Invest In Apartment Buildings In Miramar, FL

Who Rents In Miramar, And Why

Miramar has gained renters while losing a few residents. The city has 14,054 renter households, up 11.3% in five years, while population slipped 0.6% to 138,600 (U.S. Census ACS 2020–2024). About 31.2% of households rent, close to Florida's 32.4%. Median household income is $89,125, up 26.1%, and median gross rent in Miramar is $2,117 a month, up 45.2% from $1,458 in the 2015–2019 survey. Rent has outrun income, and 66.2% of renters now spend 30% or more of their income on housing.

The biggest local job base is the Miramar Park of Commerce, a 600-acre office and industrial park the Ansin family's Sunbeam Properties began building in 1984. Bisnow reported it was 98% leased as of April 2024. A 2019 Florida Trend profile counted about 180 employers there and listed Carnival, Royal Caribbean, Comcast, DHL, American Express and NBC Miami among the city's top employers. I-75, which opened through the city in 1993, puts both Miami International and Fort Lauderdale-Hollywood airports within about a 30-minute drive, so many residents also commute to jobs in Miami-Dade and eastern Broward. Broward College and Florida International University share a campus in the city.

For owners, that adds up to a renter base tied to office, logistics and corporate jobs rather than tourism. Employed residents rose 3.2% in five years and unemployment is 4.5%. The weak spot is cost. With two of every three renters already cost-burdened, rent growth on older buildings will likely track wage growth from here, not the 45% run of the last cycle.

Miramar's Apartment Pipeline And The Rent Picture

Miramar has 9,191 homes in buildings with five or more units, 19.8% of its housing, and that count jumped 25.1% in five years (U.S. Census ACS 2020–2024). Recent projects explain much of it. Related Group topped off the 393-unit Manor at Miramar at 1 Main Street, near Miramar Town Center, in 2022, with completion slated for the third quarter of 2023. Trammell Crow Residential won rezoning in 2021 for the 250-unit Alexan Miramar at Miramar Parkway and SW 145th Avenue. Smaller and income-restricted projects followed, including the 110-unit Pinnacle at La Cabana senior building at 8911 Miramar Parkway and a mid-rise Nurock Cos. proposal on Foxcroft Road that went to the City Commission in September 2024.

The largest item is still ahead. Sunbeam's Park Miramar would put 2,874 apartments, a 185-room hotel, retail and office space on 125.8 vacant acres at the northeast corner of Miramar Parkway and Red Road, next to the Park of Commerce. The zoning board backed the rezoning unanimously in 2024, and a development agreement was on the City Commission's November 2024 agenda. Bisnow reported phase one, three apartment buildings with ground-floor retail, could break ground 12 to 18 months after approval. That many units would add meaningfully to the city's 5+ unit stock over several years.

Today the market is tight on paper. The Census rental vacancy rate is 2%, but that covers every rental, including leased houses and condos, so it runs below what large managed communities report. Listings in October 2026 show some give at the top: Apartment List tagged 297 Miramar listings with move-in specials, including a limited-time offer at Legacy Lake Vista. The HUD fiscal 2027 two-bedroom fair market rent for the Fort Lauderdale area is $2,321. For apartment syndications in Miramar, the useful question is how a property's rents sit against that benchmark and against the new lease-ups, and how much concession a buyer should assume while Park Miramar comes online.

Parts Of Miramar We Track

Florida Trend put the city's population at about 61,000 in 1995 and 140,000 in 2019 as subdivisions spread west, and its median home was built in 1996, so most of the stock is post-1990.

Miramar By The Numbers

We track 106 Florida cities. Miramar places 16th for median gross rent, 67th for renter share and 29th for five-year rent growth. That puts its rents near the top of the group, so tenants here are already paying more than in most nearby markets. In raw numbers, Miramar has about 868 fewer residents, 1,427 more renter households and 1,844 more homes in buildings with 5 or more units than in the 2015–2019 survey. Growth in renter households and new apartment homes has been roughly in balance.

