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 | Dec 4, 2019
9 tips on creating places of respite and reflection
We talked to six veteran landscape architects about how to incorporate gardens and quiet spaces into multifamily communities.
| Nov 20, 2019
ClosetMaid to celebrate 55 years in business at the 2020 NAHB International Builders Show
Company to celebrate 55 years in storage and organization with a visit by celebrity guest Anthony Carrino.
Multifamily Housing | Nov 20, 2019
Over 400 micro units spread across two communities under development in Austin
Transwestern is developing the projects.
Multifamily Housing | Nov 14, 2019
U.S. multifamily market stays strong into 4th quarter 2019
October performance sets a record amid rising political pressure to cap rent growth, reports Yardi Matrix.
Multifamily Housing | Nov 8, 2019
The Peloton Wars, Part III - More alternatives for apartment building owners
ProForm Studio Bike Pro review.
Multifamily Housing | Nov 7, 2019
Multifamily construction market remains strong heading into 2020
Fewer than one in 10 AEC firms doing multifamily work reported a decrease in proposal activity in Q3 2019, according to a PSMJ report.
| Nov 6, 2019
Solomon Cordwell Buenz opens Seattle office, headed by Nolan Sit
National design firm brings residential high-rise expertise to the Pacific Northwest
| Nov 6, 2019
Passive House senior high-rise uses structural thermal breaks to insulate steel penetrations
Built to International Passive House standards, the Corona Senior Residence in Queens, N.Y., prevents thermal bridging between interior and exterior steel structures by insulating canopies and rooftop supports where they penetrate the building envelope.