Tampa Bay renters are paying more for less space

A typical Tampa Bay renter has to give up 300 square feet of space to have the same monthly payment as five years ago.
Apartments for rent in downtown St. Petersburg. [SUSAN TAYLOR MARTIN | Times]
Apartments for rent in downtown St. Petersburg. [SUSAN TAYLOR MARTIN | Times]
Published April 11

Tampa Bay renters are getting less bang for their buck. According to HotPads Research, a Zillow affiliate, a typical bay area renter would have to give up 300 square feet of space to have the same monthly payment as five years ago. That's the equivalent of losing two and a half small-ish bedrooms.

Nationally, renters are losing 225 square feet of space. "Cities across the country have seen incredible rent growth in the past five years while new construction has gotten smaller, leading renters to look for units with less and less space to stay within their budgets,'' said Joshua Clark, HotPads economist. "With space at such a premium, it's no wonder that minimalism and decluttering practices made popular by Marie Kondo have grown such a large following among today's renters.''

Contact Susan Taylor Martin at smartin@tampabay.com or (727) 893-8642. Follow @susanskate.

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