Cap Rates by County for Apartment Buildings in the 200 Largest Counties
Below is a list showing the median cap rate by county for select property types. Keep in mind that cap rates for specific properties may be higher or lower than the median in their area. Read more about How To Find the Market Value of Investment Real Estate.
| County | Median Cap Rate | Property Type | Year Built |
|---|---|---|---|
| Current Cap Rate for Los Angeles County, California | 4.85% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Cook County, Illinois | 6.22% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Harris County, Texas | 6.65% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Maricopa County, Arizona | 6.52% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for San Diego County, California | 5.03% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Orange County, California | 4.22% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Kings County, New York | 5.29% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Miami-Dade County, Florida | 5.72% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Dallas County, Texas | 6.66% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Queens County, New York | 4.79% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Riverside County, California | 5.81% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for San Bernardino County, California | 6.45% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Clark County, Nevada | 5.9% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for King County, Washington | 4.59% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Wayne County, Michigan | 7.56% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Tarrant County, Texas | 6.73% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Santa Clara County, California | 4.75% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Broward County, Florida | 6.47% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Bexar County, Texas | 6.84% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Philadelphia County, Pennsylvania | 6.19% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Alameda County, California | 4.67% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Middlesex County, Massachusetts | 5.43% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Sacramento County, California | 5.68% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Palm Beach County, Florida | 6.6% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Cuyahoga County, Ohio | 7.81% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Hillsborough County, Florida | 7.02% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Allegheny County, Pennsylvania | 7.22% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Oakland County, Michigan | 8.38% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Franklin County, Ohio | 7.08% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Hennepin County, Minnesota | 5.96% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Orange County, Florida | 6.52% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Contra Costa County, California | 5.74% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Salt Lake County, Utah | 5.12% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Travis County, Texas | 5.3% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for St. Louis County, Missouri | 6.13% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Pima County, Arizona | 6.98% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Honolulu County, Hawaii | 5.17% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Westchester County, New York | 6.16% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Milwaukee County, Wisconsin | 7.12% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Fresno County, California | 6.77% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Shelby County, Tennessee | 8.22% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Fulton County, Georgia | 7.17% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Mecklenburg County, North Carolina | 6.6% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Erie County, New York | 7.83% | 1-3 Floors | 1949 or older |
| Current Cap Rate for DuPage County, Illinois | 5.55% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Fairfield County, Connecticut | 5.72% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Pinellas County, Florida | 6.77% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Bergen County, New Jersey | 6.32% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Marion County, Indiana | 7.53% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Wake County, North Carolina | 5.7% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Hartford County, Connecticut | 7.86% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Duval County, Florida | 7.16% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for New Haven County, Connecticut | 7.03% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Macomb County, Michigan | 8.05% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Kern County, California | 6.47% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for San Francisco County, California | 3.73% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Baltimore County, Maryland | 7.01% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Hamilton County, Ohio | 7.44% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for El Paso County, Texas | 7.04% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Montgomery County, Pennsylvania | 6.68% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Worcester County, Massachusetts | 7.42% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Pierce County, Washington | 5.42% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Essex County, New Jersey | 5.5% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Essex County, Massachusetts | 6.25% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Jefferson County, Kentucky | 7.73% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Multnomah County, Oregon | 4.79% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Suffolk County, Massachusetts | 5.04% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Oklahoma County, Oklahoma | 7.25% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Snohomish County, Washington | 4.98% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Lake County, Illinois | 7.19% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for DeKalb County, Georgia | 7.9% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for San Joaquin County, California | 5.49% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Jackson County, Missouri | 7.23% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Norfolk County, Massachusetts | 5.87% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Bernalillo County, New Mexico | 7.08% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Jefferson County, Alabama | 7.81% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Hudson County, New Jersey | 5.29% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Monmouth County, New Jersey | 7% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Davidson County, Tennessee | 5.94% | 1-3 Floors | 2000 or newer |
