Demand for multifamily buildings to rise in Miami

The demand for apartment buildings in Miami is expected to increase this year, according to a report by brokerage firm Apartment Realty Advisors. The report says that job growth, combined with the high cost of buying a home and difficulty in obtaining a mortgage, means the demand for rentals will grow. Occupancy rates in most of Florida are in the mid- to high-90 percent range, it says.