$0
Average Rent
$2,399 average rent in Miami, Q1 2026
0%
Occupancy Rate
93% occupancy rate Miami, Q1 2026
0
T4Q Net Absorption
11,824 T4Q net absorption in Miami, Q1 2026
0%
Annual Rent Change
0% annual rent change in Miami, Q1 2026
0
BPS Annual Occupancy Change
-20 BPS annual occupancy change in Miami, Q1 2026
0
T4Q Unit Completions
13,543 T4Q net absorption in Miami, Q1 2026
KEY TAKEAWAYS
- Demand accelerated in Q1 2026, with 3,848 units absorbed — up from 3,033 in Q4 2025 — marking four consecutive quarters of positive net absorption. Trailing 12-month demand reached 11,824 units, though still trailing the 13,543 units delivered over the same period.
- The supply cycle is clearly downshifting. Trailing 12-month starts have fallen to 10,343 units from 14,834 a year ago, and the under-construction pipeline has contracted to 25,994 units (5.9% of inventory) — down 5% over four quarters — pointing toward easing delivery pressure into 2027.
- Rents have stabilized at $2,399 per unit, with a 0.8% quarterly gain marking the first meaningful sequential increase in over a year. Occupancy of 92.6% — up 10 basis points quarter-over-quarter — suggests the market is incrementally firming despite the ongoing delivery cycle.
MARKET OUTLOOK
South Florida’s multifamily market is navigating the final leg of an extended supply cycle, and the data increasingly supports a measured optimism…
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