2025 Opportunity Zones Survey Reveals Strong Excitement For OZ 2.0

The 2025 Annual Survey Report on Opportunity Zones, conducted by OpportunityZones.com, shows that investor optimism and satisfaction with the Opportunity Zones program remain strong for a second consecutive year.

This year’s survey collected responses from 169 Opportunity Zone investors, fund managers, developers, advisors, and policymakers across the country, offering a timely snapshot of investor sentiment at a pivotal moment for the program. The results point to a clear theme: satisfaction with past Opportunity Zone investments remains strong, while enthusiasm is building around the newly enacted Opportunity Zones 2.0 framework.

Click here to download the report.

With OZ 2.0 signed into law in July 2025 and implementation timelines now coming into focus, the Opportunity Zones market is entering a new phase, one defined less by uncertainty and more by long-term planning.

Investor Satisfaction Remains Strong

As in prior years, survey participants expressed high levels of satisfaction with their existing Opportunity Zone investments. Overall, two-thirds (67%) of investors surveyed reported being satisfied or very satisfied with their Opportunity Zone investments so far.

This ongoing satisfaction is especially notable given the program’s early challenges. During the OZ 1.0 era, investors navigated regulatory ambiguity, evolving guidance, and a looming sunset date. Despite those headwinds, a substantial portion of survey participants report positive experiences and outcomes.

“What stood out most in this year’s survey wasn’t just satisfaction with past Opportunity Zone investments—it was the level of optimism around what comes next,” said Jimmy Atkinson, founder & CEO of OpportunityZones.com. “With OZ 2.0 now law, investors finally have the clarity they’ve been waiting for, and the data shows they’re already positioning capital for the years ahead.”

OZ 2.0 Is Changing The Conversation

While satisfaction levels remain high, the 2025 survey shows a meaningful shift in how participants are thinking about the future of the program.

Unlike prior years, when extension risk and legislative uncertainty dominated conversations, OZ 2.0 has introduced a sense of permanence and predictability. Investors now have clearer timelines, updated incentives, and a framework designed to support long-term capital formation.

And sentiment around OZ 2.0 is strong overall. Nearly two-thirds (63%) of our survey participants are satisfied or very satisfied with the new OZ 2.0 provisions included in the One Big Beautiful Bill, enacted July 4, 2025. More than three-fourths (76%) of survey participants said that OZ 2.0 has increased their likelihood of making Opportunity Zone investments.

“OZ 2.0 feels a bit like the fog lifting,” said Andy Hagans, host of OZ NewsHour. “Investors never stopped believing in Opportunity Zones. But now they can finally see the road ahead, and our survey data suggests a lot of them are getting ready to accelerate.”

That shift in mindset is already influencing how investors are thinking about when to deploy capital.

Capital Is Lining Up For OZ 2.0 In 2027

One of the most notable findings from this year’s survey is when survey participants expect Opportunity Zone investment activity to accelerate.

Rather than signaling an immediate surge, the data indicates a likely cooldown in 2026, followed by a potential surge in OZ investing in 2027, the first year in which the OZ 2.0 benefits take full effect. According to the survey, 55% indicated that they were likely to make an OZ investment in 2027, compared with just 34% in 2026.

Residential Real Estate Continues To Lead

As in previous surveys, real estate remains the dominant asset class for Opportunity Zone investments, with residential and multifamily projects continuing to attract the largest share of capital.

Overall, three-fourths (75%) of the investors in our survey indicated that they have invested in Residential, up from 66% last year. Mixed-use remained the second-most popular sector at 36%, unchanged from last year.

Industrial investments saw the largest year-over-year increase, with 28% of investors reporting exposure to the sector, up from 14% last year.

A Market Entering Its Next Chapter

Taken together, the 2025 Opportunity Zones Survey results paint a picture of an ecosystem in transition.

The early experimentation of OZ 1.0 has given way to a more measured, strategic approach. With OZ 2.0 now in place, investors are thinking in longer cycles, planning more deliberately, and preparing for a future that feels more stable than it has in years.

The Opportunity Zones story is no longer just about proving the concept. It is about execution, scale, and impact over the next decade.

Download the full 2025 Opportunity Zones Survey Report to explore the complete findings, charts, and analysis.