GlobeSt.com UPDATE: Tampa Apartment Market Remains Strong

TAMPA, FL-Demand didn’t keep up with supply in 2001 but Tampa’s multifamily rental market remains strong as the area heads into 2002, according to a new study by Carrollton, TX-based M/PF Research. Tampa is 80 miles west of Downtown Orlando.

Completed new apartments last year total 6,469 but only 2,720 units were rented. In the fourth quarter, a scant 660 units were rented. Average occupancy dropped 1.9 percentage points to 93.6%.

But those dismal numbers don’t faze M/PF Research Director Gregg Willett, largely because Tampa was still adding renters in late 2001 while other major metro centers were either stagnant or losing tenants.