Office-first work culture continues to support healthy demand and rent growth in Miami
Average asking rental rates continued their upward trajectory, reaching $62.61 per square foot (psf) in Q2 2025. This marks a 14.4% increase year over year and 55.3% growth over the past five years. Newer office buildings have consistently outperformed older assets in terms of rent appreciation, supported by stronger tenant demand and superior amenities. For several years, Florida has led the nation in corporate migration, though the pace of inbound relocations has moderated in recent quarters. Still, Miami—alongside New York City—remains one of the top U.S. markets for office attendance, demonstrating greater resilience to the effects of hybrid work trends.