Unemployment Rate in Miami-Dade County, FL November 1, 2005 to November 1, 2015
The unemployment rate in Miami-Dade County As can be appreciated in the accompanying chart (Unemployment Rate in Miami-Dade County, FL November 1, 2005 to November 1, 2015), this rate has not been significantly lower since 2008, and is about half the peak level reached around 2010.
This low unemployment level bodes well for commercial real estate as it evidences increased economic activity. For multifamily investors, lower unemployment can be good for occupancy rates and rent levels. In recent years, rents have increased in the county in line with this stronger employment environment.