Cap Rate Data Source

[Nick Horob]

I'm looking to get into multi-family investing.  I would like to become very familiar with 2-3 markets/sub-markets in addition to my home market (Fargo, ND).  

I would like to research macro rental data and trends for markets across the US.  Is there a data source where I can find at what cap rates multi-families are trading in all the MSAs across the country?

I know there is no free lunch, but I'd like to try to compare cap rates to employment growth (or lack of) to try find markets that offer attractive risk-adjusted returns.  

[Joel Owens]

Business friendly state, landlord friendly tenant laws, fast eviction timelines also factor a lot into buying multifamily.

In general most warmer climate states are headed for growth as retirees in the tens of millions migrate to sunshine states. The rust belt states with cold weather except for urban core many of those markets are suffering and the economies and jobs are evaporating.

Almost all my clients are buying in warm climate states.