Key Features

Location Dynamism Signals are computed in a disciplined, multi-stage process that transforms a vast collection of raw data into a coherent and predictive set of signals:

• Data integration and standardization: We solve the problem of "inconsistent market data" by ingesting information from dozens of public and private sources. Our data engineering platform systematically cleans, validates, and standardizes these disparate sources, mapping all data to a consistent and granular resolution. This creates a unified dataset where every location can be compared on a true like-for-like basis.

• Intelligent feature engineering: We transform raw data into more meaningful variables that better represent underlying market patterns. For example, instead of just using raw rent and income data, we engineer the RENT_TO_INCOME_RATIO to give the model a direct measure of affordability, which is more predictive of market sustainability.

• Proprietary data: The final component of our advantage comes from unique, proprietary datasets that are not available from any other source. This allows our model to capture emerging trends and risks that others cannot see, such as our Resilience-Adjusted Climate Risk Score (OVERALL_RAJ_SCORE) and Forward-Looking Growth Indicators (FUTURE_POP_GROWTH, GREENFIELD_INVESTMENT), as well as realtime datasets tracking data centers, micro-grids, EV charging stations, land slated for privatization and other indicators of market momentum.

Residential Dynamism Signal – Feature Composition

The Residential Dynamism Signal provides a comprehensive measure of a location's attractiveness as a place to live, built around four key indicators.

• Economic vitality: A vibrant local economy is the primary engine of residential demand. We measure this through job, population, and income growth rates, affordability metrics, and the rate of new business formation.

• Livability: While economic opportunity draws people to an area, quality of life determines where they choose to live. This indicator quantifies the desirability of a neighborhood through education levels, health outcomes, and access to amenities.

• Market performance: This indicator provides a real-time barometer of the local real estate market, measuring transactional activity and the balance of supply and demand through metrics like price appreciation, days on market, and sale-to-list price ratios.

• Growth potential: This indicator provides a forward-looking perspective, assessing the factors that will shape a market's future trajectory, including residential building permits, proprietary long-term population projections, and our resilience-adjusted climate risk score.

Indicator	Feature	Description
Economic Vitality	Population growth rate	Annual rate of population growth at census tract level. A higher rate of growth indicates stronger demand in the market.
Economic Vitality	Job growth rate	Annual rate of job growth. A higher rate of growth indicates stronger demand in the market.
Economic Vitality	Income growth rate	Annual rate of income growth at census tract level. A higher rate of growth indicates stronger demand in the market.
Economic Vitality	Rent as percentage of income	Measures average rental cost as a percentage of per capita income. A lower percentage indicates higher affordability. A higher percentage indicates higher housing demand.
Economic Vitality	Housing to income ratio	Measures housing affordability by comparing the median house price to the median household income. A lower value indicates higher affordability. A higher value indicates higher housing demand.
Economic Vitality	Annual change in business esabilishments	Net annual change in business estabilishments calculated from new business registrations and closures. A positive rate of change indicates a growing local economy.
Livability	Education attainment	Percentage of population with bachelor's degree or higher. Higher education attainment correlates to higher income, lower crime, and livability.
Livability	Health index	Access to health infrastructure and healthiness of the local population, measured by aggregating disease prevalence, access to hospitals, and insurance peneration. A higher index score indicates better healthcare quality.
Livability	Amenity and walkability index	Measures the walkability of the neighbourhood, access to amenities, and commuter distance to work. More amenities and walkability increases the desirability of a location.
Livability	Social mobility	Ratio of household income change (for bottom 25th percentile) to HPI change (base year 2000). Lower values indicate decreasing social mobility.
Livability	Unhealthy air quality	Days per year with Air Quality Index (AQI) above 100. Population groups with sensitivities such as heart or lung conditions may experience health effects and the general public should limit outdoor activity.
Market Performance	Year-on-year price appreciation	Average yearly rate of appreciation of residential properties in the area.
Market Performance	Average days on market	Average number of days the residential property has been on the market, with a higher number negatively correlating to transaction value.
Market Performance	Ratio of sold price to list price	A ratio of higher than 1 indicates a market in high demand.
Market Performance	Percentage of listings sold above list price	A higher percentage indicates a stronger market with more listings sold above list price.
Market Performance	El Niño Southern Oscillation (ENSO) impact	ENSO-driven impact on HPI performance (2015-2023). Seven-tier categorical scoring with Low Minus indicating locations least sensitive to ENSO impact, and High Plus indicating locations with the highest sensitivity.
Market Performance	P(CD): Probability of climate default	Likelihood of increase in mortgage delinquency due to physical climate risks compounding existing economic fragility between the present and 2050.
Growth Potential	Residential building permits	Number of residential building permits issued in a year, with higher number of issued permits indicating rising supply.
Growth Potential	Projected population change by 2050	Long term population change by 2050 factoring historic population trends including demographics, migration and climate risk variables. A higher growth rate indicates a sustained demand.
Growth Potential	Climate Risk	Resilience-adjusted climate risk score. Lower values indicate lower risk, suggesting increasing in-migration and long-term real estate market demand.
Growth Potential	EV charging stations	Number of EV charging stations in the ZIP code.
Growth Potential	Potential federal land privatization	Percentage of federally owned land eligible for privatization and suitable for residential real estate development.

Commercial Dynamism Signal – Feature Composition

The Commercial Dynamism Signal measures the forces that drive demand for office and retail real estate, deconstructed into four essential indicators.

• Economic Vitality: A growing population with disposable income forms the customer base for retail, while a dynamic business environment fuels demand for office space.

