Tampa is among the metros that saw the largest rent increases over the last decade
By Brendan Ward
Tampa Bay Business Journal
Published: Dec 13, 2019

A recent report from Zillow looked at rent increases for 50 largest metros in the U.S.

Tampa had the 14th highest rent increase among the top 50 metros and the second highest in Florida behind Orlando at No. 5. Jacksonville and Miami also cracked the top 20 at Nos. 18 and 19.

Nationwide, renters spent a combined $4.5 trillion during the 2010s with $512 billion being spent on rent in 2019. While rent is up 2.3 percent from last year, rent increases slowed in the latter part of the decade, Zillow (NASDAQ: ZG) said.

"While the total amount of rent paid has increased each year this decade, that trend is by no means immutable," Zillow Group Economist Joshua Clark said in a statement. "With rental appreciation expected to decrease in the coming year and a homeownership rate that has been ticking up over the past few years, a small or even negative change in total rental spending could be in the cards in the early 2020s."

Overall, Austin, Raleigh and Denver had the largest rent increases in the 2010s, while Memphis, New Orleans and Virginia Beach had the smallest increases. No metros saw rent increase over the decade, though seven did see rent fall over the last year.