In Tampa Bay, it takes three minimum wage jobs to make rent, report says
Rent increases across Tampa Bay this year aren’t just breaking records. They’re obliterating them.
As of late August, asking rents for apartments have increased since the beginning of the year by 21.7 percent, according to data from CoStar Group, a real estate data firm, and aren’t showing signs of slowing.
In the last two decades, the next-highest rent growth year was in 2015 — at 6.2 percent. Both analyses include Pinellas, Hillsborough, Pasco and Hernando counties.
“Studios are $1,500. It’s crazy,” said Bridget Cunningham, who’s been renting a duplex in South Tampa. She moved to the area from Jersey City about two years ago, seeking a place where she could afford rent on a single income.