The Tampa Bay Partnership has released a comprehensive regional housing affordability report examining the severe housing challenges facing Hillsborough, Pinellas, and Pasco counties.

The 137-page report, titled “The Housing Equation, Supply, Demand & Affordability in the Tampa Bay Region,” reveals that median rent increased nearly 50% over five years while wages grew only about 30% during the same period. Homes priced under $200,000 dropped from 30% of sales in 2019 to just 5% in 2022.

Between 2018 and 2023, the region added nearly 100,000 households but constructed only 82,000 housing units, contributing to rising costs and widening affordability gaps.

Looking ahead, Tampa Bay is projected to gain 564,000 residents and 211,000 households by 2035. To accommodate this growth, the region will need approximately 254,700 new housing units—an average of 21,225 units annually, including 10,685 single-family and 10,540 multifamily units.

The research was funded by J.P. Morgan Chase and conducted by a team of researchers hired by the Tampa Bay Partnership. Sarah Burgoyne, senior director with the organization, said community leaders had requested the data to better understand housing trends.

The partnership is seeking community input through a webinar scheduled for February 5 from 10 to 11 a.m. The organization hopes the findings will inform potential solutions, including the development of a regional action plan.

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