Tampa Mayor Says Housing Crisis a Major Concern, Cites Deep-Pocketed Out-of-Town Investors

Tampa Mayor Jane Castor addressed the city’s housing crisis during a State of the City speech on Wednesday, May 11, citing “out-of-town investors” as a factor in rising home costs. Castor said that for every available apartment, there were more than 20 people willing to rent. “People who want to buy homes are facing the smallest inventory in decades and cutthroat competition with other buyers,” Castor said, “including deep-pocketed, out-of-town investors who are driving up home prices well beyond what is affordable.” Tampa home values increased over 33 percent in the last year, according to data provided by Zillow. Rental prices in the city grew by a 28 percent average between 2020 and 2021, according to a study published by researchers at Florida Gulf Coast University, Florida Atlantic University, and Longwood University in March 2022. Credit: City of Tampa via Storyful

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