Why Florida

Multifamily Market Snapshot Q1 2025

STABILIZED OCCUPANCY RATE Excludes Properties Still In Their Initial Lease-Up Period 93.0% 1,094,704 UNITS Across 4,004 Properties

EFFECTIVE RENT VS STABILIZED OCCUPANCY RATE

ABSORPTION VS COMPLETIONS

100k

$ 2.5k

97 %

80k

96 %

$ 2.0k

95 %

60k

$ 1.5k

94 %

OVER $86.5 BILLION IN SALES OVER THE PAST 5 YEARS

40k

$ 1.0k

93 %

20k

$ 0.5k

92 %

Market Asking Rent Per Unit by Bedroom 5-Year Increase Comparison: Studio 23.8% $1,665 1 Bedroom 26.8% $1,758 2 Bedroom 27.0% $2,093 3 Bedroom 25.9% $2,506

0k

$ 0.0k

91 %

2021

2022

2023

2024

2025 YTD

2021

2022

2023

2024

2025 YTD

Effective Rent Per Unit

Stabilized Occupancy Rate

Construction Completions

Overall Net Absorption

Nearly 90,723 Units Under Construction

Sources: CoStar, Cushman & Wakefield Research

Cushman & Wakefield | Why Florida