“Thanks to massive migration over the last three years, the Daytona Beach market has seen considerable capital investment from developers. Over 1,200 units were delivered in 2023 and another 1,400 are forecasted in the first half of 2024 alone. While the large addition of lease-up deals has impacted overall occupancy, stabilized occupancy is holding firm at 92.4%. Favorable macro-economic trends, high household incomes, and positive net migration to the MSA all inspire confidence that the Daytona Beach area will remain a solid market for multifamily investors for many years to come.”
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