Tampa’s Multifamily Demand Accelerated Over First Half of 2024, Vacancy Still at 25-Year High

Tampa’s multifamily vacancy rate surpassed 10% at the beginning of the third quarter of 2024 for the first time since 2001. Supply and demand remain significantly out of balance here, and while demand surged in the first half of the year, record supply has driven the region’s vacancy rate higher in recent quarters.