according to RealPage<\/a>. Looking ahead, Miami is forecast to post the strongest rent growth of any major US market in 2026, at 3.8%.\u00a0<\/p>\n\u201cWe think that\u2019s actually great that deliveries have peaked and that rents haven\u2019t collapsed,\u201d Rutter, Oak Row\u2019s managing partner, said. \u201cIt\u2019s a sign of resiliency and pent-up demand.\u201d<\/p>\n
Society Wynwood is adding 318 units. Society Wynwood<\/p>\n
Chicago-based Focus and Group Fox are making their South Florida debut with Brickell Starlite, a 39-story, 517-unit apartment tower rising in Miami\u2019s financial district, where Citadel is building a new headquarters. <\/p>\n
New York\u2019s Namdar Group, long known for scooping up distressed US malls, has also set its sights on Miami, planning a trio of rental towers, with over 2,000 units between them.\u00a0<\/p>\n
PMG \u2014 a prolific Miami condo developer behind projects like Waldorf Astoria Residences \u2014 is also rolling out the rentals. It\u2019s also actively leasing units at the just-completed Society Wynwood \u2014 a 318-unit apartment complex that allows tenants to rent an entire apartment or an individual bedroom within one \u2014 said Brian Koles, a senior director at PMG who oversees the firm\u2019s rental portfolio.<\/p>\n
2900 Terrace is adding 324 units. Oak Row Equities<\/p>\n
A 1,222-square-foot, three-bedroom at the luxury property (where amenities include a rooftop pool, coworking space and an outdoor \u201cfitness field\u201d) is listed for $5,825 per month. Tenants can also rent a bedroom within a three-bedroom unit for $1,975 per month.<\/p>\n
\u201cThe cost of ownership, especially for young professionals, is out of reach in Miami,\u201d Koles said. \u201cWe want to provide housing to as many people as possible.\u201d<\/p>\n
At Oak Row\u2019s under-construction 2900 Terrace, the aim is to give renters a condo-like experience, Rutter said. The 324-unit tower, expected to wrap up by the end of 2027, will include two padel courts, a coworking terrace and podcast studios. Apartments will run as one- to three-bedrooms and skew larger than typical rentals.<\/p>\n
The new rental supply comes as Miami\u2019s domestic migration picked up again in 2025 after a lull. Out-of-state driver\u2019s license exchanges in Miami-Dade County rose 12% year over year to 23,878, nearly matching the pandemic-era peak in 2021, according to a report<\/a> by the Miami Association of Realtors. Migration increased from several states whose residents have flocked to Miami in recent years, including a 7% rise in New Yorkers and a 12% gain from Californians.<\/p>\n\u201cMiami tends to be this safe haven city,\u201d Koles said.\u00a0\u00a0\u201cWhen people are compelled to leave somewhere else, or an industry is falling apart and people want to reinvent themselves, they come to Miami.\u201d\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Miami delivered more rental apartments in 2025 than at any point in its history. And for multifamily developers,…\n","protected":false},"author":2,"featured_media":153506,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[28,9047,555,123,125,124,52385,107],"class_list":{"0":"post-153505","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-miami","8":"tag-florida","9":"tag-homeowners","10":"tag-lifestyle","11":"tag-miami","12":"tag-miami-headlines","13":"tag-miami-news","14":"tag-rentals","15":"tag-travel"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/153505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=153505"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/153505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/153506"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=153505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=153505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=153505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}