Miami's Best Multifamily Days Yet to Come?

MIAMI—For all the talk about Miami’s booming multifamily market, a new report suggest the best may be yet to come. According to Marcus & Millichap‘s second quarter Miami apartment market report, low vacancy and a brighter outlook are pulling investors into the county.

“After grinding away at a sluggish pace since the end of the recession, the Miami-Dade economy continues to accelerate behind more vigorous hiring, favorable demographics and a recovering housing market,” the report reads. “These trends have made the Miami-Dade apartment sector one of the strongest in the country, with vacancy dropping to roughly 200 basis points below the nationwide level at the end of the first quarter.”