Demand, Supply Still Sky High in Miami
MultiHousing News | March 30, 2018
Miami’s multifamily market is heading into a healthy 2018. It displays solid fundamentals and a diverse economic profile, although it remains challenged by a substantial amount of new supply. While rent growth started decelerating in mid-2016, population and job gains have been cushioning the drop, producing healthy demand and ensuring that new units are slowly but steadily absorbed. The metro’s average rent climbed to $1,593 as of January, up 1.8 percent in 12 months.