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South Florida
Multifamily Market Report | Q3 2024
Net Absorption
17,096
UNITS
During the Trailing Four Quarters
Net Absorption
17,096
UNITS
During the Trailing Four Quarters
Net Absorption
17,096
UNITS
Effective Rent
$2,520
UP 0.3% YOY
$8 YOY
Effective Rent
$2,520
UP 0.3% YOY
$8 YOY
Effective Rent
$2,520
up 0.3% yoy
Occupancy
94.7%
UNCHANGED YOY
Occupancy
94.7%
UNCHANGED YOY
Occupancy
94.7%
UNCHANGED yoy
Employment
2,987,200
up 2.2% YOY
65,300 JOBS
During the
Trailing 12 Months
Employment
2,987,200
up 2.2% YOY
65,300 JOBS
During the
Trailing 12 Months
Employment
2,987,200
up 2.2% YOY
Households
2,426,300
Up 1.8% YOY
41,900 UNITS
During the
Trailing 12 Months
Households
2,426,300
Up 1.8% YOY
41,900 UNITS
During the
Trailing 12 Months
Households
2,426,300
Up 1.8% YOY
Inventory
670,814
Up 2.8% YOY
18,285 UNITS
During the Trailing Four Quarters
Inventory
670,814
Up 2.8% YOY
18,285 UNITS
During the Trailing Four Quarters
Inventory
670,814
Up 2.8% YOY
Class A
Class B
Class C
Source: RealPage
Note: Effective rent and occupancy reflect stabilized properties and does not include preleased units or properties in lease-up. A newly constructed property is considered stabilized once it becomes 85% occupied.
Class A
Class B
Class C
Source: RealPage
Note: Effective rent and occupancy reflect stabilized properties and does not include preleased units or properties in lease-up. A newly constructed property is considered stabilized once it becomes 85% occupied.
Effective Rent by Class
Occupancy by Class
Sources: Berkadia; RealPage; Moody's Analytics; Federal Reserve Bank of St. Louis
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