Fort Lauderdale, FL Multifamily Market Report Q3 2025

Fort Lauderdale's multifamily market experienced a slowdown in Q3 2025 with asking rent growth of just 0.1% following the unsustainable surge of 2021–22, driven by a large luxury supply wave that expanded vacancy to 7.6% and increased concessions, though rents remained over 25% above early-2021 levels and 34% above the U.S. average. The market recorded 8,760 units under construction (predominantly Class A luxury), annual sales of $1.8 billion with cap rates rising to 5.6%, and strong absorption averaging over 1,000 units per quarter since late 2023, while lower-rent submarkets posted some of the strongest annual rent gains as renters shifted toward more cost-effective areas.