New York City is the top metro for multifamily investing this year, as high housing demand and a relatively stable rental market buoy the sector there.

According to Crexi data, asking prices for NYC multifamily properties have gone up 13% so far year over year, with average occupancy levels climbing to approach 79.1% on average versus 74% in 2021. In its ranking of the top 10 cities for multifamily investment, Crexi notes that the city is “known as a city of renters” where 67% of households rent rather than own while rents have increased 27% year-over-year, “offering a predictable rental income stream that multifamily investors seek.”

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Lynn Pollack

 

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