Rent prices in Tampa Bay, other Fla. cities, fall for the first time since the pandemic
TAMPA, Fla. — The Realtor.com® May Rental Report found renters are beginning to see some relief, with the median asking monthly rent in the 50 largest US metros decreasing -0.5% year-over-year to $1,739.
Rent in the Tampa Bay area saw a decline of -4.0%, while there was a -2.3% decline in the Orlando-Kissimmee-Sanford area.
Nationally, rent prices increased $3 from last month but were down $38 from the July 2022 peak. Realtor.com®’s 2023 Forecast Update predicts that rents will continue to drop, averaging -0.9% from 2022.
“In May, we saw the first year-over-year decline in rents, a sea-change from the