{"id":7033,"date":"2023-12-21T07:24:00","date_gmt":"2023-12-21T07:24:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7033"},"modified":"2024-03-11T07:43:36","modified_gmt":"2024-03-11T07:43:36","slug":"november-2023-tampa-multifamily-market-report","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/","title":{"rendered":"Tampa Multifamily Market Report \u2013 November 2023"},"content":{"rendered":"<h2>Fundamentals Moderate, Remain Healthy<\/h2>\n<p>Tampa\u2019s multifamily fundamentals slowed down, but remained healthy amid persisting volatility. Short-term rent movement slid back into negative territory, down 0.1% on a trailing three-month basis, on par with the U.S. rate, as noted in the <a href=\"\/blog\/national-multifamily-market-report\/\"><strong>national multifamily market outlook<\/strong><\/a>. Meanwhile, the occupancy rate in stabilized properties declined 40 basis points year-over-year through August, to 94.5%, which points to still healthy demand.<\/p>\n<p><iframe id=\"datawrapper-chart-6N5Ry\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Tampa vs. National Rent Growth (Trailing 3 Months)\" src=\"https:\/\/datawrapper.dwcdn.net\/6N5Ry\/1\/\" height=\"376\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>In the 12 months ending in July, Tampa\u2019s employment market added 58,400 jobs, for a 4.0% expansion, well ahead of the 2.6% U.S. figure. Tampa also outperformed the U.S. in unemployment levels, at 3.2% in August, while the nation stood at 3.8%, according to Bureau of Labor Statistics data. Despite the steady performance, two of Tampa\u2019s employment sectors lost positions\u2014financial activities and information\u2014for 4,000 jobs combined. Education and health services (23,800 jobs) and professional and business services (13,100 jobs) led growth. Both sectors point to a positive outlook, with the final phase of the Tampa Convention Center\u2019s renovation completed this summer and several hospital projects recently delivered or underway.<\/p>\n<p><iframe id=\"datawrapper-chart-gr5BA\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Tampa Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/gr5BA\/1\/\" height=\"417\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Developers delivered 6,774 units in 2023 through September and had another 17,697 under construction. Projects slated for completion by year-end could make 2023 the best year on record for deliveries. Meanwhile, investors traded $1.2 billion in multifamily assets, for a price per unit that declined 15.8%, to $196,372.<\/p>\n<p>Read the full <a href=\"\/publications\/download\/file\/4790-MatrixMultifamilyTampaReport-November2023\"><strong>November 2023 report<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fundamentals Moderate, Remain Healthy Tampa\u2019s multifamily fundamentals slowed down, but remained healthy amid persisting volatility. Short-term rent movement slid back into negative territory, down 0.1% on a trailing three-month basis, on par with the U.S. rate, as noted in the national multifamily market outlook. Meanwhile, the occupancy rate in stabilized properties declined 40 basis points [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":6693,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[475,469],"class_list":["post-7033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2023","tag-tampa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tampa Multifamily Market Report \u2013 November 2023 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Tampa rent growth declined 1.1% YoY as of September, while the national rate increased 0.8%, Yardi Matrix data shows.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tampa Multifamily Market Report \u2013 November 2023\" \/>\n<meta property=\"og:description\" content=\"Tampa rent growth declined 1.1% YoY as of September, while the national rate increased 0.8%, Yardi Matrix data shows.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-21T07:24:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-11T07:43:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/12\/Tampa-iStock-1779241279.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Razvan Cimpean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tampa Multifamily Market Report \u2013 November 2023 - Yardi Matrix Blog","description":"Tampa rent growth declined 1.1% YoY as of September, while the national rate increased 0.8%, Yardi Matrix data shows.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/","og_locale":"en_US","og_type":"article","og_title":"Tampa Multifamily Market Report \u2013 November 2023","og_description":"Tampa rent growth declined 1.1% YoY as of September, while the national rate increased 0.8%, Yardi Matrix data shows.","og_url":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2023-12-21T07:24:00+00:00","article_modified_time":"2024-03-11T07:43:36+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/12\/Tampa-iStock-1779241279.jpg","type":"image\/jpeg"}],"author":"Razvan Cimpean","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/"},"author":{"name":"Razvan Cimpean","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6"},"headline":"Tampa Multifamily Market Report \u2013 November 2023","datePublished":"2023-12-21T07:24:00+00:00","dateModified":"2024-03-11T07:43:36+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/"},"wordCount":223,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/12\/Tampa-iStock-1779241279.jpg","keywords":["Multifamily Outlook 2023","Tampa"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/","url":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/","name":"Tampa Multifamily Market Report \u2013 November 2023 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/12\/Tampa-iStock-1779241279.jpg","datePublished":"2023-12-21T07:24:00+00:00","dateModified":"2024-03-11T07:43:36+00:00","description":"Tampa rent growth declined 1.1% YoY as of September, while the national rate increased 0.8%, Yardi Matrix data shows.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/12\/Tampa-iStock-1779241279.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/12\/Tampa-iStock-1779241279.jpg","width":1200,"height":628,"caption":"Photo by Bilanol\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/november-2023-tampa-multifamily-market-report\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Tampa Multifamily Market Report \u2013 November 2023"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6","name":"Razvan Cimpean","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","caption":"Razvan Cimpean"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/12\/Tampa-iStock-1779241279.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=7033"}],"version-history":[{"count":2,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7033\/revisions"}],"predecessor-version":[{"id":7037,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7033\/revisions\/7037"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/6693"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=7033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=7033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=7033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}