Miami Multifamily Report – October 2025
Multifamily sales have picked up the pace in South Florida.
The Miami multifamily market maintained its strength, with an overall positive performance. Average advertised asking rates were down 0.2 percent on a trailing three-month basis through August, to $2,500, while the U.S. figure improved just 0.1 percent. Nevertheless, the latest Matrix forecast projects metro Miami rent growth at 0.9 percent for the year.
South Florida employment rose 1.2 percent through June, 40 basis points above the national rate. Education and health services led growth, accounting for 13,400 of the 43,900 net positions added and marking a 2.9 percent yearly expansion. The area’s unemployment rate stood at 3.4 percent as of July, 80 basis points below the U.S. figure, according to preliminary data from the Bureau of Labor Statistics. A proposal has been submitted for the $10 billion redevelopment of MetroCenter in downtown Miami. Plans call for a transit-oriented district that would include residential units, a Downtown Intermodal Terminal, a cultural arts campus, a 45,000-square-foot recreation and wellness center and 60,000 square feet of office space.
With 7,725 units, or 2.0 percent of existing stock, delivered in 2025 through August in South Florida, the area outpaced the nation by just 10 basis points. Meanwhile, transaction activity picked up the pace, with $2.1 billion in assets changing hands, approaching the $2.5 billion average recorded over the past two years.
