{"id":8179,"date":"2024-08-22T09:40:00","date_gmt":"2024-08-22T09:40:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8179"},"modified":"2024-12-16T09:49:59","modified_gmt":"2024-12-16T09:49:59","slug":"tampa-multifamily-market-report-july-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-july-2024\/","title":{"rendered":"Tampa Multifamily Market Report \u2013 July 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/tampa-multifamily-market-report\/\">Tampa Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Fundamentals Cool Slightly, Supply Stays Solid<\/h2>\n<p>Tampa\u2019s multifamily fundamentals have cooled off amid strong supply expansion, according to the latest Yardi Matrix Tampa multifamily market report. Advertised asking rents were down 0.1% on a trailing three-month basis through May, to $1,794, slightly above the nation\u2019s $1,733 average, as reported in the <a href=\"\/blog\/national-multifamily-market-report\/\"><strong>national multifamily market outlook<\/strong><\/a>. Year-over-year advertised asking rents were down 1.8%, with 19 of the 51 submarkets tracked by Yardi Matrix recording gains.<\/p>\n<p><iframe id=\"datawrapper-chart-YEWRz\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Tampa vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/YEWRz\/1\/\" height=\"320\" 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 March, Tampa\u2019s unemployment rate stood at 3.4%, based on data from the Bureau of Labor Statistics, outperforming the 3.8% national figure. Over the 12-month period ending in March, Tampa added a net total of 37,000 jobs. This represented a 2.3% expansion and significantly surpassed the 1.4% national figure. Education and health services recorded the strongest growth, with 17,100 jobs added. The historic Gas Plant District is one step closer to becoming a reality. Ahead of the St. Petersburg City Council\u2019s final vote on its redevelopment, the Tampa Bay Rays have agreed to stay in the city. A joint venture that includes the city of Tampa, Pinellas County, the Rays and Hines will develop a $1.4 billion ballpark that will serve as an anchor for the 86-acre mixed-use project.<\/p>\n<p><iframe id=\"datawrapper-chart-Z8sxH\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Tampa Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/Z8sxH\/1\/\" height=\"423\" 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 completed 2,199 units in 2024 through May. A total of 25,300 units were under construction, while an additional 48,000 were in the planning and permitting stages. If market conditions hold, Yardi Matrix expects more than 11,000 units to come online in 2024, which would mark a decade-high.<\/p>\n<p>Read the full Tampa Multifamily Market Report: <a href=\"\/publications\/download\/file\/5936-MatrixMultifamilyTampaReport-July2024\"><strong>July 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Fundamentals Cool Slightly, Supply Stays Solid Tampa\u2019s multifamily fundamentals have cooled off amid strong supply expansion, according to the latest Yardi Matrix Tampa multifamily market report. Advertised asking rents were down 0.1% on a trailing three-month basis through May, to $1,794, slightly above the nation\u2019s $1,733 average, as reported in the national multifamily market outlook. [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":7724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[511,469],"class_list":["post-8179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2024","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 July 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Advertised rents decreased 0.1% on a T3 basis through May to $1,794, while annual rent growth was down 1.8%.\" \/>\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\/tampa-multifamily-market-report-july-2024\/\" \/>\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 July 2024\" \/>\n<meta property=\"og:description\" content=\"Advertised rents decreased 0.1% on a T3 basis through May to $1,794, while annual rent growth was down 1.8%.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-july-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-22T09:40:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-16T09:49:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/03\/Tampa-iStock-2158328426.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=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Agota Felhazi\" \/>\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 July 2024 - 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