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One bedroom apartments top $1,000 as rent rises across Tampa Bay region

$1,011 average for one-bedroom in Tampa
Report: Tampa cost of living lowest in Florida
Posted at 9:56 PM, Feb 06, 2019
and last updated 2019-02-07 09:48:27-05

TAMPA, Fla. — Rent is rising across the Tampa Bay region as the average price for a one-bedroom apartment in Tampa now tops $1,000.

According to ApartmentList.com, Tampa's average price jumped 3 percent from last year. That's double the price hike seen statewide.

150 people move to Tampa Bay a day, congesting bay area roads

The median cost for a one-bedroom apartment in Tampa now runs $1,011. In St. Petersburg, it's about $952.

“The dream is to stay in Tampa," said USF senior Matigan Paulsen. "I’ve been here for four years, I love it here.”

But Paulsen is finding it more difficult to make that dream a reality. She's now apartment hunting for when she graduates in May and can't find many options below the $1,000 price point.

“It makes it really hard to exist in the city and love the city when you don’t have extra money to spend on the fun things to do here when you’re spending it all on rent," said Paulsen.

ApartmentList.com shows Tampa rent grew the fastest nationwide in 2016 and 2018.

Realtor Lisa Schwarzen with Coldwell-Banker says a population boom is sparking greater demand, meaning prices will only go up.

“There’s a lot of people moving to this area, there’s a lot going on in this area," said Schwarzen. "There’s lots of areas that are in close proximity where you can get a lower rental rate and still be close to everything."