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Apartment construction surges nationwide and in South Florida

U.S. apartment construction is projected to exceed 500,000 new units in 2024, marking a 9% increase from last year and a 30% rise from 2022, with South Florida contributing significantly. The Miami area is expected to complete over 14,100 apartments, ranking it ninth among major metros. Nationwide, over 2 million new apartments are anticipated by 2028, although construction rates may decline from 2025 to 2027 due to higher borrowing costs, prompting developers to adjust strategies towards lower-risk projects and markets with strong demand.

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All Real Estate Transactions are BROKERED by Real Broker LLC.

All Residential Mortgage Transactions are BROKERED by U.S. FINANCE GROUP, LLC (NMLS ID: 26140)

All other services & lending products are brokered by Miami Beach Brokers LLC unless otherwise disclosed.

Miami Beach Brokers® & the Miami Beach Brokers® logo are registered trademarks of Metro International Investments. All rights are reserved.

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