Tampa rent up almost 40% compared to last January, report says

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TAMPA, Fla. (WFLA) — A new report on 2022 rent prices in Tampa Bay shows price hikes across the board for major cities in the area. Tampa’s rent was up 38.1% compared to January 2021.

The Zumper Tampa Metro Area Report built its price analysis on active listings that hit the market in December 2021, then used the data to compare median rents in cities such as Tampa, Sarasota and Clearwater, among others. Only seven cities were surveyed in the report.

It’s important to note that the report from Zumper did not include every large city in Tampa Bay. One notable exception from the report was St. Petersburg, Fla., with a population of more than 250,000, where a report from ApartmentList said rental prices were rising as much as 29.6%.

Zumper also focused exclusively on affordability for one-bedroom apartments. In the cities analyzed, prices ranged from $930 per month in Lakeland to $1,950 per month in Sarasota. Lakeland, the city with the lowest monthly rent of those studied, only rose 4% compared to last January.

Tampa was on the higher side of the center, with one-bedroom rents averaging $1,630 per month. While the City of Sarasota’s average rent for a one-bedroom apartment was the highest in the study, it wasn’t the only Sarasota County city with big prices.

Venice, Fla. had rent as high as $1,850 per month for a one-bedroom apartment, but of the cities shown, actually had a rent price decrease.

According to Zumper’s data, Venice rents dropped 24.5%, the only city they surveyed to have a drop. By comparison, Sarasota’s rent prices rose 22%, year-over-year. Interestingly, while Venice one-bedroom rental prices went down, significantly, its two-bedroom apartments buck the city trend and went up 1.5%, still the lowest increase among the cities surveyed.

Two-bedroom apartments in Tampa had a 35.5% increase, not quit as high as one-bedroom apartments, but still the highest on the list. The price increases come shortly after Zillow predicted Tampa to be the hottest housing market in the United States for 2022.

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