NAR Announces Top Ten Commercial Real Estate Markets for 2021

Washington, DC, March 22, 2021-The National Association of Realtors identified the top ten 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 ten 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.