{"id":2093,"date":"2021-10-27T12:09:00","date_gmt":"2021-10-27T12:09:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=2093"},"modified":"2024-02-06T10:59:24","modified_gmt":"2024-02-06T10:59:24","slug":"miami-multifamily-market-report-fall-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/","title":{"rendered":"Miami Multifamily Market Report \u2013 Fall 2021"},"content":{"rendered":"<h2>Rents, Values Climb As Demand Holds<\/h2>\n<p><strong>Miami\u2019s rental market is overperforming in 2021<\/strong>, largely on the back of accelerated demand generated by incoming residents. Despite solid supply additions throughout the cycle, demand has maintained rent growth at some of the highest levels in the nation, with improvement at 2.8% on a trailing three-month basis. Meanwhile, year-over-year growth hit 17.5% as of August, pushing the average overall rent to $1,992.<\/p>\n<p>Miami\u2019s economy is finally ready to trend back upward, after the employment rate was down just 4 basis points year-over-year as of June. With only two employment sectors\u2014government and construction\u2014losing positions through the interval, and the metro\u2019s unemployment rate down to 5.7% as of July, it is likely that the bulk of losses has been curbed. With capital improvement plans worth $5 billion underway at Miami International Airport and $137 million in funds from the American Rescue Plan Act coming to the city of Miami, the market\u2019s main economic drivers are ready to steadily gain ground.<\/p>\n<p>Multifamily investment is overperforming in 2021, with $4.2 billion in deals recorded through August, already $1.3 billion over the previous five-year annual average. Development is also up, with<br \/>\n39,921 units underway as of August and an additional 215,000 apartments in the planning and permitting stages.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1346-MatrixMultifamilyMiamiReport-Fall2021?utm_source=Matrix-Blog&amp;utm_medium=Social\"><strong>Matrix Multifamily Miami Report-Fall 2021<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rents, Values Climb As Demand Holds Miami\u2019s rental market is overperforming in 2021, largely on the back of accelerated demand generated by incoming residents. Despite solid supply additions throughout the cycle, demand has maintained rent growth at some of the highest levels in the nation, with improvement at 2.8% on a trailing three-month basis. Meanwhile, [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":2094,"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-2093","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":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Miami Multifamily Market Report \u2013 Fall 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Miami Multifamily Market Report \u2013 Fall 2021\" \/>\n<meta property=\"og:description\" content=\"Rents, Values Climb As Demand Holds Miami\u2019s rental market is overperforming in 2021, largely on the back of accelerated demand generated by incoming residents. Despite solid supply additions throughout the cycle, demand has maintained rent growth at some of the highest levels in the nation, with improvement at 2.8% on a trailing three-month basis. Meanwhile, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-27T12:09:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-06T10:59:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/10\/Miami-iStock-1341980349.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alex Girda\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Miami Multifamily Market Report \u2013 Fall 2021 - Yardi Matrix Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/","og_locale":"en_US","og_type":"article","og_title":"Miami Multifamily Market Report \u2013 Fall 2021","og_description":"Rents, Values Climb As Demand Holds Miami\u2019s rental market is overperforming in 2021, largely on the back of accelerated demand generated by incoming residents. Despite solid supply additions throughout the cycle, demand has maintained rent growth at some of the highest levels in the nation, with improvement at 2.8% on a trailing three-month basis. Meanwhile, [&hellip;]","og_url":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-10-27T12:09:00+00:00","article_modified_time":"2024-02-06T10:59:24+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/10\/Miami-iStock-1341980349.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Alex Girda","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Miami Multifamily Market Report \u2013 Fall 2021","datePublished":"2021-10-27T12:09:00+00:00","dateModified":"2024-02-06T10:59:24+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/"},"wordCount":215,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/10\/Miami-iStock-1341980349.jpg","keywords":["Miami","Multifamily Outlook 2021"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/","url":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/","name":"Miami Multifamily Market Report \u2013 Fall 2021 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/10\/Miami-iStock-1341980349.jpg","datePublished":"2021-10-27T12:09:00+00:00","dateModified":"2024-02-06T10:59:24+00:00","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/10\/Miami-iStock-1341980349.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/10\/Miami-iStock-1341980349.jpg","width":1200,"height":628,"caption":"Image by Visuals Fervor LLC\/iStockphoto"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-fall-2021\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Miami Multifamily Market Report \u2013 Fall 2021"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0","name":"lilianam","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","caption":"lilianam"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/10\/Miami-iStock-1341980349.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/2093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/650"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=2093"}],"version-history":[{"count":2,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/2093\/revisions"}],"predecessor-version":[{"id":4255,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/2093\/revisions\/4255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/2094"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=2093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=2093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=2093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}