You know me. I always find opportunities when people are complaining and thinking small. So while most people fear inflation, I use it to look for top multifamily markets to potentially create wealth…

And I’m not kidding when I tell you – I’ve been seeing a TON of them while shooting my new TV show, “Real Estate King”.

So I’m excited to tell you more about:

  • How to assess the MOST competitive rental markets in the U.S.
  • The TOP 20 multifamily markets I would invest in this year
  • What YOU can do today to educate yourself further and find life-changing deals

Why You NEED to Know the Market

Last year, I got a phone call from a seller saying, “Hey man, can you buy this property in Fargo, North Dakota?

It’s a brand new building and it’s going to pay you 25% a year.” 

“Sounds like I’ll have all my money back in 4 years. That’s cool,” I told him. “But you’ll never be able to sell the property.”


No offense to any of you out there in Fargo, but as soon as they pull the gas jobs… that place will be empty again.

This is why you HAVE to know where the great markets and assets are.

Always do your own research and due diligence, and don’t fall for any old get-rich-quick scheme that comes your way.


When looking for GREAT markets to invest in, some criteria I would look at include:

  1. How many days were rentals typically vacant in this market? The fewer, the better.
  2. What are the typical occupancy rates in this market? You’re looking for high percentages here, like 97%.
  3. On average, how many prospective renters are competing for one apartment unit in this market? More competition = higher demand and more potential tenants for you to work with.
  4. What is the typical percentage of renters renewing their leases in this market? In other words, how high is the lease renewal rate?
  5. What percentage of apartments in the city are newly completed apartments? And even with newly built apartments, is the market keeping up with renter demand?

Top 20 Multifamily Markets of 2022

According to RentCafe, these are the top most competitive multifamily markets out there as of July 2022, ranked in order of competitiveness:

RankLocationAverage Vacant DaysOccupancy RateProspective RentersLease Renewal RateShare of New Apartments
1Miami-Dade County, Florida2797.6%3175%1.8%
2Harrisburg, Pennsylvania3696.7%1975%0.0%
3Orlando, Florida3097.0%2273%1.5%
4South West Florida, Florida3096.8%2072%0.9%
5North Jersey, New Jersey3597.1%2174%0.9%
6Grand Rapids, Michigan3296.8%1869%0.3%
7Rochester, New York3996.5%1874%0.2%
8Central Jersey, New Jersey4597.1%1783%0.5%
9Milwaukee, Wisconsin3496.3%1969%0.1%
10Broward County, Florida3696.4%1969%0.5%
11Orange County, California3197.5%2061%0.2%
12Tampa, Florida3496.1%1770%0.8%
13Omaha, Nebraska2996.7%1763%0.9%
14Central Valley, California3397.6%1649%0.0%
15Suburban Chicago, Illinois3995.8%1868%0.3%
16San Diego, California3197.2%2452%0.7%
17Suburban Philadelphia, Philadelphia4295.8%1478%0.3%
18Eastern Virginia, Virginia3096.0%1662%0.5%
19Inland Empire, California3797.0%2153%0.1%
20Eastern Los Angeles County, California3597.5%2741%0.7%
Source: Grecu, V. (2022, June 27). The most competitive rental markets in 2022

There Are Deals in Your Backyard Right Now

As I like to say – there are deals to be had in every backyard, in every stage of the economic cycle.

Here’s how you can do more market research on your own for free:

  1. Check out FREE websites for property listings to get a sense of rents, vacancy rates, and other useful information about your target market/location. Try and
  2. Look at HISTORICAL data, such as historical rent values by zip code or even rent values by number of bedrooms in different markets across the country. You can use sites such as Zillow and Zumper.
  3. Read REPORTS published by big brokerage firms like CBRE, JLL, and Cushman & Wakefield. You can search their websites for free quarterly, semi-annual, or annual market reports for multifamily.

This should inspire you to keep your fingers on the pulse of your ideal markets… and never stop looking for your first (or next) life-changing deal.

Remember, there is no failure unless you quit.

Be Great,

Grant Cardone

* Disclaimer: This content is intended to be used for educational and informational purposes only. Before investing, you should always do your own analysis based on your own financial and personal circumstances before making any investment. Grant Cardone is an industry expert who has been investing for over 30 years and his opinion is based solely on his own personal experience and circumstances. Individual results may vary. You should perform your own due diligence and seek the advice from a professional to verify any information on our website or materials that you are relying upon if you choose to make an investment. Investment involves great risk and there is no guarantee of performance or results.

We are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content presented should not be taken as professional advice. We recommend seeking the advice of a financial professional before you invest, and we accept no liability whatsoever for any loss or damage you may incur.

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Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.