| Current Cap Rate for Providence County, Rhode Island | 7.04% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Bucks County, Pennsylvania | 6.87% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for El Paso County, Colorado | 6.72% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Baltimore city, Maryland | 7.21% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Lee County, Florida | 8.23% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Tulsa County, Oklahoma | 7.01% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Kent County, Michigan | 6.25% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Polk County, Florida | 7.72% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for District of Columbia, District of Columbia | 6.87% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Denver County, Colorado | 5.86% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Arapahoe County, Colorado | 5.85% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Delaware County, Pennsylvania | 7.41% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Bristol County, Massachusetts | 6.25% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Brevard County, Florida | 8.43% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for New Castle County, Delaware | 7.3% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Union County, New Jersey | 6.3% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Montgomery County, Ohio | 7.74% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Douglas County, Nebraska | 7.6% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Utah County, Utah | 5.29% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Kane County, Illinois | 7.21% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Ramsey County, Minnesota | 5.45% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Sedgwick County, Kansas | 8.77% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Lake County, Indiana | 7.82% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Plymouth County, Massachusetts | 7.02% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Volusia County, Florida | 7.52% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Dane County, Wisconsin | 5.92% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Lucas County, Ohio | 8.33% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Knox County, Tennessee | 7.21% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Polk County, Iowa | 8.93% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Washoe County, Nevada | 5.32% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Solano County, California | 5.74% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Hillsborough County, New Hampshire | 7.39% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Ada County, Idaho | 5.75% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Richland County, South Carolina | 7.09% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Pulaski County, Arkansas | 7.14% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Sarasota County, Florida | 7.35% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Forsyth County, North Carolina | 8.71% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Charleston County, South Carolina | 6.71% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Lehigh County, Pennsylvania | 7.44% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Washtenaw County, Michigan | 7.58% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Orleans Parish, Louisiana | 6.65% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Hamilton County, Tennessee | 7.99% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Madison County, Alabama | 7.4% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Luzerne County, Pennsylvania | 10.65% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for St. Louis city, Missouri | 8.13% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Albany County, New York | 7.57% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Northampton County, Pennsylvania | 6.85% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Rockingham County, New Hampshire | 7.34% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Anchorage Municipality, Alaska | 6.06% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Cumberland County, Maine | 6.04% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Horry County, South Carolina | 7.8% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Chatham County, Georgia | 7.17% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Norfolk city, Virginia | 7.45% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Buncombe County, North Carolina | 6.64% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Weber County, Utah | 6.34% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Montgomery County, Alabama | 8.79% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Richmond city, Virginia | 7.14% | 1-3 Floors | 1949 or older |
| Current Cap Rate for York County, Maine | 6.79% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Muscogee County, Georgia | 7.57% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Middlesex County, Connecticut | 7.16% | 1-3 Floors | 1950-1979 |
| Current Cap Rate for Davidson County, North Carolina | 8.94% | 1-3 Floors | 1980-1999 |
| Current Cap Rate for Kenton County, Kentucky | 8.49% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Chittenden County, Vermont | 7.05% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Merrimack County, New Hampshire | 7.69% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Hunterdon County, New Jersey | 5.75% | 1-3 Floors | 2000 or newer |
| Current Cap Rate for Frederick County, Virginia | 6.68% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Belknap County, New Hampshire | 8.28% | 1-3 Floors | 1949 or older |
| Current Cap Rate for Henderson County, Kentucky | 7.92% | 1-3 Floors | 1950-1979 |
Note: This list above contains median cap rates for the entire county. Cap Rates will be higher or lower for individual properties depending upon the location within the county. Use the Cap Rate Tool to find the cap rate for a specific property.
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What Is a Cap Rate?
Cap rate is an abbreviation for capitalization rate and there are a few different ways to calculate it.
What Is the Current Cap Rate for Apartments?
Apartments buildings in the US currently sell for about a 7% cap rate on average, but knowing the average cap rate for the whole country has limited practical value.
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