As a developer, the new year brings exciting opportunities for project development. You may be in search of the perfect location to embark on your next venture. Are you considering the Southeast and Southwest regions of the United States? It’s natural to question whether these areas are becoming oversaturated. Read on and look closer to see whether you should avoid them or dive in headfirst.
According to U-Haul, these states had the largest influx of movers in 2023. Florida ranks right behind Texas among growth states for the third year in a row, followed by North Carolina, South Carolina, and Tennessee.
The Southern State
Texas emerged as the top destination for Americans relocating in 2023, occupying the coveted position as the No. 1 growth state for the sixth time in eight years. DIY movers contributed significantly to this trend, accounting for an impressive 50.4% of all one-way U-Haul traffic heading towards Texas.
The Sunshine State
According to U-Haul, the state known as the Sunshine State has been consistently ranked among the top growth states for nine consecutive years. While its position on the Growth Index has remained within the top four, the last time it was awarded the top spot was in 2019.
Did you know: Similar to Texas, Florida has no state income tax and none of the cities in the state charge a local income tax.
Developers | What To Do
As a developer, navigating the market dynamics and demand is crucial when seeking untapped opportunities for projects in Texas or Florida. To avoid oversaturated markets, it is ideal to analyze the states that offer lower saturation levels and explore alternative markets. Developers can identify favorable market conditions and capitalize on emerging trends, ultimately leading to successful and profitable projects.
BASE4 Is Here to Help!
We help developers, general contractors, and factories find better ways to build through innovative technology, forward-thinking design, and offsite manufacturing. Our primary focus is providing top-tier services to our clients to ensure seamless collaboration and unparalleled results.
BASE4: The GO-TO Firm for Optimal Design
We know we are in volatile times, where supply chain issues…
BASE4 is the right architecture and engineering firm for all your design needs. We perform all services in-house, including architecture, structural engineering, MEP engineering, interior design, 3D BIM visualization, and construction administration.
You need design partners who understand how to create an efficient and high-quality living space. With experience all over the country, our designers work with these goals in mind:
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Thank you,
Blair Hildahl
BASE4 Principal
608.304.5228
BlairH@base-4.com
