Sticks of Fire: a Tampa blog

Another month, another ranking…

Forbes now says that Tampa is among the top five cities for renters.

Much like a buyers’ market in the residential sector, the best renters’ markets occur where supply is abundant, price growth is flat and renters can get the best value for their dollar.

… Miami and Tampa are vastly oversupplied in the condo market and both are seeing significant price declines. As a result, luxury condos built to be sold are instead being rented, and damaging luxury rents.

More about what makes Tampa number five overall:

After the first quarter of 2007, we named Tampa the best buyers’ market for residential real estate, as prices were inexpensive and inventory was high. In this market, the rental market is a mirror image of the sales market. Year-over-year vacancy rates indicate a quickly loosening market where price growth has been low and rentals remain very affordable for the local renter.

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