Miami Multifamily Market: Resilient and Competitive

1️⃣ Rent Growth: 3.0%(core) → 3.0%(value-add)
Rent growth holds steady, supported by migration and lifestyle-driven demand that keeps occupancy strong.
2️⃣ IRR Target: 7.50–8.50% → 8.50–9.00%
Higher return expectations show moderate upside, with competitive sourcing needed to unlock value.
3️⃣ Going-in Cap Rate: 4.50–4.80% → 4.95–5.25%
Investors are underwriting slightly higher initial yields as pricing cools from peak levels.
4️⃣ Exit Cap Rate: 4.75–5.00% → 5.00–5.50%
Higher exits signal normalized pricing forecasts after pandemic-era surges.
5️⃣ Risk/Return Profile = Resilient Demand With Balanced Upside
Tourism, migration, and lifestyle drivers support steady performance with controlled risk.