Why Florida - CW 2023 Q2 RFS

Multifamily Market Snapshot Q2 2023 948,000 UNITS Across 3,500 Properties EFFECTIVE RENT VS STABILIZED OCCUPANCY RATE

ABSORPTION VS COMPLETIONS

93.7%

80k

$ 2.0k

100 %

STABILIZED OCCUPANCY RATE Excludes Properties Still In Their Initial Lease-Up Period

$ 1.8k

60k

95 %

$ 1.6k

40k

90 %

Over $92.7 Billion In Sales Over The Past 5 Years

$ 1.4k

20k

85 %

$ 1.2k

0k

Sales Reached $32 Billion in 2021, representing 34.5% of Total Sales in The Past 5 Years

$ 1.0k

80 %

2018

2019

2020

2021

2022

2023 YTD

2018

2019

2020

2021

2022

2023 YTD

Effective Rent Per Unit

Stabilized Occupancy Rate

Construction Completions

Overall Net Absorption

Sales Volume Increased 135% From Year End 2018 – 2022

Over 144,000 Units Under Construction

Cushman & Wakefield | Why Florida

CoStar Data Depicted