Miami ranks No. 5 in apartment development over the last 10 years

by South Florida Agent

Miami is one of the top five U.S. cities for apartment development over the last decade, a recent study found. 

From 2013 to 2022, 12,401 apartments were delivered in Miami. Atlanta was No. 1 during that period with more than 21,000 units, followed by Los Angeles, Houston and Charlotte, N.C., according to StorageCafe

The 100 cities analyzed in the survey yielded a total of about 391,000 new apartments, reflecting the overall popularity of downtowns and walkability, which took something of a hit during the most socially distanced days of the pandemic. 

“Already well-known as a popular tourist destination and a hub of finance, arts and entertainment, Miami, FL, is expanding its downtown housing inventory to accommodate an influx of new residents,” the report said. “It ranks fifth for multifamily construction over the past decade, with around 12,500 new units delivered, of which over 2,200 were built last year alone. Miami’s downtown area has another 5,600 units currently under construction.”

StorageCafe cited data from its sister division, Yardi Matrix. 


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