Why Tampa Bay

Multifamily Market Snapshot 171,139 UNITS Tampa Bay Inventory

Q1 2024

EFFECTIVE RENT VS STABILIZED OCCUPANCY RATE

ABSORPTION VS COMPLETIONS

STABILIZED OCCUPANCY RATE Excludes Properties Still In Their Initial Lease-Up Period 92.9%

8.0k

$ 2.0k

100 %

$ 1.8k

98 %

6.0k

$ 1.6k

96 %

4.0k

Effective Rents Increased 36.7% Over the Past Five Years ENDING Q1 2024 AT $1,819 PER UNIT

$ 1.4k

94 %

2.0k

$ 1.2k

92 %

0.0k

2019

2020

2021

2022

2023

2024 YTD

$ 1.0k

90 %

10,954 Units Under Construction

1Q19

1Q20

1Q21

1Q22

1Q23

1Q24

Effective Rent Per Unit

Stabilized Occupancy Rate

Construction Completions

Overall Net Absorption

26,133 Units Delivered Since 2019

Over $16.4 Billion In Sales Over The Past 5 Years WITH 2021 SETTING A RECORD $5.2 BILLION

Cushman & Wakefield | Why Tampa Bay

CoStar Data Depicted