2025 E-Insights Report

Zillow Observed Rent Index

• San Diego consistently recorded the highest rents across all years, followed by Miami and Seattle, while St. Louis consistently had the lowest rents, reflecting strong economic activity and sustained rental demand in the former regions and relative affordability in the latter.
• Tampa Bay’s ranking shifted from seventh in 2019 to 16th in 2023, indicating its growing attractiveness and demand in the rental market.
• Rents in Tampa Bay surged by 81% from 2015 to 2023, with the sharpest growth occurring after 2020, indicating the impact of pandemic-driven demand and a broader appeal in the middle-tier rental market.

Trend Over Time

Competitive Position Trend

_{The Zillow Observed Rent Index (ZORI) tracks typical market-rate rents across regions, focusing on the 35th to 65th percentile to represent the middle-tier rental market. It includes All Homes, Single-Family Residences, and Multi-Family Residences, reflecting trends in broader rental housing.Source: Zillow Economic Research, Zillow Observed Rent Index. (Data downloaded from Zillow Research Data.)}