Massachusetts Q1 2011 6 Unit Multifamily Income Properties Gross Rent Multipliers (GRM) have returned to levels close to that of 10 years ago.
6 Unit Multifamily Apartment Buildings have an average GRM of 5.9 for Q1 2011 versus a GRM of 10.3 at the peak back during Q1 of 2008. One of the main drivers of the GRM, average rents, were $757 per month. Rents have seen a slight dip for these apartment buildings over the last 3 years but remain above levels seen 10 years ago in the $500 to $600 per month range.
Data in this post is based on information provided to and compiled by MLS Property Information Network, Inc.