MIAMI — 2025 — Miami is surging ahead in the national housing market, ranking 7th in the U.S. for new apartment construction this year, according to a new study by RentCafe. By the end of 2025, the Magic City is expected to deliver 15,666 new units, outpacing many major metropolitan areas.

Miami placed just behind Charlotte, North Carolina, and Atlanta, while New York City retained the top spot for new apartment completions.

Nationwide, developers are set to complete 500,000 new apartments in 2025, marking one of the strongest years for multifamily construction in recent memory. Notably, nearly 52% of those units are concentrated in the South, reflecting a decade-long shift in population and investment trends.

“This unprecedented level of new apartment developments is a direct response to the massive influx of people and capital into the Sunbelt states throughout the last decade, driven by job growth and a lower cost of living overall,” said RentCafe researchers. “In fact, the South has consistently seen the highest in-migration of any U.S. region since at least 2015, with more people moving in than moving out.”

Miami’s Growth in Context

Miami’s apartment boom comes amid persistent population growth, strong job creation, and continued demand for rental housing. The city has experienced rising migration not only from other states but also internationally, pushing developers to expand inventory at record speed.

While Miami’s luxury rental market often grabs headlines, much of the new construction also targets middle-income renters who have been squeezed by escalating housing costs. Developers have been balancing the demand for high-end amenities with the pressing need for more attainable housing options.

Sunbelt Cities Dominate

The RentCafe report underscores the Sunbelt’s dominance in housing growth, with cities such as Houston, Dallas, Austin, and Nashville also ranking high on the list. This shift reflects the region’s affordability compared to coastal markets and its appeal to remote workers and companies seeking relocation.

Challenges Ahead

Despite the surge, Miami’s new supply may face headwinds. High interest rates, construction costs, and insurance challenges in Florida continue to pressure developers and landlords. Additionally, while new apartments add much-needed housing stock, affordability remains a central concern for long-term residents.

Still, the overall pace of construction suggests confidence in Miami’s future as a magnet for investment, jobs, and migration.

Originally reported by Elizabeth Kanzeg Rowland in South Florida Agent Magazine.