Multifamily demand has rebounded across South Florida, with net absorption outpacing new deliveries through the first half of 2025 following a steady recovery since 2022.
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Construction activity remains elevated across South Florida in 2025, with Fort Lauderdale and Miami seeing a surge in new starts despite a national slowdown—Miami alone has already reached 80% of its 2024 total starts in the first half of the year.
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Rent growth remains subdued across South Florida, with Palm Beach and Fort Lauderdale posting decade-low gains under 0.5% in Q2 2025, while Miami saw modest growth of 1.3.
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MARKET OUTLOOK
The outlook for South Florida’s multifamily market is mixed, with both near-term caution and long-term strength in play...
