Homes for rent in Tampa Metro (2024)

FAQs

Is rent in Tampa going down? ›

Tampa posted a 6% drop of its own, the largest decline since at least 2019. Orlando (-4.8%) and Miami (-3.8%) have also seen rent prices fall over the past year.

Tampa Bay saw some of the nation's highest rental increases in the first two years of the pandemic. Real estate experts say the rent spike was caused by a myriad of factors, including a sharp influx of new renters relocating to the region.

The cost of living in Tampa, FL is 2% lower than the state average and 4% lower than the national average. Tampa, FL housing is 3% cheaper than the U.S average, while utilities are about 2% less pricey.

TAMPA, Fla.

- After a tough couple of years for homebuyers, with housing prices soaring in the sought-after Sunshine State, cities on the West Coast are starting to see a significant cooling, with supply rising and demand falling. Tampa ranks second in the nation for cooling housing prices.

An influx of new residents and a stubbornly high demand for rentals have pushed median rental prices in Florida upwards in recent years, challenging affordability and deepening a housing crisis that continues to test the state's economic resilience.

Will rent go down in 2024, Florida? The short answer is yes. Statistics show that the rental rates in Florida have been decreasing throughout 2023. According to DSNews, single-family rental rates have been falling for 15 months consecutively throughout the country.

Lower Cost Of Living

The cost of living in Tampa is generally lower than in Orlando, including housing costs. While homes in Tampa are slightly more expensive than in Orlando, rentals are usually cheaper because there isn't as much demand for short-term housing for tourists.

In Tampa Bay, an individual without a child must make an annual salary of at least $94,432 — or an hourly wage of $45.40 — to achieve a comfortable lifestyle, as defined in the study. That breaks down to nearly $47,216 going toward needs, about $28,329 toward wants and close to $18,886 toward debt/savings.

A: With close to nine months of beautiful weather, a promising jobs market, a rich cultural history, award-winning beaches a seashell's throw away, and a top-rated international airport at the ready when you need to get out of town, yes, Tampa is definitely a good place to live.

Can I live in Florida on 50k a year? ›

The cost of living in Florida is lower compared to some other states. The median household income in Florida is around $59,227. A good salary in Florida can range from $50,000 to $100,000 or more, depending on various factors.

According to a recent study by Smart Asset, single adults living in Tampa, St. Petersburg, and Orlando must have an average salary range of $94,000 to $100,000 to live comfortably.

Florida is bucking the national trend. The Sunshine State's four most populous metro areas are seeing rent prices decline. Jacksonville's median asking rent fell 12.4% year over year in June—the metro's biggest drop in records dating back to 2019. Tampa posted a 6% decline—also the largest on record.

Texas & Florida are seeing record rent declines. In Florida, the city of Jacksonville notched its biggest asking rent decline since 2019, dropping 12.4% in June on an annual basis. Tampa notched a 6% drop, Redfin said, marking its largest decline on record.

Seven months into the year, rents in Tampa have risen 1.4%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to July 2023 rents had increased 1.5%.

(NerdWallet) – An ongoing boom in apartment construction has helped slow down rental inflation — but renters shouldn't expect prices to drop dramatically from their pandemic-padded highs. That means affordability will remain the dominant narrative in rental housing in 2024.