Why Tampa Bay

Multifamily Market Snapshot 176,137 UNITS Tampa Bay Inventory

Q1 2025

EFFECTIVE RENT VS STABILIZED OCCUPANCY RATE

ABSORPTION VS COMPLETIONS

STABILIZED OCCUPANCY RATE Excludes Properties Still In Their Initial Lease-Up Period 93.3%

8.0k

$ 2.0k

100 %

$ 1.8k

98 %

6.0k

$ 1.6k

96 %

4.0k

Effective Rents Increased 33.5% Over the Past Five Years ENDING 1Q25 AT $1,900 PER UNIT

$ 1.4k

94 %

2.0k

$ 1.2k

92 %

0.0k

2020

2021

2022

2023

2024

2025 YTD

8,311 Units Under Construction

$ 1.0k

90 %

1Q20

1Q21

1Q22

1Q23

1Q24

1Q25

Effective Rent Per Unit

Stabilized Occupancy Rate

Construction Completions

Overall Net Absorption

29,841 Units Delivered Since 2020

Over $15.0 Billion In Sales since 2020, WITH 2021 SETTING A RECORD $5.2 BILLION

Cushman & Wakefield | Why Tampa Bay

Source: CoStar