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Market Report

Fort Lauderdale Multifamily Market Report

2Q 2022

Low Availability and Robust Rent Growth Continue as Broward County Takes on More Residents

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.
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