Miami Leads Florida in New Apartment Construction for 2025
Miami is set to welcome the largest share of Florida’s new rental apartments in 2025, cementing its position as one of the nation’s busiest development hubs. According to RentCafe’s latest Apartment Construction Report, the Miami metro is projected to add 15,666 new apartments this year—just over one in every four new rentals in Florida (~25.2%).
Miami Takes the Lead in Florida
Florida ranks #2 in the nation for new apartment deliveries, with 62,184 units expected to open statewide in 2025. Among Florida’s metros, Miami leads the charge with 25.2% of the state’s pipeline. Within the Miami metro:
- Miami proper tops the list with 5,301 units
- Fort Lauderdale, Hollywood, and Hialeah follow as other major contributors
To put this into perspective, Miami alone is set to deliver more apartments than Tampa and Jacksonville combined, underscoring the region’s outsized role in Florida’s housing supply.
Miami in the National Rankings
Nationally, the U.S. expects over 500,000 new apartments to hit the market in 2025. The Miami metro ranks 7th nationwide for expected completions—building nearly as much as entire states like Washington or Tennessee.
Despite its strong showing, Miami’s pipeline is 28% smaller than 2024’s record levels, reflecting a natural cooldown after years of rapid expansion. Developers appear to be pulling back slightly as interest rates, construction costs, and shifting demand reshape the landscape.
Will More Apartments Make Renting in Miami Affordable?
The critical question for renters: will this influx of new apartments ease prices in one of the country’s most expensive rental markets?
While more supply typically helps stabilize rents, Miami’s unique dynamics complicate the picture:
- High demand from domestic and international movers keeps pressure on pricing.
- Luxury-focused development means many of the new apartments target higher-income tenants rather than workforce housing.
- Slower pipeline compared to 2024 may limit downward pressure on rents.
That said, as thousands of units come online, renters may see more concessions—like one month free or reduced deposits—especially in highly competitive submarkets. The effect may not be a dramatic drop in rents, but rather a slight cooling of Miami’s rapid rental growth.
Key Takeaway
With just over one in four of Florida’s new rentals rising in Miami, the city remains at the forefront of the state’s housing boom. For renters, the additional supply could bring some relief—but Miami’s sky-high demand suggests affordability will remain a pressing issue well into 2025.
