Fort Myers, FL Multifamily Market Report | Lee & Associates | Q4 2025

Market Overview

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Fort Myers entered 2025 carrying the weight of one of Southwest Florida's most active construction cycles. Vacancy reached 17.3% in Q4 as deliveries outpaced absorption, which fell to 1,643 units for the trailing 12 months from over 2,500 earlier in the year. Asking rents declined to $1,673 per unit, down from $1,837 a year prior, and sale pricing softened to $202,866 per unit as cap rates rose to 5.96%. Despite the pressure, investment activity held: multiple transactions closed above $60 million in the quarter. Units under construction declined to 5,349 from 6,114 a year ago, pointing toward a gradual easing of supply pressure through 2026.

‍About Lee Associates

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Lee Associates is a nationwide commercial real estate brokerage serving investors, owners, and occupiers across property types. Their Fort Myers Q4 2025 multifamily market report tracks absorption, vacancy, asking rents, and capital markets activity to help investors and owners assess market conditions. To read the full report, click here.