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.

2 msf

Under construction

Strong market fundamentals attract office developers to Miami with just over 2 million square feet under construction.

+42k sf

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.

The dashboard was delivered through AVANT by Avison Young: leveraging real-time data and analytics to make cities and location-based decisions more transparent and efficient. Learn more about AVANT.

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