2025 E-Insights Report
Executive Summary
This report also presents key insights from the trend analysis by the USF research team. The goal is to benchmark the Tampa Bay region with respect to other MSAs and provide meaningful insights for policy recommendations. The researchers used both traditional economic variables and real-time data signals to derive the insights.
Key Insights
Economic Outcomes
Tampa Bay shows steady improvements in key indicators such as personal income growth and poverty reduction, reflecting positive economic momentum though the region’s competitive position has not significantly improved.
Moreover, the region struggles with persistently high household debt and a declining rank in cost-of living affordability, signaling challenges in financial stability and competitiveness.
While Tampa Bay remains a desirable location due to strong population growth, its overall economic competitiveness continues to lag peer MSAs, indicating the need for strategic efforts to strengthen its economic competitiveness as a region.
On balanced growth and racial economic indicators, Tampa Bay’s performance presents a mixed picture. The region has made significant strides in reducing disparities in unemployment and poverty rates, as well as maintaining a low educational attainment gap. Persistent challenges remain in areas such as labor force participation and increasing income inequality.
Affordability
Tampa Bay has consistently improved its competitive position across multiple affordability indicators, cementing its recovery post-pandemic. This upward trend is particularly evident in areas like housing, consumer prices and education.
However, there are areas where Tampa Bay faces rising affordability pressures. The housing market has seen a gradual increase in costs, with Tampa Bay ranking between ninth and 11th place over the years. Housing costs have grown from 2008 to 2022, in comparison to other regions.
The cost of living in Tampa Bay, especially concerning utilities and gas prices, has fluctuated over the years, but utility costs remain relatively stable in comparison to other MSAs. Lower education costs have remained a highlight, with Tampa Bay improving its affordability ranks for both undergraduate and graduate education.
Tampa Bay has also demonstrated moderate improvements in public services affordability, particularly in public transportation usage, though health care expenses have steadily increased.
Talent Pipeline
Since 2020, Tampa Bay has remained stable in the middle tier across multiple talent pipeline indicators.
Tampa Bay ranks well for international migration, but lags behind other Florida markets in Miami and Orlando. The future success of Tampa Bay’s economy is intrinsically tied to the strength and stability of its talent pipeline. This report found improvements in first-time in college enrollment and stable interest in online job searches for the region, as well as steady growth in international migration.