data, 2016 – U.S. median was $57,617)
5-year projected employment growth: 0.9% (PwC, 2018 – U.S. average is 0.6%)
Cost of living index: 121.6 (City Data, 2016 – U.S. average is 100)
Rent-to-household-income ratio: 24.8% (PwC, 2018 – less than 30% is ideal)
Median 1-bedroom rent: $1337 (Rentonomics, 2018 – U.S. median is $743)
Year-over-year rent growth: -1.3% (Rentonomics, 2018 – U.S. average is 1.5%)
Median single-family home sale price: $502,800 (NAR, Q3 2018 – U.S. median is $266,900)
Year-over-year home sale price growth: 5.1% (NAR, Q3 2018 – U.S. median is 4.8%)

Read the full Buildium article HERE.

Learn more about Sixty West Funds targeted properties and cities HERE.