--- title: Why Secondary Markets Are Now the Primary Opportunity for Advisors description: Explore why secondary real estate markets like Phoenix are gaining traction for their growth potential, affordability, and migration trends. Learn about Rincon Multifamily Fund II's strategic positioning. image: https://blog.rinconpartners.com/hubfs/53783%20Rincon%20Blog%2034%20-%20%201200x630%20Linkedin@2x.png --- [![Logo](https://blog.rinconpartners.com/hs-fs/hubfs/Rincon_assets/images/Logo.png?width=161&height=78&name=Logo.png "Logo")](https://prodrc.wpengine.com/) [![Logo-2](https://blog.rinconpartners.com/hs-fs/hubfs/Rincon_assets/images/Logo-2.png?width=161&height=78&name=Logo-2.png "Logo-2")](https://prodrc.wpengine.com/) - [Home](https://rinconpartners.com) - [About Rincon](https://rinconpartners.com/about-rincon/) - [Investment Strategies](https://rinconpartners.com/investment-strategies/) - [Portfolio](https://rinconpartners.com/portfolio/) - [News & Insights](https://blog.rinconpartners.com) - [Contact](https://rinconpartners.com/contact/) - [Home](https://rinconpartners.com) - [About Rincon](https://rinconpartners.com/about-rincon/) - [Investment Strategies](https://rinconpartners.com/investment-strategies/) - [Portfolio](https://rinconpartners.com/portfolio/) - [News & Insights](https://blog.rinconpartners.com) - [Contact](https://rinconpartners.com/contact/)    0  comments  17, July The definition of “core” real estate markets is shifting. While gateway cities still attract capital, more sponsors are targeting secondary metros for their growth potential, affordability, and migration trends. For advisors, understanding why these markets are gaining traction can inform both risk assessments and return expectations. Migration and Job Growth Are Redrawing the Map In recent years, markets like Raleigh, Tucson, Charleston, Savannah—and notably, Phoenix—have seen sustained population growth and employer migration. Phoenix, in particular, has emerged as a hub for logistics, manufacturing, and tech-adjacent industries, supported by investment in infrastructure and workforce development. ![53783 Rincon Blog 34 - TBD graphic 1](https://blog.rinconpartners.com/hs-fs/hubfs/53783%20Rincon%20Blog%2034%20-%20TBD%20graphic%201.png?width=4708&height=1530&name=53783%20Rincon%20Blog%2034%20-%20TBD%20graphic%201.png) **Affordability Creates Room for Resilience** Compared to major cities, many secondary markets offer more favorable rent-to-income ratios. This can provide a buffer during periods of economic volatility and may contribute to longer tenant retention or more consistent absorption in lease-up phases. Rincon’s underwriting framework, as implemented in the Fund, considers affordability metrics as a core input—both to help assess rent growth potential and to calibrate renovation scopes in line with local demand and income levels. **Scale and Efficiency in the Fund’s Execution Model** **![53783 Rincon Blog 34 - TBD graphic 2](https://blog.rinconpartners.com/hs-fs/hubfs/53783%20Rincon%20Blog%2034%20-%20TBD%20graphic%202.png?width=4708&height=1938&name=53783%20Rincon%20Blog%2034%20-%20TBD%20graphic%202.png)** **Key Takeaway for Advisors** Advisors have an opportunity to lead client conversations as real estate market dynamics evolve. Rincon Multifamily Fund II provides access to a portfolio of assets in secondary metros where structural tailwinds may support long-term income and value. Understanding why the Fund is positioned in these markets can help advisors deliver a more informed perspective when discussing real estate allocations with clients. **Learn more about Rincon Multifamily Fund II and how our approach to market selection supports a resilient, income-focused portfolio. 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