From market context to valuation to underwriting.从区域特征,到估值比对,再到投资测算。

Each step narrows what you are looking at: the city or submarket, then a value range on a single address, then the return under the assumptions you set yourself. The same three steps on either side. 每下一步,看的范围收窄一层:城市或子市场的整体走势,具体地址的估值区间,最后是你自己设定的那套假设。两条路都是同样三步。

Live — ready to use已上线 —— 现在就能用

Real estate follows population, and the region moves first. 房地产由人口驱动,区域走势先于单个物业。

146 cities, 2010 to 2025. Drag the timeline: bubble size is that year's population, bubble colour is that year's payment-to-income, and all four readings below move with it. 146 个城市,2010 至 2025 年。拖动时间轴:气泡大小是当年人口,颜色是当年的月供占收入,下面四个读数同步跟着变。
Population and Affordability by City 各城人口与可负担度

Cheaper than mostRegional medianPricierCircle size = population 比多数便宜全区中位更贵圆圈大小 = 人口

2025
Each figure is dated beside its label.每个数字的时点标在它的标签旁。
Growth since 2010较 2010 增长
—
Median income收入中位数
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Payment / income月供占收入
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Most vs least affordable quartile可负担度最好 vs 最差的四分位
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Note:注: Payment / income counts mortgaged sales only — all-cash sales never enter the median, and a quarter with fewer than 30 sales has no reading; a year averages whichever of its quarters do. Income is ACS (US Census); prices, rates and sale counts are SGS. Each city has three measured income points — 2012, 2017 and 2022 — and a year written with ~ is derived from the two around it at a constant rate. Income is surveyed over five years, so it moves more smoothly than the prices divided into it. 月供占收入只统计有贷款的成交,全现金成交不进中位数;一个季度成交少于 30 笔就没有读数,年值取该年有读数的季度的平均。收入来自 ACS(美国人口普查),价格、利率与成交笔数来自 SGS。每个城市的收入只有三个实测点 —— 2012、2017、2022 —— 年份前带 ~ 的,是由相邻两个实测点按固定增速推算的。收入是五年期调查,因此比与它相除的价格平滑。

Source: SGS Market Database; income from US Census ACS 来源:SGS Market Database;收入来自 US Census ACS

Population against 2010 相对 2010 年的人口

Each county indexed to 100. 每个郡以 100 为基准。

Note:注: County population, 2010–2025 — — 郡人口 2010–2025 —— —

2025

Source: SGS Market Database 来源:SGS Market Database

Background reading: Los Angeles CRE — a $1 trillion market at a crossroads, on the population and affordability numbers behind this map. 延伸阅读:洛杉矶商业地产 —— 万亿美元市场的十字路口,讲的是这张地图背后的人口与可负担数字。

Disclosures.免责声明。 Estimates and metrics are statistical model output from public and aggregated market data — not a formal appraisal, broker price opinion, or investment advice. 估值与各项指标均为基于公开及汇总市场数据的统计模型输出 —— 不构成正式估价、经纪人价格意见或投资建议。