Fort Lauderdale Multifamily Market Report

Demand stands out among Florida peers. Fort Lauderdale’s vacancy fell 30 basis points year-over-year to 4.8 percent in March, the fastest tightening among Florida’s major markets even as demand growth softened. Net absorption declined just 30 percent over the past year, the 10th-smallest pullback nationally and far below the roughly 60 percent average drop across other large Florida metros. A deep young-adult renter base, lower reliance on international migration than Miami, and high ownership barriers have supported demand. However, affordability pressure and concession usage may continue to temper rent growth.