{"id":8552,"date":"2024-12-09T13:26:00","date_gmt":"2024-12-09T13:26:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8552"},"modified":"2025-03-18T16:04:58","modified_gmt":"2025-03-18T16:04:58","slug":"tampa-multifamily-market-report-november-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/","title":{"rendered":"Tampa Multifamily Market Report \u2013 November 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>Supply Stays Strong As Fundamentals Soften<\/h2>\n<p>Tampa\u2019s multifamily market fundamentals have cooled, amid a robust supply expansion, according to the latest Yardi Matrix Tampa multifamily market report. Advertised asking rents dipped 0.3% on a trailing three-month basis through September, reaching $1,789, just above the U.S. average of $1,750. On a year-over-year basis, advertised asking rents declined 2.3%, with only 16 of the 58 submarkets tracked by Yardi Matrix recording gains.<\/p>\n<p><iframe id=\"datawrapper-chart-6WC6A\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Tampa - St Petersburg vs. National Rent Growth \" src=\"https:\/\/datawrapper.dwcdn.net\/6WC6A\/1\/\" height=\"328\" 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 July, Tampa\u2019s unemployment figure was 3.8%, outperforming the national rate of 4.3%, as reported in the <a href=\"\/blog\/national-multifamily-market-report\/\"><strong>U.S. multifamily market outlook<\/strong><\/a>. Over the 12 months ending in July, Tampa saw a net increase of 34,500 jobs. This marked a 1.9% rate of growth, significantly higher than the 1.3% national figure. The education and health services sectors posted the strongest growth, adding 9,300 positions, for a 15.6% improvement. At the end of September, the metro had 22 fully affordable housing projects in the planning stages. Among these, HP Capital Group is heading a 264-unit project which will replace a lumber yard. The development leverages a state law allowing affordable housing to be built on lots previously zoned as nonresidential.<\/p>\n<p><iframe id=\"datawrapper-chart-Pgak4\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Tampa - St Petersburg Employment Share by Sector  \" src=\"https:\/\/datawrapper.dwcdn.net\/Pgak4\/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 had completed 5,910 units by September 2024. The metro\u2019s thriving development pipeline included 23,700 units under construction, with an additional 102,000 units in the planning and permitting stages. This year\u2019s first nine months saw $1.4 billion in transactions, mirroring the volume for the same period in 2023.<\/p>\n<p>Read the full Tampa Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/6508-MatrixMultifamilyTampaReport-November2024\"><strong>November 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Supply Stays Strong As Fundamentals Soften Tampa\u2019s multifamily market fundamentals have cooled, amid a robust supply expansion, according to the latest Yardi Matrix Tampa multifamily market report. Advertised asking rents dipped 0.3% on a trailing three-month basis through September, reaching $1,789, just above the U.S. average of $1,750. On a year-over-year basis, advertised asking rents [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8181,"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-8552","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 November 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Tampa\u2019s advertised asking rents fell 0.3 percent on a T3 basis through September to $1,789, near the U.S. average.\" \/>\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-november-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 November 2024\" \/>\n<meta property=\"og:description\" content=\"Tampa\u2019s advertised asking rents fell 0.3 percent on a T3 basis through September to $1,789, near the U.S. average.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-09T13:26:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-18T16:04:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/08\/Tampa-iStock-2182199874.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 November 2024 - Yardi Matrix Blog","description":"Tampa\u2019s advertised asking rents fell 0.3 percent on a T3 basis through September to $1,789, near the U.S. average.","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\/tampa-multifamily-market-report-november-2024\/","og_locale":"en_US","og_type":"article","og_title":"Tampa Multifamily Market Report \u2013 November 2024","og_description":"Tampa\u2019s advertised asking rents fell 0.3 percent on a T3 basis through September to $1,789, near the U.S. average.","og_url":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2024-12-09T13:26:00+00:00","article_modified_time":"2025-03-18T16:04:58+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/08\/Tampa-iStock-2182199874.jpg","type":"image\/jpeg"}],"author":"Adina Rogoz","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Agota Felhazi","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/"},"author":{"name":"Adina Rogoz","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/1e376ba4add70694b922380ddbe946d8"},"headline":"Tampa Multifamily Market Report \u2013 November 2024","datePublished":"2024-12-09T13:26:00+00:00","dateModified":"2025-03-18T16:04:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/"},"wordCount":234,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/08\/Tampa-iStock-2182199874.jpg","keywords":["Multifamily Outlook 2024","Tampa"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/","url":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/","name":"Tampa Multifamily Market Report \u2013 November 2024 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/08\/Tampa-iStock-2182199874.jpg","datePublished":"2024-12-09T13:26:00+00:00","dateModified":"2025-03-18T16:04:58+00:00","description":"Tampa\u2019s advertised asking rents fell 0.3 percent on a T3 basis through September to $1,789, near the U.S. average.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/08\/Tampa-iStock-2182199874.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/08\/Tampa-iStock-2182199874.jpg","width":1200,"height":628,"caption":"Photo by Art Wager\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/tampa-multifamily-market-report-november-2024\/#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 2024"}]},{"@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\/1e376ba4add70694b922380ddbe946d8","name":"Adina Rogoz","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7708bca9e09cc5676d0f96a14b833143f233709c6888184035d1e1f75c05fabb?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7708bca9e09cc5676d0f96a14b833143f233709c6888184035d1e1f75c05fabb?s=96&d=mm&r=g","caption":"Adina Rogoz"},"description":"Adina Rogoz is a Senior Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2016 and is writing real estate related news, blog articles, reports and Q&amp;As. \ud83d\udce7 You can reach out to her at adina.rogoz@cpe-mhn.com","url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/08\/Tampa-iStock-2182199874.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/8552","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\/436"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=8552"}],"version-history":[{"count":1,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/8552\/revisions"}],"predecessor-version":[{"id":8556,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/8552\/revisions\/8556"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/8181"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=8552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=8552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=8552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}