Read the latest Yardi Matrix Miami Multifamily Market Report
Occupancy, Asking Rents Withstand Deliveries
South Florida’s performance at the start of the second quarter kept the metro’s fundamentals in balance, according to the latest Yardi Matrix Miami multifamily market report. Average advertised asking rents were up 0.1%, on a trailing three-month basis, to $2,500, while the U.S. figure was up 0.2% to $1,736. Occupancy in stabilized properties decreased 10 basis points year-over-year, but was still above the nation’s 94.4%, according to the U.S. multifamily report.
Miami employment was up 1.2% as of February, clocking in 30 basis points above the U.S. average. The metro added 32,300 net jobs over 12 months, as trade, transportation and utilities led gains with 12,900 positions. Miami’s unemployment rate stood at 3.0% as of April, 120 basis points below the national figure, according to preliminary data from the Bureau of Labor Statistics. New, larger projects in South Florida include a 60-acre technology and entertainment campus planned for Fort Lauderdale, Fla. Infinite Realty and Sterling Bay are developing the project, which is expected to generate more than 1,000 jobs in the area.
With 2,872 units, or 0.8% of existing stock, delivered this year through April, South Florida mirrored national figures. Meanwhile, transaction volume is showing improvement, with close to $1 billion in assets changing hands through the first four months of the year. For comparison, only $377 million in multifamily assets traded during the same time frame in 2024.
Read the full Yardi Matrix Miami Multifamily Market Report: June 2025
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