TAMPA, Fla. (WFLA) — Tampa’s average median rental costs were up 2.1% since January 2022, but had gone down nearly a full percent in December, according to new data from ApartmentList.com.
The data from ApartmentList showed the median cost of a one-bedroom apartment in the city was about $1,400, while the cost of a two-bedroom apartment was about $1,730.
The rent report showed that Tampa, compared to both the state of Florida overall and the United States as a whole, had a slower rent cost increase than the rest. While the U.S. rental prices rose 4% and just a bit lower in Florida overall at 4.9%, Tampa’s 2.1% was low. However, that doesn’t mean the rental costs themselves were lower or slower than the rest of the country.
While the median price for Tampa rentals was around $1,700 across all formats, the national average was $1,153 for a one-bedroom, $1,321 for a two-bedroom, and $1,344 across all types. ApartmentList reported Tampa rent prices were 26.7% higher than the national median, closer to prices found in Virginia Beach or Las Vegas, rather than other parts of the U.S.
Of the 100 largest cities in the U.S., Tampa measured up at No. 27. The most expensive city in the country to rent in was Irvine, Calif., where median rental costs are $3,067. The lowest among the 100 largest cities was Cleveland, Ohio, where rent isn’t even $1,000 per month. Instead, Cleveland residents’ median rent costs $781.
Even just in the Tampa Bay area, the rental costs in Tampa are higher. Across the metro-wide medians, Tampa is a reported 3.8% higher than its neighboring cities, according to ApartmentList.
Among cities in the area, Pinellas Park is the metro’s most affordable city, with a median rent of $1,422. The metro’s fastest annual rent growth is occurring in Largo (5.3%) while the slowest is in Wesley Chapel (-4.6%),” ApartmentList said.
Riverview’s median rent, measured between both one and two-bedroom apartments, was reported as the highest in the area, at $2,052. For its two-bedroom rent, the median was $1,852, while its one-bedroom costs were a median $1,643.
|City||Median 1BR||Median 2BR||M/M Change||Y/Y Change|
|Town ‘n’ Country||$1,567||$2,009||-2.2%||0.6%|