Occupancy outlooks are sunny in Florida markets this year, according to a newly released report.
Three metro areas in the Sunshine State have occupancies greater than 95 percent, according to Axiometrics. Naples, Fla. has 97.5 percent occupancy and leads the country’s top 90 largest metro areas. North Port, Fla. and Miami, Fla. also made the top 10 with 96.4 percent and 95.8 percent, respectively.
The December report, which was released Tuesday by the Dallas-based research firm, notes the national occupancy rate has been above 94 percent since April 2012.
This year is expected to bring more growth to the top performing metro areas, but with less gusto than in 2013, according to the report.
Other notable metro areas with high occupancies include Lansing, Mich. at 97 percent and Santa Rosa, Calif. with 96.9 percent.
Top 10 Metros with Highest Occupancy Rates
1. Naples, Fla. 97.5 percent
2. Lansing, Mich. 97 percent
3. Santa Rosa, Calif. 96.9 percent
4. North Port, Fla. 96.4 percent
5. Providence, R.I. 96.3 percent
6. Nassau, N.Y. 96.3 percent
7. New York City 96.3 percent
8. Minneapolis, Minn. 96 percent
9. Nashville, Tenn. 95.8 percent
10. Miami, Fla. 95.8 percent
Lindsay Machak is an Associate Editor for Multifamily Executive. Connect with her on Twitter @LMachak.