In 2025, the Tampa Bay housing market is beginning to level out after a surge of new residents moved to the area following COVID-19 pandemic.
Across Florida, about 68% of rental markets tracked by Rentometer have experienced flat or declining rent. However, Tampa and Clearwater stand out as exceptions, with slight increases in rental prices.
“The rent growth we’re seeing in 2025 comes after a decline in 2024, so part of the increase is more of a rebound than a continuation of strong upward momentum,” said Isabelle Lapsley, manager of Rentometer. “When comparing 2025 to 2023, rents across all three cities—Tampa, St. Petersburg and Clearwater—have largely stabilized following the sharp increases seen in the immediate post-pandemic years.”
Lapsley said that some coastal markets have seen costs decrease for both renters and buyers, noting that Pinellas County experienced one of the largest population declines in the country.
Despite signs of stabilization, affordability remains a major concern. The 2026 State of the Region Competitiveness Report found that many renters are still cost-burdened, as wage growth has not kept pace with housing costs.
The report found the average wage increased 5% in the Tampa region and the median household income increased to $76,741.
“People are working, some are earning more, yet many families still struggle to stay afloat. While modest affordability improvements are encouraging, economic resilience will require sustained focus and bold, collective action,” according to the 2026 State of the Region Competitiveness Report.
In Tampa, Rentometer reports that studio apartments in downtown and Channelside average around $1,700, while one-bedroom units are closer to $1,900. Two- and three-bedroom units range from $2,500 to $3,000. In Hyde Park and Davis Islands, studios start around $1,500, with three-bedroom homes averaging about $2,700.
In Clearwater, studio apartments average about $1,400, and one-bedroom units start around $1,600. Two- and three-bedroom rentals typically range from $2,000 to $2,400.
In St. Petersburg, studios average around $1,500, while one-bedroom apartments range from $1,600 to $1,700. Two-bedroom units average about $2,200, with three-bedroom rentals reaching up to $3,000.
According to Zillow, the average rent across all bedroom types in Tampa is about $2,028, down $167 from the previous year. Clearwater averages around $2,200, a decrease of $220, while St. Petersburg averages about $2,200, down roughly $100.
The 2026 E-Insights Report also found that many renters are spending 30% or more of their income on housing, a common benchmark for cost burden.
While rent prices are no longer rising as sharply as they once did, many residents across Tampa Bay continue to feel the strain as incomes struggle to keep up with the cost of living.