Cap rates in certain areas

[Kyle Woodruff]

Anyone have a way to look up cap rates in a certain area? I'm trying to get an evaluation on the property I want to purchase and can't find how to look up cap rates in my local area. Thanks in advance everyone!

[Arn Cenedella]

@Kyle Woodruff

As others have mentioned Costar and CBRE are good sources.

High level broad brush, average cap rates across the US for apartments are approximately 5%. In dynamic highly sought after top tier markets - Phoenix, Dallas Ft Worth, Austin, Atlanta, I am seeing deals trade below 4% cap rates. In small smaller “slower” lower growth towns outside metro areas, you might see 7% cap rates.

In my local market, Greenville SC which is booming but certainly a tertiary market, cap rates are in the 5% range.