MARKET SNAPSHOT

Tampa Q3 2025

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AVERAGE RENT

$1,786 Q3 2025

OCCUPANCY RATE

92.1% Q3 2025

NET ABSORPTION

5,441 YTD Q3 2025

ANNUAL RENT CHANGE

0.0% Q3 2025

ANNUAL OCCUPANCY CHANGE

-100 BPS Q3 2025

UNIT COMPLETIONS

6,982 YTD Q3 2025

KEY TAKEAWAYS

Despite slowing net absorption observed in Q3 2025, Tampa’s multifamily market remains resilient, with renter demand contracting less sharply than the national trend.

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While the headline annual rent growth figure for Q3 may disappoint, perspective is important: average rents remain more than 25% above early 2020 levels, and only off 2.7% from their pandemic-era peak of $1,836.

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With deliveries trending lower for three consecutive quarters and Tampa outperforming several Florida peers on rent resilience, the market is positioned for meaningful improvement and firmer rent growth by early 2026, barring a broader economic downturn.

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MARKET OUTLOOK

Tampa’s Q3 multifamily performance reflects a gradual return to long-term fundamentals. Absorption is expected to remain positive, though more in line with historical averages as in-migration and household formation continue to drive demand...

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