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Sebring–Avon Park

Q2 2026
Rental Market Index

Tampa–St. Petersburg–Clearwater saw rents fall ~1% year-over-year in Q1 2026, with multifamily vacancy near 10.3% as strong new supply deliveries weighed on Class A asking rents while single-family rentals stayed relatively resilient.

Historical Trends — 9 Quarters

Average asking rent ($/mo) and vacancy rate (%) — Q2 2024 through Q2 2026

Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026$1,508$1,598$1,688$1,8500%4%8%15%
  • Vacancy %
  • Avg Rent

* Figures are modeled estimates based on Florida Realtors, Apartment List, RealPage, and Zillow ZORI data. Q2 2026 reflects preliminary estimates. For research and informational purposes only.

Tampa–St. Petersburg–Clearwater — Q1 2026 Rental Market Report

The Tampa Bay MSA entered Q1 2026 with a softer multifamily market as a large wave of new apartment deliveries continued to be absorbed. After years of strong rent growth, the market is normalizing with rents declining approximately 1% year-over-year and vacancy rising to about 10.3%.


Key Metrics — Q1 2026

  • Average monthly rent: ~$1,950 (agentsgather.com)
  • Year-over-year change: −0.96%
  • Multifamily vacancy: ~10.3% (flalandlord.com)
  • Florida statewide change: −3.0% (Apartment List, March 2026)


Market Conditions

Ybor City, Channel District, and downtown St. Pete continue to attract young professionals, with demand supported by the growing tech and finance sectors. South Tampa and Hyde Park remain premium single-family rental markets with very low availability. New luxury apartments in Wesley Chapel, Brandon, and Westchase are offering concessions of one month free or more. Class B product in established neighborhoods is more stable. St. Petersburg's arts and culture scene continues to attract renters willing to pay a premium.


Outlook for Landlords

Tampa Bay's long-term fundamentals remain strong — continued corporate relocations, the Port of Tampa, and healthcare/finance employment support durable demand. New supply is expected to taper through late 2026, after which vacancy should compress and rent growth resume. Landlords should price competitively and invest in unit quality to stand out in the current environment.

Sources: agentsgather.com (2026), flalandlord.com (April 2026), Apartment List (March 2026), Florida Realtors, Florida Housing Data Clearinghouse.

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