Miami Area Expected To Add 19,000 Apartments In 2022

Developers are expected to complete 19,125 apartments in the Miami metro area in 2022, according to a new report by rentcafe.com.

Rentcafe also reported earlier this month that Miami remains the most competitive market in the U.S. for renters. In Miami, “the existing supply of rentals simply can’t keep up with sky-high demand,” the website said.

Just two other metro areas are expected to build more apartments than Miami this year: New York (28,153) and Dallas (23,571). By comparison, Miami ranked sixth nationwide in 2021.

The city of Miami itself will see the most new rental units in the metro area this year by far – nearly eight times more than second place Fort Lauderdale, the report said.

For apartments completed within Miami city limits in the first half of 2022, Miami ranked fourth nationwide with 2,996 units. Only Houston (4,746 completed apartments), Austin (4,236 completed apartments), and Seattle (3,232 completed apartments) ranked higher.

Miami’s land area is just 36 square miles, far less than Houston (640 square miles), Austin (320 square miles), and Seattle (84 square miles).

 

(source: rentcafe)

 

 

 

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Melo is sigma and Chad
1 month ago

Sell empty lots to Melo and that 19k could be doubled.

Anonymous
1 month ago

Yes, turn Miami into a boring communist architect’s wet dream!

Anonymous
1 month ago

LMAO

Anonymous
1 month ago

Very true! Can’t stand those Melo buildings.

Anonymous
1 month ago

Is there anything else you can’t STAND in Miami?

Anonymous
28 days ago

By Christmas

Anonymous
1 month ago

Great opportunity to remake our city with quality architecture and infrastructure

Anonymous
1 month ago

Or just the usual whining about architecture and infrastructure.

Southwest Til' I die!
1 month ago

If it negatively impacts the rate of construction I am not for it.

Anonymous
1 month ago

More important than analyzing the numbers for 2022, would be to analyze the projections for 2025. Then, yes, I think Miami would skyrocket in front of other cities, due to the large number of launches of new buildings to be built in the coming years.

Vince
1 month ago

Miami’s metro isn’t that big compared to the leading markets, so it makes sense that cities 100%
larger than Miami have 20% more new apartments.

The same YardiMatrix Data shows number of new units as a percentage of existing housing stock. Miami leads NY, Dallas, and most on the above referenced list.

Rocky.
1 month ago

Density!

Sub Tropics
1 month ago

New York City is not dying.

Anonymous
1 month ago

I’m sure what NYC is building was preplanned or already under construction.

Anonymous
1 month ago

It is on the decline, but hopefully will have sorted itself out before hitting rock bottom like it did previously in the 90s.

Vince
1 month ago

And the 1970’s.
New York will always bounce back.

Giga chad Melo
1 month ago

The NYC number is interesting. It’s 28,000 but a city 4x as big as Miami or Dallas, it should be closer 80,000. Meaning nyc rents will continue to remain super expensive. Also why is Tampa building so little? They’re having crazy housing prices too.

Not Anonymous
1 month ago

Tampa’s real estate market peaked already

Anonymous
1 month ago

Problem is, all of them are for renting instead of buying. Where are all the apartments to buy noe and days? Every new construction is for rentals

Anonymous
1 month ago

Not a problem for those looking to rent. Plenty still to buy.

Anonymous
1 month ago

You’re talking about older apartment units. New construction popping up all over Miami are for rentals. None of the new construction is for buying

Anonymous
1 month ago

None… hyperbole much? The recently completed Aston Martin tower, the Waldorf and the Okan…. these are huge bldgs

Anonymous
1 month ago

Thank DeSantis, Suarez, and Levine-Cava.

Anonymous
1 month ago

Thanks to all you people moving to Miami from those northeast states and California.

Anonymous
1 month ago

desantis is bad for business, what would happen if florida lost disney our economy would tank

Anonymous
1 month ago

Man, you must live one secluded life!

King Tide
1 month ago

Congrats ..these will all be under water soon… bloop bloop

Dean
1 month ago

I’ll bet you a $10,000 or any number of your choosing that Okan, Aston Martin or Waldorf are not under water “soon”.

Even if you haven’t thought much about the definition of soon, and think soon means 20 years from now….I’ll still bet you that none of those 3 towers are under water in the next 20 years.

(I picked $10,000 because I made a wild guess that you attended a Woke Madrasa where your student loans and time earned you a college degree in _______ Studies. When $10,000 is forgiven, just give it to me. It will be a much more valuable lesson than anything you were indoctrinated with in college.)

Antennae
1 month ago

TEXAS is Booming!!!!!!

Casey
1 month ago

How many affordable tho

Anonymous
1 month ago

For anybody that can afford to live in em, all of them.

Common Sense Blue Voter
1 month ago

All apartments should be market rate.

Anonymous
1 month ago

We’ll start with your home.

Anonymous
1 month ago

lol…

Anonymous
1 month ago

Do you guys know what market rate means? It means the price is determined by the free market and not subsidized by the government.

Common Sense Blue Voter
1 month ago

Exactly.

Qtip
1 month ago

They are market rate if they weren’t there would be far more inventory, take an Econ class and you’ll understand.

Vince
1 month ago

Wrong.
Housing subsidies and government programs discourage new construction. Rent control discourages people from downsizing or right sizing their residences because they are getting such “a good deal” in their gov’t housing.

Common Sense Blue Voter
1 month ago

I was an econ major, thanks. My comment was in response to the people clamoring for more “affordable” housing.

Antennae
1 month ago

I invite you to develop them. Developers are not in the business of charity work. Land prices have skyrocketed and they need to get their return.

Anonymous
1 month ago

none are affordable rents are higher than california and nyc and definetly higher than dallas where a condo cost 800$

Anonymous
1 month ago

Why do people put the dollar sign after the number nowadays?

s.k
1 month ago

Yeah, it’s the 3rd time I see this from different places.

Vince
1 month ago

It is the work of the Commies trying to destroy the perfectly fine institutions of the United States.

Anonymous
1 month ago

Heck, I was wondering why do some people write sentences without comas and periods, and start off without capitalization when naming cities, counties, countries, or states? I mean, that shit is taught (or it should’ve been taught) in Elementary school.

Baconator
1 month ago

The American education system is a total failure.

Dean
1 month ago

The US System is the worst education system in the world except for all the others.

Anonymous
1 month ago

If they keep popping out people like Marjorie Taylor Greene, then this country is truly doomed!