Florida Apartment Construction Ramps Up
Apartment construction is soaring across the state of Florida. Multifamily development pipelines in the largest metros have generally reached totals not seen in decades, and some smaller markets register unprecedented building activity in process.
With huge renter demand for apartments realized over the past couple years, the state is starving for additional supply right now. Still, inventory growth of the magnitude that lies just ahead is bound to push up vacancy to some degree and take some momentum off rent growth.