St. Petersburg Rent Report: April 2024

Welcome to the Apartment List April 2024 Rent Report for St. Petersburg, FL. Currently, the overall median rent in the city stands at $1,437, roughly the same as last month. Prices remain down 1.4% year-over-year. Read on to learn more about what’s been happening in the St. Petersburg rental market and how it compares to trends throughout the broader Tampa metro area and the nation as a whole.

St. Petersburg rents are flat month-over-month and down 1.4% year-over-year

The median rent in St. Petersburg rose by 0.1% over the course of March, and has now decreased by a total of 1.4% over the past 12 months. St. Petersburg’s rent growth over the past year has has outpaced the state average (-2.8%) and is similar to the national average (-0.8%).

St. Petersburg rent growth in 2024 pacing similar last year

Three months into the year, rents in St. Petersburg have risen 1.2%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to March 2023 rents had increased 0.9%.

March rent growth in St. Petersburg ranked #77 among large U.S. cities

St. Petersburg rents went up 0.1% in the past month, compared to the national rate of 0.6%. Among the nation's 100 largest cities, this ranks #77. Similar monthly rent growth took place in Garland, TX (0.1%) and Chula Vista, CA (0.1%).

St. Petersburg is the #48 most expensive large city in the U.S., with a median rent of $1,437

Citywide, the median rent currently stands at $1,236 for a 1-bedroom apartment and $1,557 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,437. That ranks #48 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,220 for a 1-bedroom, $1,374 for a 2-bedroom, and $1,388 overall. The median rent in St. Petersburg is 3.6% higher than the national, and is similar to the prices you would find in Irving, TX ($1,438) and Charlotte, NC ($1,436).

St. Petersburg rents are 5.6% lower than the metro-wide median

If we expand our view to the wider Tampa metro area, the median rent is $1,523 meaning that the median price in St. Petersburg ($1,437) is 5.6% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at -1.7%, below the rate of rent growth within just the city.

The table below shows the latest rent stats for 7 cities in the Tampa metro area that are included in our database. Among them, Wesley Chapel is currently the most expensive, with a median rent of $1,927. Pinellas Park is the metro’s most affordable city, with a median rent of $1,423. The metro's fastest annual rent growth is occurring in Brandon (0.7%) while the slowest is in Pinellas Park (-8.2%).

You can also use the map below to explore the latest rent trends in the Tampa metropolitan area.