Commercial Real Estate, Capital, Insurance, Leasing & Management

Q3-21 Multifamily Report: Central Florida

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CENTRAL FLORIDA MULTIFAMILY EXPECTED TO SEE RISING RENTS AND STRONG MARKET FUNDAMENTALS

Franklin Street’s Q3-21 report on the Central Florida multifamily market, spanning from Tampa Bay on the west through the Orlando area to the Space Coast on the east, explores key market indicators from demographic trends to rent growth to investment sales activity. The report also offers exclusive insight and predictions from Franklin Street’s local experts on what can be expected from the market going forward.

REPORT HIGHLIGHTS:

  • As sunbelt migration has continued, the Central Florida multifamily market has experienced increases in market rents and population.
  • Of the 13 counties that represent Central Florida, the average YoY rent growth for Q3 2021 was 14.01%. Q1, Q2, and Q3 of 2021 have represented both the highest consecutive quarterly YoY rent growth and the highest rent growths in the past decade.
  • Franklin Street predicts that the Space Coast of Florida will be an opportunistic investment opportunity. Melbourne, located in Brevard County, displayed the best market measurements across all counties listed in this Central Florida report. Daytona Beach and Lakeland will also be solid markets for investors to own and operate.

View more research reports and insight from Franklin Street here

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