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 | Feb 22, 2018
Multifamily building with 25,000 sf of amenities rises on the shore of the Potomac River
The building is part of the National Gateway mixed-use development at Potomac yard.
Multifamily Housing | Feb 15, 2018
United States ranks fourth for renter growth
Renters are on the rise in 21 of the 30 countries examined in RentCafé’s recent study.
Multifamily Housing | Jan 31, 2018
4 ways multifamily developers can attract Baby Boomer, Millennial buyers
As Baby Boomers downsize and Millennials begin buying homes, multifamily developments in dynamic urban areas are meeting the demand.
Sports and Recreational Facilities | Jan 25, 2018
Virginia Beach: A surf town with a wave problem no more
A world-class surf park will highlight Virginia Beach’s new live-work-play development.
Market Data | Jan 25, 2018
Renters are the majority in 42 U.S. cities
Over the past 10 years, the number of renters has increased by 23 million.
Resiliency | Jan 24, 2018
A luxury community in Florida mandates resilience in new-home construction
Alys Beach’s in-house GC builds to standards set by the FORTIFIED program.
Multifamily Housing | Jan 24, 2018
Apartment rent rates jump 2.5% in 2017, led by small and mid-sized markets
The average price for one-bedroom units increased the most.
Multifamily Housing | Jan 17, 2018
The Concours at Carlisle: A condo community for gearheads
The new development will represent the only auto condo community in Central Pennsylvania.
Mixed-Use | Jan 16, 2018
Mixed-use development under construction in Detroit’s central business district
The development is being built on the former site of the Statler Hotel.
Multifamily Housing | Jan 10, 2018
Multifamily 2018 outlook: Developers tap the brakes, but will maintain historic pace
Multifamily developers are poised to register the second-highest annual completions count of this cycle in 2018, but with fewer completions than 2017’s cycle peak, according to a CBRE report.
