The Real Deal Miami

Higher occupancy, rents for Broward

January 12, 2011 08:28AM

MPF Research, a Dallas-based firm, predicts a 2011 apartment market that
will be among the strongest in the country, meaning lower vacancy and
higher rents, to the tune of a five percent increase in rent and a
vacancy increase of 1.6 percent. “Fort Lauderdale posted one of the
better turnarounds in apartment occupancy seen anywhere across the
country during the past year,” said Greg Willett, vice president of
research at MPF. “Additional tightening seems on the way in reflection
of the metro’s improving economy and minimal new supply.” The decrease
in vacancy should allow for rents to move forward, he said. Palm Beach
County will not fare as well, according to the report, with higher rise
in occupancy of 1.7 percent, but just a 3 percent increase in rents. [Sun