HOW IT WORKS

Home Valuation Steps Home Valuation Steps Home Valuation Steps Home Valuation Steps

Rental Property Value Calculator

As interest rates move higher and the cost of capital increases, real estate investors are willing and able to pay less than before to acquire rental property.

Now that the investment landscape is changing after years of historically low interest rates, investors should monitor cap rates more regularly to stay on top of the market. View the table below to find current cap rates in the largest multifamily markets.

You can also value a home or condo used as a rental property.


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-WV6.85%1-3 Floors1949 or older
Current Cap Rate for Boston-Cambridge-Newton, MA-NH6.31%1-3 Floors1949 or older
Current Cap Rate for Virginia Beach-Norfolk-Newport News, VA-NC8.06%1-3 Floors1950-1979
Current Cap Rate for New York-Newark-Jersey City, NY-NJ-PA6.29%1-3 Floors1949 or older
Current Cap Rate for San Francisco-Oakland-Hayward, CA5.27%1-3 Floors1950-1979
Current Cap Rate for Austin-Round Rock, TX5.62%1-3 Floors1950-1979
Current Cap Rate for Denver-Aurora-Lakewood, CO6.94%1-3 Floors1950-1979
Current Cap Rate for Richmond, VA7.83%1-3 Floors1950-1979
Current Cap Rate for Portland-Vancouver-Hillsboro, OR-WA6%1-3 Floors1950-1979
Current Cap Rate for Chicago-Naperville-Elgin, IL-IN-WI7.06%1-3 Floors1949 or older
Current Cap Rate for Nashville-Davidson--Murfreesboro--Franklin, TN6.99%1-3 Floors1950-1979
Current Cap Rate for Atlanta-Sandy Springs-Roswell, GA7.96%1-3 Floors1950-1979
Current Cap Rate for St. Louis, MO-IL7.8%1-3 Floors1950-1979
Current Cap Rate for Charlotte-Concord-Gastonia, NC-SC7.23%1-3 Floors1980-1999
Current Cap Rate for Sacramento--Roseville--Arden-Arcade, CA6.19%1-3 Floors1950-1979
Current Cap Rate for Greenville, NC9.49%1-3 Floors1980-1999
Current Cap Rate for Madison, WI6.36%1-3 Floors1950-1979
Current Cap Rate for Orlando-Kissimmee-Sanford, FL7.15%1-3 Floors1950-1979
Current Cap Rate for Dallas-Fort Worth-Arlington, TX7.15%1-3 Floors1950-1979
Current Cap Rate for Little Rock-North Little Rock-Conway, AR7.78%1-3 Floors1950-1979
Current Cap Rate for Columbus, OH7.48%1-3 Floors1950-1979
Current Cap Rate for Lansing-East Lansing, MI7.8%1-3 Floors1950-1979
Current Cap Rate for Ann Arbor, MI8.34%1-3 Floors1950-1979
Current Cap Rate for Columbia, SC7.27%1-3 Floors1980-1999
Current Cap Rate for Oklahoma City, OK7.44%1-3 Floors1950-1979
Current Cap Rate for Seattle-Tacoma-Bellevue, WA5.36%1-3 Floors1950-1979
Current Cap Rate for New Orleans-Metairie, LA6.67%1-3 Floors1950-1979
Current Cap Rate for Baltimore-Columbia-Towson, MD7.45%1-3 Floors1949 or older
Current Cap Rate for Salt Lake City, UT5.66%1-3 Floors2000 or newer
Current Cap Rate for Philadelphia-Camden-Wilmington, PA-NJ-DE-MD6.93%1-3 Floors1949 or older
Current Cap Rate for Houston-The Woodlands-Sugar Land, TX6.92%1-3 Floors1950-1979
Current Cap Rate for San Diego-Carlsbad, CA5.5%1-3 Floors1950-1979
Current Cap Rate for Charleston-North Charleston, SC6.95%1-3 Floors1980-1999
Current Cap Rate for Los Angeles-Long Beach-Anaheim, CA5%1-3 Floors1950-1979
Current Cap Rate for San Jose-Sunnyvale-Santa Clara, CA5.2%1-3 Floors1950-1979
Current Cap Rate for Minneapolis-St. Paul-Bloomington, MN-WI6.78%1-3 Floors1950-1979
Current Cap Rate for Indianapolis-Carmel-Anderson, IN7.93%1-3 Floors1950-1979
Current Cap Rate for Las Vegas-Henderson-Paradise, NV6.83%1-3 Floors1950-1979
Current Cap Rate for Milwaukee-Waukesha-West Allis, WI7.09%1-3 Floors1949 or older
Current Cap Rate for Omaha-Council Bluffs, NE-IA8.51%1-3 Floors1950-1979
Current Cap Rate for Jacksonville, FL6.79%1-3 Floors1950-1979
Current Cap Rate for San Antonio-New Braunfels, TX6.95%1-3 Floors1980-1999
Current Cap Rate for Tampa-St. Petersburg-Clearwater, FL7.37%1-3 Floors1950-1979
Current Cap Rate for Miami-Fort Lauderdale-West Palm Beach, FL6.5%1-3 Floors1950-1979
Current Cap Rate for Augusta-Richmond County, GA-SC7.52%1-3 Floors1980-1999
Current Cap Rate for Boise City, ID5.5%1-3 Floors1950-1979
Current Cap Rate for Knoxville, TN6.84%1-3 Floors1980-1999
Current Cap Rate for Birmingham-Hoover, AL8.45%1-3 Floors1950-1979
Current Cap Rate for Greenville-Anderson-Mauldin, SC7.53%1-3 Floors1980-1999
