Despite a decline from last year, Tampa Bay rents remain above the national average. Tampa is the 27th most expensive large city in the US with a median rent of $1,707 the median rent currently stands at $1,408.
In St Petersburg the rent sits at $2,013 for a one bedroom and $2,635 for a two bedroom. For comparison the median rent across the nation is $1,177 for a one bedroom and $1,349 for a two bedroom and $1,372 overall.
Median rent in Tampa is 24.4% higher than the national average and is similar to the prices you would find in North Las Vegas and Long Beach California.
Source: Tampa Bay Business Journal
30 Year Fixed-Rate Mortgage Reaches its Highest Level in Over Twenty Years
The economy continues to do better than expected and the 10-year Treasury yield has moved up, causing mortgage rates to climb. The last time the 30-year fixed-rate mortgage exceeded seven percent was last November. Demand has been impacted by affordability headwinds, but low inventory remains the root cause of stalling home sales.
