TAMPA, Florida (TodayNews). According to a report from Rent Cafe, Tampa Bay’s rental market is one of the most competitive in the United States.
Rent Cafe reports that six of the nation’s top 20 rental centers are located in Florida, making the state the most competitive in the nation.
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The rental website says it analyzed 137 markets in the US and ranked them according to five key metrics:
- Number of days the apartments were vacant
- Percentage of apartments that were occupied
- How many tenants applied for the same apartment
- Percentage of Tenants Renewing Leases
- Share of new apartments commissioned
Tampa Bay Market ranked 19th on the Rent Cafe list with 82 points.
Nearly six percent of apartments on the market are empty, according to Rent Cafe. The report says prospective tenants in the Tampa Bay area must compete with 10 other tenants to secure a lease, with apartments filling up within 41 days.
“All of Florida is seething with demand thanks to a large number of remote workers of all ages and the super-wealthy newcomers (as well as many retirees) who are looking for tax breaks, sunshine and a more relaxed lifestyle,” Rent Cafe said in a post.
Here are the best rental markets in Florida, according to Rent Cafe.
The most competitive market, Miami-Dade County, is twice the national average, according to Rent Cafe.