• Location Value: This indicator quantifies the intrinsic, place-based attributes that make an area a valuable hub for commerce, such as population density, foot traffic, and walkability.

• Market Performance: This indicator assesses the financial health and transactional velocity of the local commercial real estate market through rental/NOI growth, occupancy rates, and transaction volumes.

• Growth Potential: This forward-looking indicator assesses the pipeline of future demand, using residential construction as a proxy for future retail customers and leveraging our proprietary long-term population and climate risk forecasts.

Economic Vitality	Income growth rate	Annual rate of income growth at census tract level. A higher rate of growth indicates stronger demand in the market.
Economic Vitality	Population growth rate	Annual rate of population growth at census tract level. A higher rate of growth indicates stronger demand in the market.
Economic Vitality	Job growth rate	Annual rate of job growth. Higher rate of job growth indicates higher spending and consumption.
Economic Vitality	Annual change in business establishments	Net annual change in business establishments calculated from new business registrations and closures. A positive rate of change indicates a growing local economy.
Location Value	Population density	Number of people per acre. Higher population density indicates increased demand and location value.
Location Value	Pedestrian and commuter traffic	An indexed score from the EPA calculated from the frequency of transits on foot, vehicles, and public transport. Higher traffic indicates increased demand and location value.
Location Value	Amenity and walkability index	Measures the walkability of the neighbourhood, access to amenities, and commuter distance to work. Better amenities and walkability increases the desirability of the location.
Market Performance	Rental growth rate	Annual growth in rental income of office and retail assets in this market. A higher growth rate indicates higher demand.
Market Performance	NOI growth rate	Annual growth in Net Operating Income of office and retail assets in this market. A higher growth rate indicates higher demand.
Market Performance	Occupancy rate	Average occupancy rate of commercial properties in the market. A higher occupancy rate indicates higher demand.
Market Performance	Price per square foot	Average weighted market value per square feet for office and retail assets in this market.
Market Performance	Property transactions	Number of property transactions in the last quarter. A higher number of transactions indicates a desirable market.
Growth Potential	Units planned and under construction	Number of residential building permits issued in the prior year. A higher number indicates rising demand for office and retail assets.
Growth Potential	Projected population change by 2050	Long term population change by 2050 factoring historic population trends including demographics, migration and climate risk variables. A higher growth rate indicates a sustained demand.
Growth Potential	Climate risk	Resilience-adjusted climate risk score. Lower values indicate lower risk, correlating to increasing in-migration and long-term real estate market demand.
Growth Potential	Venture capital investment	Amount of venture capital invested in the city in 2024. (Only top 25 cities qualify.)

Industrial Dynamism Signal – Feature Composition

The Industrial Dynamism Signal identifies locations optimally configured for logistics, manufacturing, and data infrastructure, constructed around four key indicators.

• Logistics: This indicator measures the quality of physical infrastructure that enables the efficient movement of goods, including highway, rail, and air connectivity, as well as energy resilience through micro-grid capacity.

• Workforce Accessibility: This indicator assesses the health, size, and suitability of the local labor market for industrial employers.

• Operational Efficiency: This indicator quantifies key input costs and infrastructure quality factors that directly impact an industrial tenant's profitability, such as electricity rates, grid reliability, and internet speed.

• Growth Potential: This indicator identifies signals of future industrial expansion and innovation through our proprietary greenfield investment tracker, local patent activity, and our long-term climate risk score.

Indicator	Feature	Description
Logistics	Highway endpoint density	Number of highway endpoints within proximity of each census tract. A higher density indicates higher connectivity of the region.
Logistics	Rail nodes density	Rail nodes within proximity of each census tract. A higher density indicates higher connectivity of the region.
Logistics	Airport density	Number of ports within proximity of each census tract. A higher density indicates higher connectivity of the region.
Logistics	Truck stop density	Number of truck stops within proximity of each census tract. A higher density indicates higher connectivity of the region.
Logistics	Micro-grid capacity	Total capacity of local micro-grids in kW. A higher capacity enhances local resilience to black-outs.
Workforce Accessibility	Education attainment	Percentage of population with bachelor's degree or higher. Higher education attainment correlates to better access to skilled workforce.
Workforce Accessibility	Unemployment rate	Lower unemployment generally indicates economic growth which fuels more demand for production in the industrial sector.
Workforce Accessibility	Manufacturing employment	Total number of eligible workers across all sectors. A higher number indicates strong production capacity.
Workforce Accessibility	Workforce population	Total number of eligible workers across all sectors.
Operational Efficiency	Electricity price	Average electricity rate in the state. A lower rate indicates lower operational expense.
Operational Efficiency	Energy generation	Total energy generation in the state. Higher power generation indicates lower rates and increased resilience to blackouts.
Operational Efficiency	Energy grid interruptions	Calculated from Customer Average Interruption Duration Index (CAIDI). A lower number indicates higher grid reliability.
Operational Efficiency	Internet speed	Internet speed of local broadband. A higher internet speed indicates better connectivity and reliability to support internet-related activities such as data centers.
Operational Efficiency	Land cost per acre	Cost of land per acre in the census tract. A lower cost of land indicates higher supply and lower demand.
Growth Potential	Greenfield investment	Cumulative value of new corporate investment by county since 2022. Higher value indicates growth momentum.
Growth Potential	Climate risk	Resilience-adjusted climate risk score. Lower values indicate lower risk, correlating to increasing in-migration and long-term real estate market demand.
Growth Potential	Patents per capita	Total number of patents per capita in 2020. Higher patent output is a proxy for the innovation potential of the market.
Growth Potential	Data centers	Total number of data centers in a 50km radius; includes data center that are currently under construction.