Miami office market reports
Q1 2024
As of February 2024, Miami's unemployment rate remained unchanged at 1.6%, compared to last quarter. This is 150 basis points lower than Florida’s total unemployment rate of 3.1%. Total nonfarm employment has experienced a year-over-year increase of 2.8%, with the financial activities sector posting a 2.5% increase during that period.
Asking rates
Robust tenant demand for trophy buildings has applied upward pressure on asking rates, up 68% in four years.
Under construction
Strong market fundamentals attract office developers to Miami with just over 2 million square feet under construction.
Net absorption
Miami’s office net absorption remains positive for the twelfth consecutive quarter.
Your source for the latest Miami office market reports
Get in-depth office market reports from commercial real estate experts in the Greater Miami area. Avison Young advisors look at Miami commercial real estate activities and the latest Miami statistics to provide you expert market research on Miami's office properties.
Explore different topics like the latest office market pricing trends and analysis of Miami's current office real estate market conditions. Gain a better understanding of Miami’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Miami's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Miami.
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