If you’re interested in investing in opportunity zones – and who isn’t these days –you’ll want to take a look at a report released by Yardi on its Commercial Café blog. After reviewing employment, GDP, population growth and poverty rate statistics, along with the labor force and the number of eligible OZ sites within each area, the site compiled a list of the top counties for OZ investment.
Travis County, Texas ranked first on the list due to its strong fundamentals. This county’s population grew by 6.5% between 2014 and 2017, and 105 people move to the Austin metro area every day. There are 21 OZs in Travis County.
Sacramento and the District of Columbia rounded out the top three.
Other findings of the report include:
- Georgia, California and Texas selected the most number of distressed neighborhoods as OZs. Other states, however, used a provision in the law that allows them to include up to 5% of ineligible tracts into their OZ selection, provided that those areas are contiguous with an eligible tract and the median family income did not exceed certain limits. Some of these OZ selections were college campuses.
- In addition to Travis, three other Texas counties made the top 20.
- California and Texas had the highest number of OZs open to investors, with 679 and 628, respectively.
To read the full Commercial Café report, click here. For more information, use the contact information below.