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Research - AUGUST 24, 2020

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Trepp ranks top 21 secondary metro areas

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The Austin metropolitan statistical area (MSA) is the highest-ranked secondary MSA for its commercial real estate investment potential, according to Trepp.

Austin was ranked first due to the high rate of population growth, low unemployment rate and a continued increase in new CMBS issuance. It was followed by San Jose, which reported low CMBS delinquency rates, low lodging and retail exposure, and a high average occupancy rate and weighted average debt-service coverage ratio (DSCR).

“The impact of the pandemic has been especially severe in the top-tier metropolitan areas, many of which had completely shut down businesses,” said Jyoti Yadav, Trepp research analyst. “While most secondary markets also saw a similar fate, some have fared better than others.”

The two lowest-ranking secondary MSAs were Cleveland and Minneapolis. The delinquency rate and unemployment rates recorded significantly high in both cases, while also having very low weighted average DS

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