Miami Multifamily Market Report – October 2025

Miami Maintains Solid Position

The Miami multifamily market maintained its strength, with an overall positive performance, according to the latest Yardi Matrix Miami multifamily market report Average advertised asking rates were down 0.2% on a trailing three-month basis through August, to $2,500, while the U.S. figure improved just 0.1%, according to the U.S. multifamily report. Nevertheless, the latest Matrix forecast projects metro Miami rent growth at 0.9% for the year.

South Florida employment rose 1.2% through June, 40 basis points above the national rate. Education and health services led growth, accounting for 13,400 of the 43,900 net positions added and marking a 2.9% yearly expansion. The area’s unemployment rate stood at 3.4% as of July, 80 basis points below the U.S. figure, according to preliminary data from the Bureau of Labor Statistics. A proposal has been submitted for the $10 billion redevelopment of Metrocenter in downtown Miami. Plans call for a transit-oriented district that would include residential units, a Downtown Intermodal Terminal, a cultural arts campus, a 45,000-square-foot recreation and wellness center and 60,000 square feet of office space.

With 7,725 units, or 2.0% of existing stock, delivered in 2025 through August in South Florida, the area outpaced the nation by just 10 basis points. Meanwhile, transaction activity picked up the pace, with $2.1 billion in assets changing hands, approaching the $2.5 billion average recorded over the past two years.

Read the full Yardi Matrix Miami Multifamily Market Report: October 2025