“The multifamily sector in Daytona Beach and the surrounding markets has followed trends consistent with the majority of the state. While new multifamily developments remain consistent, the area’s annual population growth continues to exceed the national average by 7.5x. With this, we anticipate stabilized occupancy to remain around 94% through 2024. Further, the area benefits from a high average household income of $84k which, when paired with recent wage growth, should keep rents robust for years to come.”
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