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Current Cap Rates for Apartments in the 50 Largest Multifamily Markets

The list below shows median cap rates for the entire Metropolitan Statistical Area (MSA) for select property types. Cap Rates will be higher or lower for individual properties depending upon the size, class and location of the property within the MSA. Enter the property address into the box at the top of the page to find the cap rate for a particular property. You can also read more about current cap rates.

 

Market (MSA)Median Cap RateProperty TypeYear Built
Current Cap Rate for Washington-Arlington-Alexandria, DC-VA-MD-WV7.04%1-3 Floors1950-1979
Current Cap Rate for Boston-Cambridge-Newton, MA-NH6.2%1-3 Floors1949 or older
Current Cap Rate for Virginia Beach-Norfolk-Newport News, VA-NC8.34%1-3 Floors1950-1979
Current Cap Rate for New York-Newark-Jersey City, NY-NJ-PA6.71%1-3 Floors1950-1979
Current Cap Rate for San Francisco-Oakland-Hayward, CA5.06%1-3 Floors1950-1979
Current Cap Rate for Austin-Round Rock, TX5.68%1-3 Floors1950-1979
Current Cap Rate for Denver-Aurora-Lakewood, CO7%1-3 Floors1950-1979
Current Cap Rate for Richmond, VA7.69%1-3 Floors1949 or older
Current Cap Rate for Portland-Vancouver-Hillsboro, OR-WA6%1-3 Floors1950-1979
Current Cap Rate for Chicago-Naperville-Elgin, IL-IN-WI6.91%1-3 Floors1949 or older
Current Cap Rate for Nashville-Davidson--Murfreesboro--Franklin, TN7.3%1-3 Floors1950-1979
Current Cap Rate for Atlanta-Sandy Springs-Roswell, GA8%1-3 Floors1950-1979
Current Cap Rate for St. Louis, MO-IL7.22%1-3 Floors1950-1979
Current Cap Rate for Charlotte-Concord-Gastonia, NC-SC7.26%1-3 Floors1980-1999
Current Cap Rate for Sacramento--Roseville--Arden-Arcade, CA6.65%1-3 Floors1950-1979
Current Cap Rate for Orlando-Kissimmee-Sanford, FL7.22%1-3 Floors1950-1979
Current Cap Rate for Dallas-Fort Worth-Arlington, TX7.22%1-3 Floors1950-1979
Current Cap Rate for Columbus, OH7.37%1-3 Floors1950-1979
Current Cap Rate for Oklahoma City, OK7.28%1-3 Floors1950-1979
Current Cap Rate for Raleigh, NC0%1-3 Floors1950-1979
Current Cap Rate for Seattle-Tacoma-Bellevue, WA5.59%1-3 Floors1950-1979
Current Cap Rate for New Orleans-Metairie, LA7.26%1-3 Floors1950-1979
Current Cap Rate for Baltimore-Columbia-Towson, MD6.96%1-3 Floors1949 or older
Current Cap Rate for Salt Lake City, UT5.52%1-3 Floors2000 or newer
Current Cap Rate for Philadelphia-Camden-Wilmington, PA-NJ-DE-MD6.98%1-3 Floors1949 or older
Current Cap Rate for Houston-The Woodlands-Sugar Land, TX7.09%1-3 Floors1950-1979
Current Cap Rate for San Diego-Carlsbad, CA5.79%1-3 Floors1950-1979
Current Cap Rate for Los Angeles-Long Beach-Anaheim, CA5.2%1-3 Floors1950-1979
Current Cap Rate for San Jose-Sunnyvale-Santa Clara, CA5.82%1-3 Floors1950-1979
Current Cap Rate for Minneapolis-St. Paul-Bloomington, MN-WI7.22%1-3 Floors1950-1979
Current Cap Rate for Indianapolis-Carmel-Anderson, IN7.79%1-3 Floors1950-1979
Current Cap Rate for Las Vegas-Henderson-Paradise, NV7.33%1-3 Floors1950-1979
Current Cap Rate for Milwaukee-Waukesha-West Allis, WI7.16%1-3 Floors1949 or older
Current Cap Rate for Jacksonville, FL6.94%1-3 Floors1950-1979
Current Cap Rate for San Antonio-New Braunfels, TX6.89%1-3 Floors1980-1999
Current Cap Rate for Tampa-St. Petersburg-Clearwater, FL7.32%1-3 Floors1950-1979
Current Cap Rate for Miami-Fort Lauderdale-West Palm Beach, FL6.7%1-3 Floors1950-1979
Current Cap Rate for Birmingham-Hoover, AL0%1-3 Floors1950-1979
Current Cap Rate for Riverside-San Bernardino-Ontario, CA6.84%1-3 Floors1950-1979
Current Cap Rate for Providence-Warwick, RI-MA7.15%1-3 Floors1949 or older
Current Cap Rate for Phoenix-Mesa-Scottsdale, AZ6.79%1-3 Floors1950-1979
Current Cap Rate for Cincinnati, OH-KY-IN7.8%1-3 Floors1950-1979
Current Cap Rate for Memphis, TN-MS-AR7.62%1-3 Floors1950-1979
Current Cap Rate for Kansas City, MO-KS7.77%1-3 Floors1950-1979
Current Cap Rate for Hartford-West Hartford-East Hartford, CT7.99%1-3 Floors1949 or older
Current Cap Rate for Louisville/Jefferson County, KY-IN7.66%1-3 Floors1950-1979
Current Cap Rate for Pittsburgh, PA7.36%1-3 Floors1949 or older
Current Cap Rate for Detroit-Warren-Dearborn, MI8.24%1-3 Floors1950-1979
Current Cap Rate for Buffalo-Cheektowaga-Niagara Falls, NY7.88%1-3 Floors1949 or older
Current Cap Rate for Cleveland-Elyria, OH7.71%1-3 Floors1949 or older

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How Property Valuations and Cap Rates are Determined

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