Q3 2018 Broward Retail Market Report
Author: Verity Mosquez
Date Published: 07/16/2018
Population and income growth have been major drivers in the success of Broward’s retail market. Broward County’s population currently stands at 1.9 million with a median household income of $55,397. The population is expected to grow by 20,535 more residents by 2023 and the median household income is to increase by 2.52 percent over the next 4 years. Market fundamentals strengthened as over 50,000 square feet of retail space was delivered in the third quarter of 2018 and nearly 500,000 square feet delivered year-to-date. The county saw a positive 90,300 square feet of retail space absorbed in the third quarter which exceeded the amount of space delivered. There is currently 1.1 million square feet of retail space under construction in Broward County.