South Florida is projected to deliver 14,177 apartments by the end of 2024, ranking ninth in the U.S. for new apartment completions. The new apartments will open in a highly competitive rental market with a 19:1 apartment searcher to vacant apartment ratio.
Despite this influx of new apartments, the report notes it won't fully satisfy demand. Looking ahead, South Florida is projected to build 75,736 new apartments between 2024 and 2028, ranking fourth in the U.S. This surpasses the 73,471 units built from 2019 to 2023.
Sign up for Florida of Tomorrow's free newsletter below to receive the latest real estate and new business information shaping the Florida of Tomorrow.
_edited.jpg)