Immigration has bolstered apartment demand. What an expected slowdown means in four gateway markets.
Rentals in South Florida, Dallas-Fort Worth, LA and Orange County face unique challenges
Since 2020, more than 80% of the population growth across several major U.S. cities has come from international immigration, which has substantially benefited apartment demand in s...
Miami’s residential market performance continues to diverge
While pricing adjusts in some segments, lower interest rates remain key to higher homeownership
Activity in Miami’s residential market has continued to moderate from the elevated levels seen immediately post-pandemic.
Aging population drives robust medical office demand in Miami
CoStar releases a new quarterly medical office report for major markets across the US
While traditional office space in Miami has outperformed the national average, with vacancies remaining at around 9%, well below the over 14% vacancy rate nationally, challenges li...
Immigration-driven renter demand expected to moderate
Residents born outside the country rent apartments at double the rate of US-born population
Of the estimated 45 million renter households in the United States, more than 9.2 million are headed by individuals born outside the country, representing just over 20% of the tota...
US imports from China expected to plunge at least 40%
Economic policy uncertainty is effectively freezing trade activity, signaling curtailed warehouse leasing
Trade paralysis is beginning to set in as the rollercoaster of tariff announcements whiplashes markets, companies and consumers, all of which remain unsure about what to expect nex...
Container pricing and truck crossings point to slowdown in imports
Obstacles for West Coast and US-Mexico border logistics on the rise
Most major ports retained elevated container import activity in 2024 relative to 2019 levels. These gains resulted from the now fading tailwinds of growing employment and consumer ...
Miami luxury apartment demand strengthens in 2025
While supply remains elevated, vacancies stay low for existing properties
Luxury apartment demand in Miami rose in the first quarter of 2025 with over 1,850 units absorbed.
Florida apartment performance diverges across markets
CoStar analysts discuss the state of the apartment market in the latest webinar
The recent surge in apartment construction has created a significant supply overhang across Florida, though this has had disparate impacts on property fundamentals depending on the...
Muted labor force gains create obstacles for South Florida’s commercial real estate
Despite low unemployment, the area’s labor force has stopped growing
After adding 78,000 new members to its worker base coming out of the pandemic, South Florida is now running out of workers.
Large Sun Belt counties continue to post nation's strongest population gains
Slower international migration may impact rankings this year
Harris County, Texas, Miami-Dade County, Florida, and Maricopa County, Arizona, have seen some of the strongest population growth over the last few years, and they topped the chart...
The Sun Belt markets most affected by recent apartment oversupply
New multifamily properties can take two years to stabilize
As renter demand continues to catch up to new multifamily supply, some markets are seeing a greater impact on vacancy and rent.
Florida property insurance costs rose again in 2024
60% of coastal county property value is at risk from storm surge
Florida homeowner insurance costs rose again in 2024. Premiums for single-family homes increased 12%, while condo insurance rose 7% from 2023 levels.
South Florida apartment developments could take over 20 months to stabilize
While incentives are attracting renters, new supply remains a drag on performance
Apartment construction activity in South Florida continues to impact market conditions, with newly completed properties taking longer to attract renters.
South Florida retail: Space abundance and shortfalls
Majority of submarkets lack retail space, with few exceptions
South Florida’s retail market remains tight, with a historically low availability rate of 4%. Across the entire region, only around 14 million square feet of space is available, 20...
South Florida begins 2025 with record employment levels
While the area’s job market remains strong, office-using job growth has slowed
South Florida started 2025 with one of the lowest recorded unemployment rates at 2.8%, below the national average of 4%. This healthy employment market provides a buffer for the ar...
Housing affordability continues to deteriorate in Miami
Incoming apartment supply will do little to stem area’s rising cost of living
Although Miami has been building a record number of apartments, this has yet to provide housing affordability relief, specifically for mid-to-lower-income households.
While South Florida retail sales growth slows, necessity-based retail shines
Publix tries to stay ahead of competition through retail center purchases
Real retail sales in South Florida remain around 20% above pre-pandemic levels, but sales growth has moderated since 2023, as shown by the yellow line chart above.
Miami multifamily supply shifts from suburbs to downtown
Changing construction trends will impact downtown’s rental premium
Miami’s multifamily supply pipeline remains elevated in select submarkets. Kendall, Homestead, Doral, North Miami Beach, Miami Gardens, and downtown Miami are all seeing significan...
South Florida’s rising business costs make alternative industrial markets attractive
Lakeland and Jacksonville stand out as affordable options for regional distributors
Due to its geographic constraints, South Florida is mainly a local distribution market with certain advantages and disadvantages.
South Florida office sales activity sees slight uptick
Sale counts rise across transaction price ranges in last 12 months
Office transaction counts rose 10% by the end of 2024, after dropping to recent lows of around 111 transactions in the twelve-month period ending in the first quarter of 2024. All ...