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Category: Apartments, Multifamily Tags: Apartments, Miami, Multifamily

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Miami-Dade County is one of the ten largest in the U.S. by population. The market sees surging demand, rent growth, and net absorption in 2021, following a virtually inactive 2020. In the last 12 months, 14,000 units have been absorbed, pushing vacancies to 3.7 percent. Rent gains are considerable, growing 14.7 percent year-over-year. Miami has bounced back from the effects of the COVID-19 pandemic, and developers have been active, with 14,306 units currently under construction. Job growth has improved significantly, with the metro gaining 13,000 jobs in August 2021. Office-using jobs have helped Miami’s economic recovery with employment above pre-pandemic levels in professional and business services and financial activities sectors. Microsoft and Blackstone have leased sizeable spaces, expecting to bring hundreds of high-paying jobs to the metro.

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