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Multifamily Is Driving Florida Markets

MIAMI—Miami apartment rents hit new highs. Orlando multifamily draws investors. Job growth drives Atlanta's apartment vacancy down.

By Jennifer LeClaire | Updated on April 01, 2013

MIAMI—Fannie and Freddie posted record years for multifamily business volume in 2012—and the Southeast drove more than its fair share. From Miami to Atlanta, and even to smaller Southeast markets like Raleigh, NC and Memphis, the multifamily revival is not only real, it appears sustainable as well.

The Southeast’s multifamily sector is poised to see the highest level of sales transactions since 2005. So says a new report from Jones Lang LaSalle’s Southeast Multifamily group. Vacancy rates are at their lowest point since early 2008 and rents have experienced consistent gains each quarter since 2010.

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