Jan 29, 2025 - News
What size apartment $2,000 gets you in Tampa Bay
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A monthly rent of $2,000 can get you a 1,038-square-foot apartment in Tampa Bay, 65 feet smaller than the national estimate, per a new Redfin report.
The big picture: Across the country, renters with that budget can afford 70 more square feet than they could in 2022, when rents peaked — enough for a small office, according to Redfin.
What they're saying: Brand-new apartments flooded the market over the past few years, helping to slow rent hikes.
- "Renters are getting more bang for their buck than they were during the pandemic because asking rents have since stabilized below their record high and incomes have continued to climb," Redfin senior economist Sheharyar Bokhari wrote in the report.
Reality check: Many are pouring money into rent.
- Over a quarter of U.S. renters spend more than half of their income on housing, census data shows.
Between the lines: The median asking rent, or the cost of a new lease, was recently $1,740 in the Tampa metro area and $1,615 nationwide, per the report.
- Researchers analyzed apartments in buildings with five or more units that were listed on Redfin.com or Rent.com between last August and October.