Tampa rent rises 6 months in a row, remains above US average

TAMPA, Fla. (WFLA) — A July rent report from ApartmentList shows the increasing cost of living in Tampa continues to rise. According to the report, Tampa rents have gone up nearly 2% month-to-month, and 20.5% compared to the year before.

“Tampa rents increased sharply over the past month,” ApartmentList said. “This is the sixth straight month that the city has seen rent increases after a decline in December of last year.”

ApartmentList reported that July’s median prices for Tampa rentals were currently at $1,449 for a one-bedroom apartment, and $1,787 for a two-bedroom. Compared to the state overall, Tampa’s rent growth is lagging behind, while Florida’s increases hit 22.6% year-over-year. However, the national rent averaged an increase of 14.1%, according to the report, signaling a bigger increase in Florida, and in Tampa.

“Throughout the past year, rent increases have been occurring not just in the city of Tampa, but across the entire state. Of the largest 10 cities that we have data for in Florida, all of them have seen prices rise,” ApartmentList reported. “The state as a whole logged rent growth of 22.6% over the past year. Here’s a look at how rents compare across some of the largest cities in the state.”

While Tampa prices are rising, the most expensive city listed in the Florida report was Pembroke Pines, where a median two-bedroom rent is $2,263. The 10 cities listed in the report for comparison as “largest” were Pembroke Pines, Miami, Fort Lauderdale, Hollywood, Tampa, St. Petersburg, Port St. Lucie, Orlando, Jacksonville, and Tallahassee.

ApartmentList reported that all 10 of those large cities have had rents rise year-over-year, sometimes as much as 29.2% as it did in Hollywood.

Tampa pricing is still above the national average in dollar value, as well as in growth percentages. ApartmentList reported the national median two-bedroom rent was $1,339 while Tampa’s was $1,787. Compared to other cities across the United States, the company reported prices were “generally more expensive in Tampa.”

Using Memphis, Tenn. as a comparison, Tampa prices were “more than one-and-a-half times” its price of $1,131.

More local to the Tampa area, ApartmentList provided a list of city rent prices.