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Tampa rent 18th highest in nation's largest metropolitan areas
Ariel Plasencia reports
TAMPA, Fla. - April data from two Florida universities studying rental rates shows Tampa residents need to be making over $84,000 on average to afford rent.
Florida Atlantic University, Florida Gulf Coast University and the University of Alabama have been studying rental rates. According to their April 2023, rent in Tampa is 5.04% higher than last year.
As defined by the U.S. Department of Housing and Urban Development (HUD), residents are considered "rent burdened" if they spend more than 30% of their annual income toward rent and "severely rent burdened" if they spend more than 50%.
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According to FAU and FGCU’s report, the average rent in Tampa is $2,118.75, which ranks 18th highest among the nation’s largest metropolitan areas.
With that average rent number in mind – and the percentages defining what it means to be "rent burdened" – a Tampa resident would need to make $84,750.12 to avoid being "rent burdened."
Metropolitan Ministries is a non-profit that provides all kinds of assistance, including housing.
"They've either been evicted because the rent had increased, and they can't afford that rent, or once they're evicted, they can't find an affordable place to live," said Justine Burke, Metropolitan Ministries vice president of marketing and communication.
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It’s more people than the non-profit has ever seen before.
"Right now, I know that we have hundreds of families on our waitlist. We have more than 500 families a month coming to us, looking for a housing solution," Burke said.
For more information or to donate to Metropolitan Ministries, visit www.metromin.org.