WeaveReport South Florida Multifamily Forecast
MIAMI-DADE MULTIFAMILY MARKET SUMMARY
$3,990,000,000
$13,600,000 2021 Average Sale Price
$252
$278,342
2021 Sales
2021 Average Sale PSF
2021 Average Sale Per Unit
$2,006
96.7%
7,415
135,168
Average Rent Per Unit
Occupancy Rate
Annual Unit Net Absorption Inventory of Rentable Units
MU LT I FAM I LY I NVE S TMENT | SOUTH F LOR I DA T E AM YEAR $ SALES VOLUME 2021 $3,991,147,090 2020 $990,181,876 2019 $987,767,879 2018 $929,233,163 2017 $1,525,635,308 2016 2015 $835,040,975 2014 $477,488,461
EFFECTIVE RENT GROWTH
ASKING RENT GROWTH
ASKING RENT PSF
NET ABSORP
NEW UNITS
EFFECTIVE RENT
EFFECTIVE RENT PSF
# OF SALES
TOTAL # OF UNITS
ASKING RENT
VACANCY
294 135,168 $2,006 $2.31 17.4% $1,997
$2.29
19.7% 3.2% 7,415 2,859
108 132,309 $1,708 $1.96 0.1% $1,668
$1.91
-1.3% 6.7% 3,852 5,024
169 127,285 $1,706 $1.95 1.9% $1,690 $1.94
3.0% 6.1% 2,987 4,492
155 122,793 $1,674 $1.92 2.1% $1,640 $1.88
2.2% 5.0% 4,069 2,921
160 119,872 $1,639 $1.88 2.2% $1,605 $1.84
1.9% 6.1% 2,258 3,083
$1,466,487,600 173 116,789 $1,604 $1.84 2.5% $1,575
$1.80
1.7% 5.6% 4,264 5,457
161
111,332 $1,565 $1.79 3.2% $1,549
$1.77
3.1% 4.8% 3,506 3,485
177 107,847 $1,516 $1.74 2.6% $1,502
$1.72
2.6% 4.9% 2,135 2,602
2013
$433,839,181
112 105,245 $1,478 $1.69 3.2% $1,464 $1.68
3.0% 4.6% 2,220 2,177
2012
$429,347,926
82 103,068 $1,432 $1.64 2.9% $1,421
$1.63
2.7% 4.8% 503 805
Miami-Dade Apartments Under Construction 68 apartment buildings BUILDING Alture Westland
# OF UNITS
EXPECTED COMPLETION
CITY
totaling 18,158 units under construction in Miami-Dade.
Hialeah
251
2022
AHS at Oak Enclave
Miami Gardens
420
2022
Soleste Spring
Little Havana
250
2022
The Trail – Phase I
Miami
84
2022
Amelia Plaza
Hialeah
30
2022
Miami-Dade Deliveries Versus Absorption
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Net Absorption (Units)
Deliveries (Units)
6
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