Current Cap Rate for Bakersfield, CA7.21%1-3 Floors1950-1979
Current Cap Rate for Riverside-San Bernardino-Ontario, CA6.51%1-3 Floors1950-1979
Current Cap Rate for Colorado Springs, CO6.48%1-3 Floors2000 or newer
Current Cap Rate for Providence-Warwick, RI-MA7.21%1-3 Floors1949 or older
Current Cap Rate for Phoenix-Mesa-Scottsdale, AZ6.79%1-3 Floors1950-1979
Current Cap Rate for Toledo, OH7.61%1-3 Floors1950-1979
Current Cap Rate for Cincinnati, OH-KY-IN8.09%1-3 Floors1950-1979
Current Cap Rate for Albuquerque, NM7.08%1-3 Floors1950-1979
Current Cap Rate for Memphis, TN-MS-AR7.71%1-3 Floors1950-1979
Current Cap Rate for Fresno, CA6.91%1-3 Floors1950-1979
Current Cap Rate for Kansas City, MO-KS7.76%1-3 Floors1950-1979
Current Cap Rate for Tulsa, OK7.18%1-3 Floors1950-1979
Current Cap Rate for Albany-Schenectady-Troy, NY8.26%1-3 Floors1949 or older
Current Cap Rate for Grand Rapids-Wyoming, MI7.34%1-3 Floors1950-1979
Current Cap Rate for El Paso, TX7.41%1-3 Floors1950-1979
Current Cap Rate for Hartford-West Hartford-East Hartford, CT8.07%1-3 Floors1949 or older
Current Cap Rate for Huntsville, AL7.39%1-3 Floors1980-1999
Current Cap Rate for Louisville/Jefferson County, KY-IN7.78%1-3 Floors1950-1979
Current Cap Rate for Stockton-Lodi, CA0%1-3 Floors1950-1979
Current Cap Rate for Wichita, KS9.17%1-3 Floors1950-1979
Current Cap Rate for Cedar Rapids, IA9.18%1-3 Floors1950-1979
Current Cap Rate for Vallejo-Fairfield, CA5.77%1-3 Floors1950-1979
Current Cap Rate for Winston-Salem, NC8.02%1-3 Floors1980-1999
Current Cap Rate for Evansville, IN-KY7.84%1-3 Floors1980-1999
Current Cap Rate for Dayton, OH8.58%1-3 Floors1950-1979
Current Cap Rate for Chattanooga, TN-GA8.45%1-3 Floors1950-1979
Current Cap Rate for Asheville, NC7.53%1-3 Floors1950-1979
Current Cap Rate for Manchester-Nashua, NH7.45%1-3 Floors1949 or older
Current Cap Rate for New Haven-Milford, CT7.78%1-3 Floors1949 or older
Current Cap Rate for Worcester, MA-CT6.79%1-3 Floors1949 or older
Current Cap Rate for Tucson, AZ7.18%1-3 Floors1950-1979
Current Cap Rate for Portland-South Portland, ME5.56%1-3 Floors1950-1979
Current Cap Rate for Pittsburgh, PA7.25%1-3 Floors1949 or older
Current Cap Rate for Detroit-Warren-Dearborn, MI8.13%1-3 Floors1950-1979
Current Cap Rate for Buffalo-Cheektowaga-Niagara Falls, NY7.65%1-3 Floors1949 or older
Current Cap Rate for Allentown-Bethlehem-Easton, PA-NJ7.09%1-3 Floors1949 or older
Current Cap Rate for Cleveland-Elyria, OH7.76%1-3 Floors1950-1979
Current Cap Rate for Concord, NH7.84%1-3 Floors1950-1979
Current Cap Rate for Lakeland-Winter Haven, FL7.73%1-3 Floors1980-1999
Current Cap Rate for Astoria, OR6.58%1-3 Floors1949 or older
Current Cap Rate for Deltona-Daytona Beach-Ormond Beach, FL7.19%1-3 Floors1949 or older
Current Cap Rate for Cape Coral-Fort Myers, FL8.24%1-3 Floors1980-1999
Current Cap Rate for North Port-Sarasota-Bradenton, FL7.49%1-3 Floors1980-1999

Simple to use, fast and powerful intelligence

Apartment Property Valuation makes it fast and easy for investors to find the value of apartment properties throughout the United States. The rental property value estimator requires just a few pieces of information, and there's nothing to lose getting started. It's completely free.

How Property Valuations and Cap Rates are Determined

How the Cap Rate Calculator Works

Calculate the value of any apartment property by entering basic information, and fine tune the assumptions to get the most accurate valuation.

Property Tax Appeals

Property Tax Appeals

Get a quick and accurate reading to know if your property tax bill is fair. It may be time for an appeal!

APV United States Apartment Location Ranking System

APV Apartment Location Ranking System

Find property location rankings based upon market size, population density, propensity to rent and household income.

Cap Rate Formula

Cap Rate Formula for Real Estate

View the cap rate formula for real estate and use it to value investment property.

Real Estate Cap Rate

Real Estate Cap Rate FAQs

Find answers to frequently asked questions (FAQs) about the real estate cap rate.

Historical Risk Premiums

Historical Apartment Returns

View the total returns of institutional apartments side-by-side with interest rates, GDP and inflation going back decades.