Scholastica (Gay) D. Cororaton, CBE’s Post

View profile for Scholastica (Gay) D. Cororaton, CBE, graphic

Chief Economist, MIAMI REALTORS

Asking #rents are rising again in Southeast Florida after last year's downturn. The median #multifamily asking rents rose from the prior month in March 2024 in the counties of #MiamiDade (1.8%), #Broward (1.9%), #PalmBeach (4.3%), and #Martin (4.8%), although the asking rent fell in St. Lucie (-2.5%). The #MiamiDade market area is undergoing intense #construction activity, with 24,000 units under construction, or 19% of inventory. Another 18,000 units are under construction in #FortLauderdale and #PalmBeach, adding 10% to inventory. #Affordability conditions, #job growth, #migration are driving SE Florida's multifamily and single-family rental market. Check out the March 2024 report at https://lnkd.in/eTjzaK9M Miami Association of Realtors MIAMI Commercial BROWARD-MIAMI, a Division of MIAMI REALTORS® JTHS-MIAMI, a Division of MIAMI REALTORS® Young Professionals Network (YPN) Miami Rental Beast

  • chart, line chart
Misha Hardt

Real Estate Specialist | Sales | Marketing | Construction

8mo

Thank you for sharing. In the last few weeks I’ve heard of crazy renewal rent increases from more than one local resident living in #multifamily in #Broward county. #Affordability is becoming increasingly difficult in our region; although we have new deliveries forthcoming. Obviously the issue is multi factorial and includes supply and demand, but out of curiosity how much do you think our current #insurance crisis in #FL is contributing to these increases?

Jerry Kopensky

REALTOR®, Luxury Lifestyle Property Marketing Adviser at BERKSHIRE HATHAWAY HomeServices Florida Realty ⭐ Star Treatment And VIP Service ⭐ Monthly Real Estate Insight Newsletter - Ask To Receive: JerryKopensky@gmail.com

8mo

The fading American dream, sadly

Like
Reply
See more comments

To view or add a comment, sign in

Explore topics