Tampa Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Tampa, FL (the Tampa-St Petersburg-Clearwater metro area) was $1,160 in 2019 according to the Census ACS survey.1 Average gross rent in Tampa was $1,167 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Tampa median and average rent data will be released in September of 2021.
Data is also available below for Tampa rental vacancy rates, Tampa rent as a percent of median income and the fraction of renters in Tampa.
Real Gross Rent in Tampa Florida (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Florida Median Gross Rent | $1,238 | +2.91% | +8.88% |
| Tampa, FL Median Gross Rent | $1,160 | +1.05% | +7.51% |
Tampa, FL Real Gross Rent Trends
At $1,160, real median gross rent in Tampa was at its highest level in 2019 since the series began in 2005. At $1,167, real average gross rent in Tampa was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Tampa: Tampa FL Median, Tampa FL Average, Florida Median, US Median
Real Gross Rent History for Tampa
| Date | US Median |
Florida Median |
Tampa, FL Median |
Tampa, FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,160 | $1,167 |
| 2018 | $1,077 | $1,203 | $1,148 | $1,164 |
| 2017 | $1,043 | $1,163 | $1,103 | $1,133 |
| 2016 | $1,027 | $1,137 | $1,079 | $1,107 |
| 2015 | $1,017 | $1,110 | $1,035 | $1,074 |
| 2014 | $986 | $1,059 | $1,010 | $1,038 |
| 2013 | $953 | $1,024 | $974 | $1,003 |
| 2012 | $940 | $1,015 | $949 | $1,010 |
| 2011 | $941 | $1,025 | $979 | $1,013 |
| 2010 | $955 | $1,058 | $1,006 | $1,044 |
| 2009 | $960 | $1,085 | $1,035 | $1,065 |
| 2007 | $927 | $1,087 | $1,009 | $1,046 |
| 2005 | $910 | $1,011 | $945 | $963 |
Tampa Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Tampa Florida was 8.18% according to Census ACS data.
Rental Vacancy Rate in Tampa Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Tampa, FL | 8.18% | +0.95% | +2.03% |
Trends in Tampa, FL Rental Vacancy Rate
The rental vacancy rate in Tampa peaked in 2009 at 13.44%. Since then it has fallen by 5.26% to 8.18%. Data records for this series originated in 2005. From a 2016 post peak low of 6.15%, the rental vacancy rate has increased by 2.03%.
Rental Vacancy Rate: Tampa FL, Florida, US
Historical Rental Vacancy Rate data for Tampa
| Date | US | Florida | Tampa, FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 8.18% |
| 2018 | 6.15% | 8.52% | 7.23% |
| 2017 | 6.18% | 9.16% | 7.33% |
| 2016 | 5.89% | 8.30% | 6.15% |
| 2015 | 5.85% | 7.79% | 6.77% |
| 2014 | 6.32% | 8.66% | 8.34% |
| 2013 | 6.49% | 9.22% | 8.18% |
| 2012 | 6.77% | 9.37% | 7.22% |
| 2011 | 7.40% | 10.91% | 11.19% |
| 2010 | 8.17% | 12.17% | 10.94% |
| 2009 | 8.43% | 13.16% | 13.44% |
| 2007 | 7.87% | 11.55% | 10.26% |
| 2005 | 7.74% | 7.72% | 8.00% |
Rent as a Fraction of Income
Using median household income data for Tampa, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Tampa, median monthly gross rent as a fraction of median household income was 24.04% in 2019 according to the ACS.
Tampa Florida Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Florida | 25.08% | -0.49% | -0.54% |
| Tampa, FL | 24.04% | -0.61% | -0.14% |
Trends in Tampa, FL Rent as a Fraction of Income
The fraction of median Tampa household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 24.80%. Since then it has fallen by 0.76% to 24.04%.
Fraction of Income towards Rent: Tampa FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Tampa Florida
| Date | US | Florida | Tampa, FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 24.04% |
| 2018 | 20.50% | 25.57% | 24.65% |
| 2017 | 20.13% | 25.74% | 24.59% |
| 2016 | 20.43% | 25.62% | 24.18% |
| 2015 | 20.63% | 25.40% | 23.95% |
| 2014 | 20.89% | 25.36% | 24.50% |
| 2013 | 20.78% | 25.34% | 24.19% |
| 2012 | 20.65% | 25.42% | 24.11% |
| 2011 | 20.70% | 25.71% | 24.80% |
| 2010 | 20.50% | 25.59% | 24.80% |
| 2009 | 20.12% | 25.54% | 24.73% |
| 2007 | 18.66% | 23.22% | 22.12% |
| 2005 | 18.89% | 22.88% | 21.68% |
Renter Fraction in Tampa Florida
You can calculate the renter fraction in Tampa in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Tampa as a fraction of total Tampa households. In 2019 33.27% of households were renters according to Census ACS data.
Tampa Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Florida | 33.75% | -0.33% | -2.12% |
| Tampa, FL | 33.27% | -2.00% | -3.22% |
Trends in the Tampa, FL Renter Fraction
The Tampa household renter fraction peaked in in 2015 at 37.06% and is now 3.79% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Tampa FL, Florida, US
History of Tampa Renter Fraction
| Date | US | Florida | Tampa, FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 33.27% |
| 2018 | 36.05% | 34.08% | 35.27% |
| 2017 | 36.13% | 34.85% | 35.62% |
| 2016 | 36.88% | 35.87% | 36.49% |
| 2015 | 36.97% | 36.22% | 37.06% |
| 2014 | 36.90% | 35.95% | 37.05% |
| 2013 | 36.50% | 35.21% | 36.60% |
| 2012 | 36.09% | 34.36% | 35.72% |
| 2011 | 35.42% | 33.28% | 33.56% |
| 2010 | 34.65% | 31.85% | 32.43% |
| 2009 | 34.13% | 31.52% | 32.14% |
| 2007 | 32.80% | 29.39% | 28.97% |
| 2005 | 33.10% | 30.43% | 29.26% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
