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Population & Job Growth Fuels Florida’s Multifamily Sector

Florida is one of Jarrett Capital’s target markets for MF properties. It offers excellent job opportunities, no state income tax and near-perfect weather to people looking to make Florida home. The sunshine state has continually show a strong population growth of more than 300,000 people a year, which is key to sustaining the multifamily boom Its population increases will primarily stem from net migration as people move into the state, rather than births and It is forecast to hit 22.2 million as of April 1, 2022 and be at 22.8 million on April 1, 2024. Given the recent growth and the sustained growth projected in the Florida multifamily market, coupled with continued moderate supply, Jarrett Capital expects rental rates to increase over time, which will lead to a future increase in per unit prices.

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