One thing is coming through loud and clear from PwC’s and the Urban Land Institute’s 2017 Emerging Trends in Real Estate survey for the United States and Canada: You can find opportunities in any of the markets, whether it is No. 1–ranked Austin or No. 78 Buffalo, N.Y. It all comes down to strategy, risk tolerance, return requirements and access to deals.

The top 78 markets included in the ranking are based on a 1–4 ranking, from the contributions of 30 focus groups directed by the ULI district council. The survey respondents identified U.S. real estate market trends, including the potential for faster economic growth, the perceived stability of core gateway markets and current pricing of assets in the market.

Among the metros with the fastest economic growth is Austin, which ranks as the top U.S. real estate market. Austin has seen a growing population base made up of an educated millennial-generation labor force. Because Austin