Multifamily demand strengthened in Q3, as South Florida recorded 2,755 units of net absorption, up from 2,340 in the prior quarter, reflecting steady renter activity even amid softening labor market conditions nationwide.
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South Florida’s construction pipeline equals over 7% of existing inventory, ranking the region second nationally for construction intensity behind Charlotte, NC (8.1%). Historically, active construction averaged about 22,000 units annually (2015–2019), placing current development levels roughly 38% above pre-pandemic norms.
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Despite maintaining one of the largest construction pipelines in the nation, South Florida continues to show resilience amid elevated supply pressures. In Q3 2025, the region’s stabilized occupancy measured 94.5%, a full percentage point above the U.S. average.
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MARKET OUTLOOK
The outlook for South Florida’s multifamily market remains balanced, reflecting near-term caution but strong long-term fundamentals...
