The National Association of Realtors® (NAR) has released its list of the top 10 commercial real estate markets for 2021. In alphabetical order, the markets are:
- Austin-Round Rock, Texas
- Cape Coral-Fort Myers, Florida
- Charleston-North Charleston, South Carolina
- Las Vegas- Henderson-Paradise, Nevada
- Nashville-Davidson-Murfreesboro-Franklin, Tennessee
- Phoenix-Mesa-Scottsdale, Arizona
- Raleigh, North Carolina
- Salt Lake City, Utah
- Seattle-Tacoma-Bellevue, Washington
- Tucson, Arizona
“The top commercial real estate markets that are expected to outperform the rest of the nation are generally affordable and able to draw new residents with a greater flexibility to work from home,” said NAR’s Chief Economist Lawrence Yun. “These growing markets also offer much lower office and retail rents and are, therefore, able to attract new and expanding businesses.”
NAR selected the top 10 markets after considering 25 indicators on an area’s economic, demographic, housing and commercial market conditions in the multifamily, office, industrial, retail and hotel property sectors. Some of the indicators included GDP growth, unemployment rate, median household income, consumer spending, number of business openings, population growth, homeownership rate, rental vacancy rate, building permits and apartment rent, among other variables.
To view NAR’s Top 10 Commercial Real Estate Markets report, visit https://www.nar.realtor/research-and-statistics/research-reports/commercial-real-estate-local-market-reports.