Increased Competition for Tampa, Florida Renters Causing Four- and Five-Star Multifamily Landlords To Drop Asking Rents

The Tampa, Florida, multifamily market has been a hot market for in-migration for many people in the years since the pandemic. Landlords of four- and five-star properties were empowered to increase asking rents and construct thousands of new units on seemingly endless levels of demand, but rents are dropping again amidst increased competition.