WRE News: South Florida to Deliver Over 14,000 New Apartments Amid Surging Demand

Miami, FL – August 19, 2024 – South Florida’s apartment market is booming with over 14,000 new units set to be completed by the end of the year — 5,000 of them in Miami alone.

These 14,177 new apartments will position South Florida ninth in the nation for new apartment completions in 2024. Despite this significant addition, the demand remains high, with a staggering 19 apartment seekers for every vacant unit.

Looking ahead, the region is expected to construct 75,736 more apartments from 2024 to 2028, surpassing the 73,471 units built in the previous five years, highlighting the persistent and growing demand for housing in the area.