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Why A USF Economist Says Tampa Rents Could Drop In 2022 & 2023

It’s not just home buyers feeling the pain of high prices of real estate. Renters are having just as much of a rough go of it. Rent in the Tampa area jumped about…

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It's not just home buyers feeling the pain of high prices of real estate. Renters are having just as much of a rough go of it. Channel 8 reports rents in the Tampa area went up about 38% over the past year. But one local USF economist says there's relief coming.

Chris Jones says the construction of apartment complexes all over Tampa Bay will eventually saturate the market. He thinks over the next two years that rents in Tampa will drop between 10 and 15 percent. That's still higher than the pre-pandemic rents, but it's good news at least that prices are going to level off.

The average apartment right now in the Tampa area is going for about $1,600 a month. The decrease he's predicting will bring that number down to about $1,360 to $1,440. Not a giant drop, but for renters, it's welcome news to hear that rental prices aren't likely to keep going upward. [Source: Channel 8]

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Hear Geno on the air weekday afternoons. Geno's passions include fat guy food, concerts, sports, travel to Europe and South America. He loves 80s and 90s music, from MTV hairbands to old school freestyle, alternative rock to TRL era jams. Geno's radio career began in his hometown of Portland, Maine. Since then he's been on the air coast to coast from Boston to Las Vegas, Tampa to California.