Report: 11,100 apartment units to open in Tampa Bay this year

As local leaders continue to worry about a lack of housing in the Tampa Bay market, there may be some hope.

According to RentCafe's annual National Construction Report, the market is on track to see more than 11,111 new apartment units open by the end of the year. The majority of the new units, 4,031, will be in Tampa, with another 1,359 in St. Petersburg and 1,156 in Wesley Chapel, the report found. 

The new apartments are part of a national boom in multifamily construction expected to see 518,108 apartment units completed by the end of this year, a 9% increase compared with 2023 and a 30% increase from 2022, according to the report.