Advertisement

Tampa Bay tops in Florida among nation's metros with fastest-rising rents

 
Published April 16, 2015

The Tampa Bay market will experience the 13th-largest average increase in apartment rent nationwide and the largest in the state, according to data released this week on commercial rental properties.

Tampa Bay area renters will pay a projected monthly rent of $995. That's an average increase of 5.3 percent from last year, says the Marcus & Millichap real estate services firm. That bump in rent is greater than the average pay increase among area workers, meaning renters must commit a higher percentage of their take-home pay to cover their housing expenses.

The data come shortly after a new report released by the research firm RealtyTrac showed Miami-Dade, Broward and Hernando counties are among the least-affordable markets when it comes to rent as a share of income.