MARKET SNAPSHOT

Miami q2 2026

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AVERAGE RENT

$2,380 Q2 2026

OCCUPANCY RATE

94.6% Q2 2026

NET ABSORPTION

7,608 T4Q

ANNUAL RENT CHANGE

-0.2% Q2 2026

ANNUAL OCCUPANCY CHANGE

10 BPS

UNIT COMPLETIONS

7,847 T4Q

KEY TAKEAWAYS

Trailing 12-month absorption of 7,608 units has nearly matched the 7,847 units delivered, bringing Miami's multifamily market to near-equilibrium as demand strengthens across all 16 tracked submarkets.

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The construction pipeline is contracting—trailing 12-month starts fell to 6,813 units from 8,592 a year ago, while 15,481 units remain under construction (7.3% of inventory), signaling the market is moving past peak supply pressure.

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Rents have stabilized at $2,380 per unit with two consecutive quarters of positive momentum, while occupancy of 94.6% has improved 10 basis points year over year.

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MARKET OUTLOOK

Miami's multifamily market is in the late stages of its supply cycle, with deliveries and starts both declining. The 15,481 units under construction (7.3% of inventory) will sustain elevated completions through mid-2027...

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