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Richard C. Lee's Blog

By Rich Lee | Agent in Boston, MA

Massachusetts 6 Unit Multifamily Gross Rent Multipliers During 2011 Q1

Massachusetts Q1 2011 6 Unit Multifamily Income Properties Gross Rent Multipliers (GRM) have returned to levels close to that of 10 years ago.

Massachusetts Q1 6 Unit Multifamily Average Rents & Average Gross Rent MultipliersMassachusetts Q1 6 Unit Multifamily Average Rents & Average Gross Rent Multipliers

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.

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