Cap rates, rent trends, and underwriting benchmarks for Miami apartment investors.
Miami remains one of the hottest multifamily markets nationally, driven by domestic and international migration, wealth relocation, and limited land for new supply. Insurance costs are the primary headwind. Brickell, Wynwood, and Coconut Grove lead in rent growth.
Windstorm and flood insurance significantly impact NOI. Lenders require 1.20-1.25x DSCR. Foreign national lending available from select banks.
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