Tampa, FL Multifamily Market Report | Yardi Matrix | Q4 2025

Market Overview

Tampa delivered approximately 8,500 units through the first three quarters of 2025, and the pressure on fundamentals was visible. Average asking rents fell 0.6% on a trailing three-month basis through September to $1,789, and declined 0.7% year-over-year, contrasting with a 0.6% gain at the national level. Occupancy settled at 94.6% in August, just below the national average of 94.7%. With 18,000 units still under construction and more than 104,500 in planning and permitting, supply will remain a defining factor. On the demand side, the metro added 17,700 net jobs over 12 months through July, and major infrastructure projects, including the $1.1 billion Tampa Harbor deepening and a new terminal at Tampa International Airport, are advancing toward completion.

About Yardi Matrix

Yardi Matrix is a national commercial real estate data and analytics firm serving investors, developers, and property managers across asset classes. Their Tampa November 2025 multifamily market report covers asking rents, occupancy, construction pipeline activity, and investment volume to help owners and investors assess market conditions. To read the full report, click here.