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Tampa Bay, Florida’s multifamily market posts strongest absorption since 2021

Vacancy declines and rent growth return as demand outpaces supply
MAA Breakwater, a 495-unit property, completed in January 2025. (CoStar)
MAA Breakwater, a 495-unit property, completed in January 2025. (CoStar)
CoStar Analytics
August 7, 2025 | 3:30 P.M.

Tampa Bay’s multifamily market is showing renewed strength in 2025, with fundamentals improving considerably over the past few quarters.

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