Despite boost in supply, Florida is facing apartment shortage

State will need to add hundreds of thousands of new units to keep pace with demand, association survey finds

By Kevin McQuaid
| 8:40 a.m. October 25, 2019
| 0 Free Articles Remaining!

Commercial Real Estate

It might be somewhat hard to believe, given the tens of thousands of new multifamily rental units that have been constructed along the Gulf Coast in the past seven-plus years of this economic recovery cycle, but Florida is actually facing an apartment shortage.

So says the Florida Apartment Association (FAA), an Orlando-based trade group that says it represents three-quarters of all multifamily rental units in the state.