{"id":1238,"date":"2021-06-28T11:59:22","date_gmt":"2021-06-28T11:59:22","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=1238"},"modified":"2024-02-06T11:16:31","modified_gmt":"2024-02-06T11:16:31","slug":"miami-multifamily-market-report-summer-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-summer-2021\/","title":{"rendered":"Miami Multifamily Market Report \u2013 Summer 2021"},"content":{"rendered":"\n

Positive Performance Indicators Hold<\/h3>\n\n\n\n

South Florida\u2019s rental market showed strong signs of recovery<\/strong> in the first four months of the year, steadily rebounding from the pandemic. Miami led gateway markets with 0.8% rent growth on a trailing three-month basis through April, with Chicago (0.5%) and Boston (0.4%) also showing solid gains.<\/p>\n\n\n\n

Miami\u2019s unemployment rate has improved steadily over the past few months, hitting 8.2% in March, according to preliminary BLS data. Several companies have traded New York City and Silicon Valley for South Florida in the past 15 months, including investment firm Colony Capital and edge fund Elliott Management. Others, such as Goldman Sachs and Blackstone, are opening new offices in Miami. One factor fueling interest is Miami Downtown Development Authority\u2019s Follow the Sun initiative, which provides economic incentives to eligible businesses creating jobs that pay a minimum salary of $68,000 per year. Meanwhile, according to allocation information published by the Treasury Department, Miami-Dade County will receive $528 million from the $350 billion pandemic recovery program that the Biden administration signed into law in March as part of the response to the coronavirus pandemic.<\/p>\n\n\n\n

The metro\u2019s business-friendly environment and steady demographics are likely to support demand for multifamily rentals going forward. Yardi Matrix expects rents to improve 3.6% in 2021.<\/p>\n\n\n\n

Read the full Matrix Multifamily Miami Report-Summer 2021<\/a><\/strong><\/p>\n\n\n\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Positive Performance Indicators Hold South Florida\u2019s rental market showed strong signs of recovery in the first four months of the year, steadily rebounding from the pandemic. Miami led gateway markets with 0.8% rent growth on a trailing three-month basis through April, with Chicago (0.5%) and Boston (0.4%) also showing solid gains. Miami\u2019s unemployment rate has […]<\/p>\n","protected":false},"author":650,"featured_media":1239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[455,221],"class_list":["post-1238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-miami","tag-multifamily-outlook-2021"],"yoast_head":"\nMiami Multifamily Market Report \u2013 Summer 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Gateway markets continued to recover this month, with Miami leading the way. 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