Market Report
Fort Lauderdale Multifamily Market Report
2025 Investment Forecast
Investors Expected to Re-Engage Urban
Assets as a Growing Renter Pool Tightens Market
Improvements in tourism-related hiring lift rental demand. With a lower cost of doing business than Miami, Fort Lauderdale’s workforce will grow by over 2 percent in 2025 — the fastest pace in Southeast Florida and sixth among major U.S. markets. With Disney homeporting a second ship this year and the completion of a $1.3 billion expansion of Broward County Convention Center, job opportunities are emerging in the metro’s tourism industry. Firms like the aerospace company CTS Engines will also create high-paying roles outside this sector, while employers seeking talent amid a tight labor market will keep in-migration elevated by recruiting from outside the metro. Moreover, high home prices are likely to steer many of these new residents to apartments, fueling demand for the over 4,000 units slated for delivery in 2025. New supply mainly consists of projects in downtown Fort Lauderdale, Hollywood and Pompano Beach. Inventory growth will only slightly outpace the 10-year average of 1.8 percent, however, due to natural land constraints. As a result, new Class A apartments should generally be well received, though the Class C sector is poised to outperform amid growing renter demand for lower-cost housing.
TO READ THE FULL ARTICLE
