Latest data from real estate investment firm Marcus & Millichap shows San Francisco (#1), San Jose (#2), and Orange County, Calif. (#4) in the Top 5 of U.S. multifamily markets for average price/unit in mulfamily transactions. Avg price/unit in San Francisco: $451,060; San Jose: $403,370; Orange County: $301,740.
Rounding out the Top 5: Boston (#3, $308,310) and New York City (#5, $289,000).
Avg price/unit for the U.S.: $151,480.
Looking for a bargain (maybe): Go Midwest, young dealmaker.
Avg price/unit in Cincinnati: $52,780. Cleveland: $54,880. Indianapolis: $64,950.
Note: Apartment data forecasts for 2019 are based on the most up-to-date information available as of December 2018 and are subject to change. Average prices are a function of the age, class and geographic area of the properties trading and therefore may not be representative of the market as a whole. No representation, warranty or guarantee, express or implied, may be made as to the accuracy or reliability of the information contained herein. This is not intended to be a forecast of future events and this is not a guaranty regarding a future event. This is not intended to provide specific investment advice and should not be considered as investment advice.
Source: 2019 MULTIFAMILY North American Investment Forecast © Marcus & Millichap 2019
Related Stories
Multifamily Housing | Sep 14, 2020
McShane Construction begins work on Gilbert, Ariz., multifamily development
Continental Properties is the project owner.
Multifamily Housing | Sep 10, 2020
COVID-19: How are you doing?
Multifamily seems to be one sector in the construction industry that’s holding its own during the pandemic.
Multifamily Housing | Sep 10, 2020
EV charging webinar to feature experts from Bozzuto, Irvine Company, and RCLCO - Wed., 9-16
EV charging webinar (9/16) to feature Bozzuto Development, The Irvine Company, RCLCO, and ChargePoint
Multifamily Housing | Sep 2, 2020
8 noteworthy multifamily projects to debut in 2020
Brooklyn's latest mega-development, Denizen Bushwick, and Related California’s apartment tower in San Francisco are among the notable multifamily projects to debut in the first half of 2020.
Multifamily Housing | Sep 2, 2020
New affordable housing in the Bronx is designed for both seniors and teens
Body Lawson Associates designed the project.
Giants 400 | Aug 28, 2020
2020 Giants 400 Report: Ranking the nation's largest architecture, engineering, and construction firms
The 2020 Giants 400 Report features more than 130 rankings across 25 building sectors and specialty categories.
Sponsored | | Aug 26, 2020
Healthy air systems have become the new “standard equipment.”
As home buyers demand healthy air systems, builders look to differentiate themselves with a “Healthy Home Builder” designation.
Coronavirus | Aug 25, 2020
Video: 5 building sectors to watch amid COVID-19
RCLCO's Brad Hunter reveals the winners and non-winners of the U.S. real estate market during the coronavirus pandemic.
Multifamily Housing | Aug 24, 2020
Portland’s zoning reform looks to boost the ‘missing middle’ of housing
The city council in Portland, Ore., recently approved the “Residential Infill Project” (RIP), a package of amendments to the city’s zoning code that legalizes up to four homes on nearly any residential lot and sharply limits building sizes.
Multifamily Housing | Aug 24, 2020
Texaco’s century-old headquarters is now a luxury apartment community
After sitting vacant for nearly three decades, the former home of Texaco, Inc. has been converted into a 17-story, 286-unit apartment building in the heart of downtown Houston.