Florida Logs Some of the Biggest Apartment Supply and Demand Nationwide

Florida logged considerable apartment demand in the year-ending 1st quarter 2025, at a pace that overtook sizable new supply volumes. Sun Belt states Texas and Florida have seen massive apartment delivery volumes over the past few years, spurred by sizable in-migration volumes and economic growth. Florida logged delivery of over 80,000 new apartments in the year-ending 1st quarter, ranking behind only Texas for supply volumes nationwide. But demand was even hotter, as Florida absorbed 89,000 units in the last year, topping concurrent delivery volumes by 10%. Only Texas beat Florida for apartment demand in the past 12 months as well. However, when looking at total absorption as a percentage of existing stock, Florida outpaced Texas by over 10 basis points in the year-ending 1st quarter. This solid demand performance across the Sunshine State has helped stabilize occupancy rates in the early months of 2025.

For more information on the state of the Florida apartment market, including forecasts, watch the webcast Market Intelligence: Q2 Florida Update.