New Study Reveals Asian American Expansion Boom in the South, Impact on Local Housing Markets

The Asian American and Pacific Islanders (AAPI) community continues to grow quickly in the United States – especially in southern states – and is a boon for both business and real estate, according to a comprehensive study released on May 8.

The 2019 State of Asia America Report, created by the Asian Real Estate Association of America (AREAA) and co-presented by RE/MAX, examines demographic and homeownership data as well as AAPI entrepreneurship. The report also analyzes AAPI regional resettlement, noting that the South is the fastest-growing AAPI region in the country. Top states for relocation include Texas and Virginia, while North Carolina and Georgia saw the fastest growing AAPI populations.

“AAPIs have been relocating across the country, purchasing mortgage products and real estate at rates higher than other ethnic demographics,” said Tom Truong, President of AREAA, in the report.

Von Truong, an Associate with RE/MAX Premier in Frisco, Texas, adds that many AAPIs relocating to the South are looking to grow their families with an emphasis on education and child-rearing. “We have excellent schools, low cost of living, affordable housing, family-oriented neighborhoods and warmer climates.”

To learn more about the AAPI community and the important role it plays in the U.S. economy, download the 2019 State of Asia America Report or view the digital magazine.