The rental market in Tampa has hit its stride in recent quarters as long-awaited job growth has emerged and retirees have resumed their migration to Florida. In fact, Tampa was the number one destination for northerners relocating to warmer climates.
This migration trend is boding well for apartment and single-family rental owners. As a result, operating fundamentals have improved significantly over the past few years, spurring a new round of apartment and single-family construction.
Sufficient demand will delay the impact of new development well into next year, providing landlords ample leverage to aggressively lift rates. Part of the new demand stems from healthcare adding back-office jobs in the market. Johnson & Johnson will add 500 jobs at a new shared-services headquarters. CareSync, meanwhile, is creating another 500 software positions.
Overall, the metro is poised to have one of the best operational years in the nation.
Forecast for the Tampa Market
Learn more about what is anticipated for the Tampa market by downloading the full Tampa Market report created by our Research Services team. This report covers multiple economic factors that determine risk and reward for single family investors.