Tampa Multifamily Market Report – February 2025

Market Overview

Yardi Matrix reports that Tampa’s multifamily sector is entering a transitional phase. Rent growth turned negative in early 2025, dropping by over 3% year-over-year, while occupancy has started to flatten following several quarters of softening. Developers remain active, but new construction starts are slowing—suggesting a market correction may be underway. Absorption has improved modestly compared to Q4 2024, driven by job growth and strong in-migration patterns. Long-term fundamentals remain intact, even as short-term pressures persist.

About Yardi Matrix

Yardi Matrix is widely regarded as one of the most robust and comprehensive data platforms in the commercial real estate space. Their multifamily intelligence platform delivers not just rent and occupancy trends, but also detailed ownership info, construction timelines, loan data, and competitive property sets across 160+ U.S. markets. Yardi’s credibility stems from its integration with Yardi’s broader property management ecosystem—providing real-time, on-the-ground reporting straight from operating platforms. For stakeholders in dynamic metros like Tampa, this makes Yardi Matrix a trusted source for forward-looking investment, development, and asset management decisions.