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MULTIFAMILY INVESTMENT PROPERTIES GROUP
| SOUTH FLORIDA
MIAMI-DADE
MULTIFAMILY MARKET SUMMARY
YEAR $ SALES VOLUME
# OF
SALES
TOTAL #
OF UNITS
ASKING
RENT
ASKING
RENT
PSF
ASKING
RENT
GROWTH
EFFECTIVE
RENT
EFFECTIVE
RENT PSF
EFFECTIVE
RENT
GROWTH
VACANCY
NET
ABSORP
NEW
UNITS
2016 711,183,000 102 151,787 $1,247 $1.48
2.4% $1,211
$1.44
2.0% 2.5% 2,137 1,596
2015 918,139,900 148 150,303 $1,218 $1.44 7.9% $1,187
$1.41
6.7% 2.7% 3,016 3,356
2014 706,373,000 165 147,197 $1,129 $1.34
5.4% $1,112
$1.33
4.9% 2.6% 3,149 3,665
2013 550,882,000 114 144,127 $1,071 $1.28
5.0% $1,060
$1.27
5.3% 2.6% 2,064 1,666
2012 576,245,000 108 142,748 $1,020 $1.23
3.9% $1,007
$1.21
4.7% 2.8% 2,054 1,896
2011
236,787,200 84 141,402 $982
$1.18
3.3% $962
$1.16
3.6% 3.2% 1,251
1,703
2010 202,912,833 57 140,579 $951
$1.15
1.5% $929
$1.13
2.0% 3.3% 1,947 922
2009 188,255,924 41
139,785 $937
$1.14
-2.9% $911
$1.10
-1.9% 4.1% 1,950 2,120
2008 122,251,200 50 137,885 $965
$1.17
-0.9% $929
$1.13
-2.1% 4.3% 514 1,790
2007 366,148,835
66 136,177 $974
$1.18
N/A $949
$1.15
N/A 3.8% -13
1,624
$710 MILLION $6.97 MILLION
$178 PSF
$125,000
2016 Sales
2016 Average Sale Price YTD Median Average Sale PSF YTD Median Sale per Unit
$1,247
97.5%
2,137 UNITS
151,787 UNITS
Average Rent Per Unit
Occupancy Rate
Annual Unit Net Absorption Inventory of Rentable Units
Miami-Dade Apartments Under Construction
24
apartment buildings
totaling
9,023
units under construction
in Miami-Dade
BUILDING
CITY
# OF
UNITS
EXPECTED
COMPLETION
Soleste Prado
Miami
194 2017
Modera Station II
Coral Gables
181
2017
Panorama Tower
Miami
821
2017
Solitair Brickell
Miami
438 2018
Gables Aventura
Aventura
400 2017
Miami-Dade Deliveries Versus Absorption
-500
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Net Absorption (Units)
Deliveries (Units)