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Rental Market Update
📊 Long-Term Rental Snapshot
Incentives are the name of the game! A few strategies some owners are opting to implement are a % of 1st months rent (or the entire month) free upon signing a lease. Although we are not huge proponents of a discounted deposit, that also is an alternative. As a company we are willing to refund (if resident is approved), application fees to also encourage applicants to apply!
Our company average over the last 30 days is 26 days on market for listing before we get an approved applicant nearly 50% faster than the national average for leasing currently.
(Data Last Updated in July) Per Zillow the average rental price across all property types in Tampa is $2,200 which is 4% higher than the national average.
Depending on the price of your rentals you can observe the supply challenges for different price points. $1,400-2,400 seems to be the most competitive price ranges.
Compared to just 30 days ago, there is SIGNIFICANT competition, increased by 10%+ of supply in the $1,300-2,500/mo. range. If you have vacancies in that area just know that its a battle right now.
📊 Short-Term Rental Snapshot
Tampa’s STR market saw a modest rebound in July, but growth is driven by fewer listings, not stronger demand. Supply continues to shrink, allowing remaining operators to capture more bookings.
Last 7 Days: ADR hit $154 (↓$6), RevPAR $99 (↑$2). Bookings rose to 5,139 (↑247). Active listings declined from 6,896 to 6,264 (↓9.2%), showing a sharp weekly supply drop.
Last 30 Days: Revenue reached $2.49M (↑$107K), ADR $158 (↑$3), RevPAR $92 (↑$4). Listings fell from 6,999 in June to 6,458 in July (↓7.7%), further tightening competition.
Last 365 Days: ADR $155 (↑$7 YoY), RevPAR $104 (↑$12). Active listings dropped from 8,659 to 7,626, a 12% year-over-year supply decline.
Why the differences in listings? The 7-day report shows only listings that were live and bookable that week, while 30- and 365-day reports include properties active part-time. This explains why KPIs rise even as demand stays flat — fewer competitors are capturing more of the market.
Takeaway: July’s revenue bump came from shrinking supply, not growing demand. Total booked nights remain flat versus last year. Operators who stay visible, price dynamically, and deliver strong guest experiences will outperform in this leaner market.
❎Tampa Bay a “Buyers Market”
New data out shows a continued price compression especially in Pinellas county.
Interest Rates & Economy Snapshot
US Economic Reports
The most recent jobs report states that Unemployment in Florida for June was 3.7 with the national average being 4.1
(U.S. Bureau of Labor Statistics)
The graph below shows that there is a 97.9% chance of “No Change” to interest rates at the upcoming FED meeting on July 30th, 2025.
However for the September 17th meeting, there is a 64.1% chance of some sort of reduction in rates.
Tampa News @TampaTomorrow
Buccaneer Bay Mini Golf – North Hyde Park
How many posts about North Hyde Park do we have to write before y’all start believing in the vision? It’s there. Trust us! So, we’re casually surfing permits like we always do, and we stumble on a Design Exception filing these usually hint at something interesting.
• This time, it was a request for 13 on-site parking spaces. Naturally, we kept digging. Glad we did. Turns out, those parking spaces are tied to 1002 N. Rome Ave, which is now set to become the Buccaneer Bay Mini Golf facility.
• Not much is revealed in the permits about the layout itself, but when we started researching, a possible sister location popped up: Buccaneer Bay Mini Golf at the Santa Cruz Boardwalk in California. That one has 18 holes, a black-light cave, and a tight two-story layout. And the roofline? It’s eerily similar to the old-school airport hangar that once housed Schiller’s Salvage here in NoHo exactly where this new concept is planned.
• So, add this to the growing NoHo list: a future pickleball and dog park concept, beer garden, Giancarlo’s restaurant with a bagel spinoff, Oro (Spanish food), Fresh Kitchen, Caloré, Handel’s Ice Cream, The NOW Massage and way more coming!
St. Petersburg News @StPeteRising
The Broker’s Corner
📉 Vacancy & Occupancy Rates
- As of early 2025, Tampa Bay absorbed nearly 6,000 new multifamily units delivered in 2024; occupancy moved down slightly, with projections showing stabilized occupancy of 93.2% by Q4 2025, implying a vacancy rate of approximately 6.8% at that time MMG Real Estate Advisors
- Submarket performance varies—Pasco County and Southeast Hillsborough saw heavier delivery pipelines & higher vacancies MMG Real Estate Advisors
🔁 Lease Renewals & Eviction Filings
- Occupancy sits around 92.9%, and Tampa’s lease renewal rate has increased to 69.7%, up roughly 3.3 percentage points year-over-year Business Observer
- Over the 12 months through mid‑2025, the region logged about 17,400 eviction filings, equating to roughly 5% of renter households, approaching pre‑COVID levels and about 5% below the 2016–19 baseline marketplacehomes.com.
🏢 Private Equity Ownership
- Private equity now owns nearly 23% of all apartment units in Tampa Bay—approximately 56,683 units—ranking among the highest rates nationally Axios
💸 Affordability & Rent Burden
- Around 61% of renters now spend in excess of 30% of their income on rent and utilities, up substantially from approximately 50% in 2019 Axios
📈 Rental Growth
- Tampa’s multifamily rents rose about 4.8% year-over-year in Q1 2025, surpassing national averages, particularly in submarkets like Brandon, Westshore, and Carrollwood United States Real Estate Investor
- Overall rent growth for Tampa Bay is forecasted to range from 1% to 2% during 2025, reflecting a slower but steady upward trend MMG Real Estate
Book/Podcast/Video Recommendation
Clear Value Tax: https://youtu.be/uF0JwmWRI00?si=A3o1qYdQtVJmeDsw
All-In Podcast: https://youtu.be/W960TW79QCI?si=oUHdsOOdTRPqcetE
💰Tampa Bay Investor Meetups
Every month we host local meetups through www.tbreia.com where there are multiple meetings a month around the area. All meetings are 7-9pm with a wide variety of topics being discussed. We’d love to see you out!
⭐⭐⭐⭐⭐ We’d love a 5 Star review!
💭Closing Thoughts
“Cash is King, You’ll never regret having too much of it on hand.” – Unknown
See what else I’m up to: https://linktr.ee/Jeremykloter
That’s it for this month! See you next time!
