MARKET SNAPSHOT

Tampa Q3 2026

AVERAGE RENT

$1,709 Q3 2026

OCCUPANCY RATE

91.8% Q3 2026

NET ABSORPTION

6,859 T4Q

ANNUAL RENT CHANGE

-2.5% Q3 2026

YoY OCCUPANCY CHANGE

-10 BPS

UNIT COMPLETIONS

7,609 T4Q

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KEY TAKEAWAYS
Renter demand in Tampa has accelerated meaningfully with net absorption roughly four times the year-ago level and annual absorption now covering about 90% of new completions.
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Supply pressure continues to recede, with construction starts down 26% from a year ago and the active pipeline at its lowest level since late 2020, positioning the market for further moderation in deliveries through 2027.
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Occupancy has firmed 40 basis points from its late-2025 low to 91.8%, though effective rents remain under pressure, declining 2.5% year over year as concessions persist across most submarkets.
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MARKET OUTLOOK

Tampa's rental market is moving steadily toward balance after absorbing an extended wave of new supply. Net absorption has been positive in every quarter since late 2022, demand outpaced completions this quarter by a comfortable margin...

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Tyler Carbonelli

Tyler Carbonelli

Senior Director

tyler.carbonelli@mmgrea.com

Connor Rollins

Connor Rollins

Senior Advisor

connor.rollins@mmgrea.com

Gonzo Bruno Rivera

Gonzalo Rivera

Associate

gonzalo.rivera@mmgrea.com

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