Why South Florida

MULTIFAMILY MARKET SNAPSHOT - Q1 2025

293,641 UNITS Across 1,381 Properties

Effective Rent vs Stabilized Occupancy Rate EFFECTIVE RENT VS STABILIZED OCCUPANCY RATE

Absorption vs Completions ABSORPTION VS COMPLETIONS

25,000

94.7%

93.0% 93.5% 94.0% 94.5% 95.0% 95.5% 96.0% 96.5% 97.0% 97.5%

1,000 1,500 2,000 2,500 3,000

20,000

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

15,000

10,000

5,000

- 500

-

2020

2021

2022

2023

2024 2025 YTD Q1 2025

OVER $26.7 BILLION In Sales Over The Past 5 Years

2020

2021

2022

2023

2024

2025 YTD

Effective Rent Per Unit

Stabilized Occupancy Rate

Construction Completions

Overall Net Absorption

Market Asking Rent Per Unit by Bedroom

5-Year Increase

1Q 2020 Rent

Studio

$2,124

24.8% $1,702

1 Bedroom 2 Bedroom 3 Bedroom

$2,255

30.2% $1,732

$2,710

32.2% $2,050 31.4% $2,567

$3,374

ALMOST 38,000 UNITS Currently Under Construction

Source: CoStar

Cushman & Wakefield | Why South Florida

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