Florida was one of the nation's multifamily performance leaders over the past year with exceptional demand driving never-before-seen rent growth and occupancy readings.
But sluggish leasing activity challenged Florida markets in the second half of 2022, resulting in some questions as the 2023 peak leasing season approaches.
Can these markets maintain enough demand to match aggressive construction activity in the next 12 to 24 months? Do other factors like slowing migration, economic uncertainty and rising interest rates influence renter and investor outlooks in the coming year?
Multifamily markets in this educational update include:
- Cape Coral/Fort Myers
- Destin (Crestview)
- Deltona-Daytona Beach
- Fort Lauderdale
- Gainesville
- Jacksonville
- Lakeland
- Miami
- Naples
- Orlando
- Palm Bay
- Panama City
- Pensacola
- Port St. Lucie
- Sarasota
- Tampa
- Tallahassee
- West Palm Beach
Carl Whitaker is a Real Estate Economist with RealPage’s Data Analytics division. At RealPage, Carl has specialized in creating industry presentations, market and submarket trend reports and crafting ways in which data can be more easily consumed and leveraged by clients. Carl holds degrees from the University of North Texas, including a Master of Science in Applied Geography.
Natalie Long
Director of Client Success, Market Analytics, RealPage, Inc.Natalie Long manages client services for the Market Analytics platform in the RealPage Asset Optimization suite. Natalie focuses on empowering clients and their businesses through the use of macro analytics in apartment fundamentals, forecasts and capital markets. Prior to her role in client services, Natalie spent two years as an analyst in RealPage’s market intelligence division following three years as a senior appraisal analyst for JPMorgan Chase. Natalie holds a bachelor’s degree in communications and a master’s degree in real estate from Texas A&M University.
