Fort Lauderdale Multifamily Market Report

Steady demographic, employment gains keep vacancy tight. Swift employment resurgences in office-using sectors positioned the metro’s Class A segment for substantial vacancy compression over the past 12 months, pushing rent growth in amenity-rich buildings ahead of Class B and Class C properties. Moving forward, extant gaps between current employment levels and pre-pandemic figures in the metro’s service sectors indicate lower-tier assets are poised for some additional momentum, as businesses in these segments accelerate hiring in response to an increase in tourism. With just 1.6 percent of the metro’s Class C stock available as of the end of last year, continued hospitality recovery could push vacancy in this tier to record tightness.