How The Cap Rate Calculator Works
Enter Property Address
Users may enter a property street address located anywhere in the United States.
Enter Property Characteristics
The tool relies on user descriptions of physical attributes and earnings potential.
Refine Income & Expenses
Users are able to make adjustments to a proforma income and expense statement generated from data analytics.
Get Cap Rate & Valuation
The tool displays an automated cap rate and valuation as well as a value based upon the user's projections.
Find your cap rate in less than four minutes and totally for free!
Recording your response...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 watch a video on How to Find Cap Rates.
| Market (MSA) | Median Cap Rate | Property Type | Year Built |
|---|---|---|---|
| Current Cap Rate for Washington-Arlington-Alexandria, DC-VA-MD-WV | 6.32% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Boston-Cambridge-Newton, MA-NH | 5.69% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Virginia Beach-Norfolk-Newport News, VA-NC | 7.02% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for New York-Newark-Jersey City, NY-NJ-PA | 5.58% | 1-3 Floors | 1949 or older |
| Current Cap Rate for San Francisco-Oakland-Hayward, CA | 4.66% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Austin-Round Rock, TX | 5.29% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Denver-Aurora-Lakewood, CO | 5.77% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Richmond, VA | 6.86% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Portland-Vancouver-Hillsboro, OR-WA | 5.07% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Chicago-Naperville-Elgin, IL-IN-WI | 6.29% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Nashville-Davidson--Murfreesboro--Franklin, TN | 6.1% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Atlanta-Sandy Springs-Roswell, GA | 7.17% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for St. Louis, MO-IL | 7.37% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Charlotte-Concord-Gastonia, NC-SC | 6.6% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Sacramento--Roseville--Arden-Arcade, CA | 4.99% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Provo-Orem, UT | 4.98% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Madison, WI | 6.03% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Orlando-Kissimmee-Sanford, FL | 6.22% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Dallas-Fort Worth-Arlington, TX | 6.53% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Little Rock-North Little Rock-Conway, AR | 7.19% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Columbus, OH | 6.69% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Columbia, SC | 6.98% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Oklahoma City, OK | 6.99% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Raleigh, NC | 6.06% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Seattle-Tacoma-Bellevue, WA | 4.61% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for New Orleans-Metairie, LA | 6.54% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Baltimore-Columbia-Towson, MD | 6.9% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Salt Lake City, UT | 5.04% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 6.57% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Houston-The Woodlands-Sugar Land, TX | 6.56% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for San Diego-Carlsbad, CA | 4.67% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Charleston-North Charleston, SC | 6.73% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Los Angeles-Long Beach-Anaheim, CA | 4.61% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Baton Rouge, LA | 7.79% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for San Jose-Sunnyvale-Santa Clara, CA | 4.41% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Minneapolis-St. Paul-Bloomington, MN-WI | 6.1% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Indianapolis-Carmel-Anderson, IN | 7.89% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Las Vegas-Henderson-Paradise, NV | 5.74% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Jackson, MS | 8.31% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Milwaukee-Waukesha-West Allis, WI | 6.35% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Omaha-Council Bluffs, NE-IA | 6.53% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Des Moines-West Des Moines, IA | 7.67% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Jacksonville, FL | 6.92% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for San Antonio-New Braunfels, TX | 6.5% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Tampa-St. Petersburg-Clearwater, FL | 6.58% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Miami-Fort Lauderdale-West Palm Beach, FL | 5.74% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Augusta-Richmond County, GA-SC | 7.64% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Boise City, ID | 5.13% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Knoxville, TN | 7.03% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Birmingham-Hoover, AL | 8.11% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Greenville-Anderson-Mauldin, SC | 6.71% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Ogden-Clearfield, UT | 5.66% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Springfield, MA | 7.56% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Bakersfield, CA | 6.37% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Riverside-San Bernardino-Ontario, CA | 6.1% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Colorado Springs, CO | 6.13% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Providence-Warwick, RI-MA | 6.89% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Greensboro-High Point, NC | 7.39% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Urban Honolulu, HI | 4.59% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Phoenix-Mesa-Scottsdale, AZ | 6.24% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Toledo, OH | 9.16% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Cincinnati, OH-KY-IN | 7.41% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Albuquerque, NM | 6.86% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Memphis, TN-MS-AR | 7.71% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Fresno, CA | 6.64% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Kansas City, MO-KS | 7.2% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for McAllen-Edinburg-Mission, TX | 6.67% | 1-3 Floors | 2000 or newer |
| Current Cap Rate for Tulsa, OK | 7.44% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Albany-Schenectady-Troy, NY | 7.54% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Grand Rapids-Wyoming, MI | 6.51% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for El Paso, TX | 6.62% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Hartford-West Hartford-East Hartford, CT | 7.91% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Louisville/Jefferson County, KY-IN | 7.23% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Akron, OH | 8.67% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Stockton-Lodi, CA | 5.49% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Spokane-Spokane Valley, WA | 6.39% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Wichita, KS | 8.77% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Winston-Salem, NC | 8.67% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Oxnard-Thousand Oaks-Ventura, CA | 5.46% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Dayton, OH | 7.75% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Chattanooga, TN-GA | 7.47% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for New Haven-Milford, CT | 7.03% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Rochester, NY | 6.16% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Worcester, MA-CT | 7.14% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Tucson, AZ | 6.32% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Harrisburg-Carlisle, PA | 7.22% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Pittsburgh, PA | 7.2% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Detroit-Warren-Dearborn, MI | 7.6% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Buffalo-Cheektowaga-Niagara Falls, NY | 7.18% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Bridgeport-Stamford-Norwalk, CT | 5.75% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Allentown-Bethlehem-Easton, PA-NJ | 7.11% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Cleveland-Elyria, OH | 7.75% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Lancaster, PA | 7.84% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Scranton--Wilkes-Barre--Hazleton, PA | 10.05% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Lakeland-Winter Haven, FL | 7.57% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Youngstown-Warren-Boardman, OH-PA | 8.24% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Deltona-Daytona Beach-Ormond Beach, FL | 7% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Cape Coral-Fort Myers, FL | 7.9% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Palm Bay-Melbourne-Titusville, FL | 7.53% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for North Port-Sarasota-Bradenton, FL | 7.06% | 1-3 Floors | 1950-1979 |
Where's the Best Place to Buy Investment Property?
How does your property rank on a scale of 1 to 100? The APV United States Property Location Ranking™ shows scores for property locations on a scale of 1 to 100. The most desirable locations receive a score of 100. There are two rankings assigned for each address. The National ranking shows how the property ranks as compared to other properties throughout the United States. The State ranking shows how the location stacks up against others within the state.
What is a Cap Rate?
Cap rate is an abbreviation for capitalization rate and there are a few different ways to calculate it.
How to Find the Market Value of a Real Estate Investment
If everyone had access to perfect information, all parties would come up with the same value for a given piece of property.
Sell Your Home to a Real Estate Investor and Fetch a Higher Price
You'll usually make the most profit by selling to a traditional homebuyer. But this isn't always the case.
When to Use Direct Capitalization
It's not always best to use NOI over cap rate to find a property value. Let us break it down for you.
Education + Analytics
Dataspot Analytics LLC is a New York-based data science company that focuses on investment real estate. It offers insights to investors and industry participants looking to be on the pulse of local market conditions throughout the United States. Its valuation tools and educational materials provide users with real-time access to the vital information needed to make educated real estate decisions.
