5 Markets to Watch in 2027

‍Ahead of the Pack in Retail and Dining

Our five metros for this year’s short list – Stockton (CA), Phoenix (AZ), Boise (ID), Nashville (TN), and Ocala (FL) – stand out for consumer momentum going into 2027. All five metro areas saw their populations increase by more than the average U.S. metro between 2024 and 2025, and their year-over-year (YoY) retail and dining traffic trends are outpacing the nationwide average.  

Stockton, CA – A Bay Area Alternative Near the AI Boom

The Stockton-Lodi metro has long been home to Bay Area workers, many commuting over the Altamont Pass to the East Bay and Silicon Valley. And with tech employers like Nvidia expanding in Silicon Valley – and an AI boom supporting a regional return-to-office – Stockton could attract more households looking to pair Bay Area paychecks with a lower cost of living.

A Magnet for Professionals and Families

Stockton is already a natural landing spot for households looking for more space, affordability, and a slower pace outside the Bay Area’s largest cities. Audience segmentation for the trade areas of essential retailers – which nearly every household visits – offers a profile of the local consumer. 

Between October 2025 and September 2026, households with children made up 29.0% of households in Stockton’s essential-retail trade areas, compared with 26.2% statewide. Educated Urbanites – high-earning, often single professionals – were also overrepresented, as were Flourishing Families (affluent, middle-aged families) and Singles and Starters (young singles and families starting out). With its mix of young professionals and established families, Stockton may be well suited to households working in the Bay Area – and could become an increasingly popular choice in 2027.

An Appetite for Limited-Service Dining

Data shows that Stockton’ work-from-home rates remain well below state and nationwide averages, and these busy, commuter-heavy households are also showing up in dining visitation trends. 

Stockton posted the strongest overall dining visit growth of the five markets on this list, with limited-service chains leading the way. Fast-casual visits rose 5.2% YoY, double the statewide and nationwide growth rates. And even quick-service restaurants, which have faced significant headwinds in recent months, saw visits rise 1.5% YoY. That makes Stockton a market to prioritize for limited-service chains looking to reach young professionals and families.

Phoenix, AZ – Strong Retail Foundations

The Phoenix metro area has one of the nation’s fastest-growing populations, thanks in part to a strong job market. And one of the most significant regional employment catalysts is TSMC’s chip plant – poised to expand in 2027 – shaping real estate and retail demand.

Everyday Retail Segments Stand Out

As the Phoenix metro’s population climbs, so too does demand for essentials and lifestyle-forward retailers. YoY visits to several retail categories in the region beat out the nationwide benchmark over the last twelve months, including discount & dollar stores, clothing, and electronics stores. These trends point to a solid market for retailers looking to reach the region's growing households. 

Shopping Center Hotspots

Phoenix’s growing population is also providing a visit lift to its shopping centers. Tempe Marketplace, Kierland Commons, Scottsdale Fashion Square, Chandler Fashion Center, and SanTan Village each posted consistent YoY visit growth over the past six months. As new households look for places that combine retail, dining, and entertainment, Phoenix’s shopping centers appear well positioned for continued growth in 2027.

Boise, ID – Inbound Households and Growing Demand

Boise, Idaho, is next in line for a chip-driven boom. Micron’s $50 billion complex, which will make memory chips for AI systems, is set to begin production in mid-2027. Construction has already generated thousands of jobs – with some 17,000 jobs statewide, including 2,000 at Micron, expected to follow as the plant comes online, making 2027 a pivotal year for the region.

Domestic Migration Is Ramping Up

Boise’s incoming tech boom coincides with accelerating household movement into the metro. Net domestic migration has added 2.8% to Boise’s population since September 2023, with half of that gain (1.4%) coming in the past year alone. And as Micron’s chip-related jobs come online, more households are likely to follow the trend.

Grocery Growth Signals Demand

A look at grocery visits nationwide and within the metro points to rising consumer demand in Boise. Visits to grocery chains across the metro rose 2.3% YoY over the past 12 months, outpacing the nationwide gain of 1.5%.

Expansion appears to be contributing to that growth, but demand is keeping pace: Average visits per location to Boise grocery stores also increased 0.7% YoY, slightly outpacing the national gain of 0.6%. For grocers considering Boise, the combination of an expanding population and rising traffic per location suggests room to grow as the metro heads into 2027.

Nashville, TN – Tourism Hits New Highs

Nashville’s steady population growth makes it an important retail market – and its landmark music venues and pilgrimage sites have also long made it a fixture on travel bucket lists. Just last year, the metro broke its own visitor spending record. And in 2027, a new NFL stadium could give the metro area an added boost.

Festivals Fuel Out-of-Market Visits

Over the past 12 months, visits to Nashville rose by 2.5%, likely driven in part by tentpole events like CMA Fest and Let Freedom Sing!, which spurred record crowds and an influx of consumer spending. An 8.4% YoY out-of-market visit surge in September coincided with Labor Day weekend trips and Americanafest – a citywide music festival. 

Nashville Captures Overnight Stays

Analysis of overnight stays further highlights Nashville's strength as a top tourist destination. After all, multi-day trips provide greater consumer spending potential. 

As the chart below shows, more than 80% of Nashville’s out-of-market visitors between September 2025 and August 2026 stayed overnight in the region, while just 4.7% visited for the day and spent the night elsewhere. And looking just at visit nights, only 3.0% were lost to other markets, meaning Nashville captures the vast majority of its visitors’ overnight stays. If these trends hold, the region may see another year of strong hotel demand in 2027.

Ocala, FL – The I-75 Boomtown

Rounding out our list of five markets to watch in 2027 is Ocala, FL – the fastest- growing metro in the country, where real estate development is helping accommodate a booming population.

In May 2026, Ocala’s city council approved 2,700 new residences and nearly a million square feet of commercial space, with more development on the horizon. The metro’s position between Miami, Atlanta, Tampa, and Jacksonville has also made it a logistics hub, home to several retail distribution centers.

Ocala Draws More Visits by Inbound Commuters 

Inbound commuter visits to Ocala have risen in recent months, with YoY growth reaching 8.2% in September 2026.

A wave of new jobs is likely helping draw commuters to Ocala, which has posted the fastest job growth of the five markets on this list. Its I-75 logistics corridor keeps growing, with ECMD opening its first Florida distribution center there in September 2026. The World Equestrian Center added roughly 300 jobs with its new Equestrian Manor, while a steady construction pipeline is creating more employment opportunities. Meanwhile, improvements underway along I-75 are expected to expand capacity and improve access to local businesses.

Retail and Dining Chains Outperform in Ocala

That growing daytime population may also be showing up at the register. Ocala has attracted rapidly expanding chains like Raising Cane’s and 7 Brew Coffee, which made their market debuts in 2026 – and established chains in the metro continue to outperform statewide and/or nationwide visit benchmarks.

Here’s to 2027

Stockton, Phoenix, Boise, Nashville, and Ocala each approach 2027 on strong footing and with a growth story of their own – though only time will tell what the year has in store.