How Miramar Compares With Nearby Markets

Miramar's median gross rent of $2,117 is above the Florida median of $1,669, and its renter share is 31.2% compared with 32.4% statewide.

Can Tenants Afford Miramar Rents?

At $2,117 a month, the median Miramar rent adds up to $25,404 a year, or roughly 28.5% of what the median household earns. Under the common 30% guideline, a household needs about $84,700 a year to cover that rent comfortably. That's a heavier load than the Florida average of 26.9%. Renters usually earn less than the all-household median, so the real burden for tenants is higher than this simple ratio shows.

In dollars, Miramar rent climbed $659 a month over five years and household income climbed $18,447 a year. Rent has outpaced income, so we are careful about how much further a business plan pushes rents on renewal. HUD's FY2027 Fair Market Rent for a two-bedroom unit, $2,321, is 9.6% above the median gross rent for all unit sizes. That gap matters for buildings that accept Housing Choice Vouchers, since local housing authorities base voucher payment standards on it.

Miramar Apartment Market Key Facts

These are the core numbers for Miramar, FL, each from the Census Bureau's American Community Survey.

• Miramar, FL has 138,600 residents, down 0.6% from the 2015–2019 survey (U.S. Census ACS 2020–2024).
• Median household income in Miramar, FL is $89,125, up 26.1% over five years (U.S. Census ACS 2020–2024).
• Median gross rent in Miramar, FL is $2,117 a month, up 45.2% over five years (U.S. Census ACS 2020–2024).
• 31.2% of households in Miramar, FL rent, about 14,054 renter households (U.S. Census ACS 2020–2024).
• 19.8% of homes in Miramar, FL are in buildings with 5 or more units (U.S. Census ACS 2020–2024).
• The rental vacancy rate in Miramar, FL is 2%, and 66.2% of renters spend 30% or more of income on rent (U.S. Census ACS 2020–2024).
• The median home in Miramar, FL was built in 1996 (U.S. Census ACS 2020–2024).

What We Look For In A Miramar Apartment Building

In Miramar we focus on apartment buildings with 5 or more units. Some are stabilized and well run. Others have below-market rents or deferred maintenance that a better operator can fix. Either way, the deal has to make sense on current numbers.

Florida has no state income tax on wages, and property taxes are often one of the largest expenses for apartment owners. We estimate the tax bill as it will be after the purchase, because a sale can trigger a reassessment in many places. Florida has no statewide rent control law, though local rules on notices, fees and deposits still apply. Insurance quotes in Florida reflect hurricane and flood exposure, so we get a quote before we make an offer.

After a stretch of fast rent growth, we keep rent assumptions modest and leave room for concessions if new supply opens nearby.

Questions To Ask About An Apartment Syndication In Miramar

Before you invest in an apartment syndication in Miramar, with us or anyone else, the local data points to a few questions worth asking.

• What vacancy does the plan assume? Rental vacancy in Miramar is 2%. A plan that assumes much lower vacancy than the market should explain why.
• What rent growth is underwritten? Rents here rose 45.2% over five years. Ask whether the plan assumes that pace continues, and what happens to the deal if rents stay flat.
• How was the property tax bill estimated? A sale often triggers a reassessment, so the bill after purchase can be well above what the seller pays today.
• How big is the repair reserve? The median home in Miramar was built in 1996, and even newer buildings need money set aside for roofs, HVAC and appliances.
• How will the building compete with new supply? Homes in 5+ unit buildings in Miramar rose 25.1% over five years, so newer properties are part of the competition.
• How and when does capital come back? Ask what the plan is for a refinance or sale, and what happens if that takes longer than expected.

How Passive Investing In A Miramar Apartment Syndication Works

A syndication splits the work from the capital. As general partner, Skyline sources and buys the building, sets the business plan and runs it with a property manager. Limited partners invest money, own part of the property and receive reports, but they don't manage anything day to day.

Syndications are long-term and illiquid, and capital usually stays committed for several years. Results are never certain. Most offerings are limited to accredited investors, and the rules depend on whether a deal uses Rule 506(b) or Rule 506(c). See investing with Skyline Capital for how we work with limited partners.

Getting Started

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