Practical Density Expectations in Miami Area 5-Story Multifamily Builds

A recurring question in multifamily development involves the viability of 5-story projects. While zoning under the Live Local Act may allow for greater height and density, in practice, many sites face economic height constraints. That is, although taller buildings may be permitted, the marginal cost of construction per unit rises significantly with each additional story—often outpacing what market rents can justify. As a result, many developments cap out at five stories due to feasibility, not regulation.

In evaluating development potential, detailed ratio analyses are common. However, for relatively straightforward sites—those without problematic setbacks or unique site constraints—it can be useful to take a more empirical approach: simply looking at what others have successfully built. Toward that end, at the bottom of this post is a list of multifamily properties across Miami-Dade County featuring five stories.

Of these, eleven projects achieve densities that round to 105 units per acre or more. Reviewing these cases, there appears to be a practical ceiling around 110 units per acre on many sites. So, if I needed a quick benchmark to estimate potential unit count—and from that, a land cost per door—I’d be inclined to use 110 units per acre as a starting point, possibly a bit less for conservatism.

NOTE: Verify this data yourself. If you find any mistakes in the data or logic, contact me.