Net absorption reached 1,767 units in the first half of 2025, surpassing the 975 units delivered during the same period. This positive demand-supply imbalance reflects improved market fundamentals and a more favorable leasing environment for operators.
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Just under 1,300 units remain under construction across the region, a moderate pipeline that indicates increased caution among developers in response to elevated financing costs and shifting market dynamics.
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Although rents declined 2.4% year-over-year, a quarterly increase of 1.2% from Q1 to Q2 signals improving market conditions and potential for rent growth in the near term as development activity moderates.
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Despite a 2.4% year-over-year decline in average rents, the Florida Panhandle market posted a 1.2% gain from Q1 to Q2, suggesting early signs of stabilization. This quarterly uptick, coupled with tapering development activity, points to potential rent growth opportunities in the near term.
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MARKET OUTLOOK
Multifamily fundamentals in the Florida Panhandle appear positioned for gradual stabilization through the remainder of 2025...
