{"id":5030,"date":"2022-11-17T15:59:11","date_gmt":"2022-11-17T15:59:11","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=5030"},"modified":"2023-09-13T04:56:36","modified_gmt":"2023-09-13T04:56:36","slug":"miami-multifamily-market-report-october-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-october-2022\/","title":{"rendered":"Miami Multifamily Market Report &#8211; October 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">South Florida Maintains Growth Pace<\/h2>\n\n\n\n<p>Following an<strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/miami-housing-market-trends-february-2022\/\"> exceptional performance in 2021<\/a><\/strong>, South Florida\u2019s multifamily market cooled to a more sustainable pace of growth. Overall rents grew 0.4% on a trailing three-month basis through August\u201420 basis points behind the U.S. rate\u2014to <strong>$2,344<\/strong>. Year-over-year among large U.S. metros, only Orlando (16.9%) posted stronger growth than Miami (16.7%).<\/p>\n\n\n\n<p>Trade, transportation and utilities (41,700 jobs) led to <strong>employment gains<\/strong> in the 12 months ending in June, followed by leisure and hospitality (38,400 jobs). The metro\u2019s travel industry rebounded rapidly, with traffic through Miami International Airport at 25.5 million passengers in the first half of the year. With business-friendly laws and top universities, Miami has been steadily growing its tech scene, fueled by the wide adoption of remote and hybrid work models. Tech trade association CompTIA found that a fifth of the 10,522 new tech jobs that Florida added last year were in Miami. The Sunshine State trailed only Texas (10,851 positions) in tech job growth in 2021, with California (5,165 new jobs)\u2014a global tech staple\u2014ranking third nationally.<\/p>\n\n\n\n<p><strong>Multifamily development shifted down a gear. <\/strong>Following the 18,070-unit record supply added to the metro\u2019s inventory in 2021, only 9,351 apartments came online in Miami this year through August. Meanwhile, at $4.7 billion, investment volume was on par with 2021\u2019s first eight months.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/2938-MatrixMultifamilyMiamiReport-October2022\">Matrix Multifamily Miami Report-October 2022<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>South Florida Maintains Growth Pace Following an exceptional performance in 2021, South Florida\u2019s multifamily market cooled to a more sustainable pace of growth. Overall rents grew 0.4% on a trailing three-month basis through August\u201420 basis points behind the U.S. rate\u2014to $2,344. Year-over-year among large U.S. metros, only Orlando (16.9%) posted stronger growth than Miami (16.7%). [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":5031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[455,444],"class_list":["post-5030","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-2022"],"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 - October 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Despite a significant slowdown during the summer, Miami\u2019s rent growth ranked among the national leaders on a year-over-year basis.\" \/>\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-october-2022\/\" \/>\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 - October 2022\" \/>\n<meta property=\"og:description\" content=\"Despite a significant slowdown during the summer, Miami\u2019s rent growth ranked among the national leaders on a year-over-year basis.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-october-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-17T15:59:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T04:56:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/11\/Miami-iStock-1428892339.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\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=\"Laura Calugar\" \/>\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 - October 2022 - Yardi Matrix Blog","description":"Despite a significant slowdown during the summer, Miami\u2019s rent growth ranked among the national leaders on a year-over-year basis.","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-october-2022\/","og_locale":"en_US","og_type":"article","og_title":"Miami Multifamily Market Report - October 2022","og_description":"Despite a significant slowdown during the summer, Miami\u2019s rent growth ranked among the national leaders on a year-over-year basis.","og_url":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-october-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-11-17T15:59:11+00:00","article_modified_time":"2023-09-13T04:56:36+00:00","og_image":[{"width":1200,"height":627,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/11\/Miami-iStock-1428892339.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Laura Calugar","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-october-2022\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/miami-multifamily-market-report-october-2022\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Miami Multifamily Market Report &#8211; 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