Why Florida

Multifamily Market Snapshot Q3 2024 1,060,237 UNITS Across 3,894 Properties EFFECTIVE RENT VS STABILIZED OCCUPANCY RATE

ABSORPTION VS COMPLETIONS

93.1%

80k

$ 2.5k

97 %

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

96 %

$ 2.0k

60k

95 %

$ 1.5k

40k

94 %

Over $86.2 Billion In Sales Over The Past 5 Years

$ 1.0k

93 %

20k

$ 0.5k

92 %

Market Asking Rent Per Unit by Bedroom 5-Year Increase Comparison: Studio 24.3% $1,625 1 Bedroom 26.0% $1,705 2 Bedroom 26.5% $2,036 3 Bedroom 25.5% $2,437

0k

2020

2021

2022

2023

2024 YTD

$ 0.0k

91 %

2020

2021

2022

2023

2024 YTD

Effective Rent Per Unit

Stabilized Occupancy Rate

Construction Completions

Overall Net Absorption

Nearly 93,000 Units Under Construction

Cushman & Wakefield | Why Florida

CoStar Data Depicted