Connecticut Multifamily Market Report
By PropZone Research · Data through Q4 2023 · Aggregated from Cushman & Wakefield, Lee Associates
Quarterly multifamily market indicators for Connecticut, aggregated by PropZone from Cushman & Wakefield, Lee Associates. As of Q4 2023, average asking rent was — with a 29.0% vacancy rate.
Projected current multifamily pricing — Connecticut
low confidenceProjected asking rent
$2,185/unit/mo
Estimated sale value
$278,748–$348,435/unit
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q4 2023 multiple brokerages data (cap rate 4.5%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q4 2023 | — | 29.0% | -1K SF | — | Cushman & Wakefield |
| Q4 2023 | $2185.00/SF | 7.0% | 1K SF | — | Lee Associates |
Frequently asked questions
- What is the average asking rent for multifamily space in Connecticut?
- PropZone aggregates multifamily asking-rent data for Connecticut from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the multifamily vacancy rate in Connecticut?
- The multifamily vacancy rate in Connecticut was 29.0% as of Q4 2023 (Cushman & Wakefield).
- Where does PropZone's Connecticut market data come from?
- This report aggregates quarterly multifamily market data for Connecticut from Cushman & Wakefield, Lee Associates.
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