The city is forecast to move up three spots on the company's National Apartment Index, from No. 23 last year to No. 20 this year. Also according to the report, the multifamily investment outlook for this year is good, with long-term demand expected.

Last year, sales totaled more than $300 million--the highest in more than five years. The 10 biggest sales, which totaled nearly 3,000 units, accounted for $263 million of that. While the median price per unit of these 10 properties was $89,000, the median price for the remaining sales last year was $54,000, and just 650 units were reported sold. Overall, the median price per unit in the market fell last year to $55,000 from $57,000 the year before, the report explains.

This year's forecast also shows effective rents increasing 0.6% to $880 per month; the Boynton Beach/Delray Beach submarket continuing to see strong appreciation over the next several years; and employment growing 2.5% and the metro area adding 14,000 jobs.