2018 Population Growth Favors the Intermountain West
Written by Brent Carnduff | January 17, 2019
According to the most recent United States Census Bureau, the overall population of the United States grew by 0.6 percent during the year ending July 1st, 2018.
However, when you look at the data state-by-state, there are definitely winners and losers within the U.S. economy.
Idaho and Nevada were the two fastest growing states this past year when measured by percentage population growth, both populations increased by about 2.1 percent. The following are the Top 10 fasting growing states:
- Idaho 2.1%
- Nevada 2.1%
- Utah 1.9%
- Arizona 1.7%
- Florida 1.5%
- Washington 1.5%
- Colorado 1.4%
- Texas 1.3%
- South Carolina 1.3%
- North Carolina 1.1%
The top four, and six out of the top seven fastest-growing states are within our targeted regions, reinforcing our narrow geographical approach to investing in commercial real estate.
A growing population means greater demand for local products and services, which in turn leads to new businesses opening and existing businesses investing in hiring new employees, increasing demand for commercial and residential real estate.
It is one of the macro-economic factors we consider when evaluating where we want to deploy our capital and has contributed to our long-term focus on the Intermountain West and Pacific Northwest regions of the country.
Alturas Capital Partners is a Boise, Idaho based commercial real estate investment company and manager of the Alturas Real Estate Fund. The company actively invests in office, industrial, retail, and multi-family properties with a focus on the Pacific Northwest and Intermountain West. Alturas owns properties in Idaho, Washington, Colorado, Utah and Arizona. Since 2009, the firm has made investments valued at over $250 million and is actively seeking to acquire additional assets in the Western United States.