RentCafe says Tampa is one nation’s hottest apartment markets
To identify the hottest rental areas of the year, RentCafe analyzed Yardi Systems apartment data for 139 rental markets based on occupancy rates, the number of renters applying for an available unit, vacancy days, the percentage of renewed leases, and the share of new apartments.
Based on these metrics, RentCafe then calculated a Rental Competitivity Index (RCI) score, which shows how competitive the rental market was in 2023. Here’s a breakdown of the findings on Tampa’s rental market:
• Apartment hunters in Tampa had a broader range of rental options this year, as the share of new apartments grew by 3% in 2023, far surpassing the national average of 1.89%.
• Compared to the previous year, fewer renters opted to stay put, yet Tampa’s 62.9% renewal rate still outperformed the national benchmark of 60.2%. Meanwhile, the metro’s occupancy rate stood at 94%, on par with the national average.
• An average of 11 renters competed for an apartment in Tampa, which was filled as fast as 36 days. For context: on average, nine renters were waiting in line for each vacant rental in America, with apartments flying off the market after 38 days, two days slower than in Tampa.
• Tampa is the fifth most competitive market in the Sunshine State, sandwiched between Southwest Florida and Jacksonville.
To read the full 2023 year-end report, visit https://www.rentcafe.com/blog/rental-market/market-snapshots/most-competitive-rental-markets-this-year/.
Hillsborough Tax Collector’s Office wins national award
The Hillsborough County Tax Collector’s Office has received a national award for workplace excellence and employee satisfaction, according to a news release from the office.
For the second year in a row, national research firm Energage has awarded the Tax Collector’s office the 2023 National Top Workplaces Culture Excellence Award for its commitment to DE&I initiatives and exemplary leadership as a women-led organization. The award is based on employee feedback measuring 24 markers of employee satisfaction from companies nationwide. The Hillsborough County Tax Collector ranked in the top 5% in five categories: trusted leader, strong values, open-minded, innovation and company direction.
The office, led by Tax Collector Nancy C. Millan, has about 400 employees across nine offices in Hillsborough County. The office offers professional development programs and benefit incentives that prioritize the well-being and growth of employees, along with the organization’s success, the news release says.
“I’m incredibly proud of the culture of excellence we have developed within the Tax Collector’s office, where our team feels valued, represented, and empowered,” Millan says, in the release.
In January 2024, the Tax Collector’s office is launching a new Skill-Based Incentive Pay Program, which offers monthly stipends for language proficiency, certifications, and degrees — another example of Millan’s efforts to attract and retain talent to meet customer expectations for service delivery.
Trade mission focused on technology, health care
SelectFlorida, the Florida Agency for Health Care Administration (AHCA) and FloridaCommerce visited Germany, Belgium and the Netherlands as part of a trade and business development leadership mission focused on technology and health care, according to a state news release.
The mission aimed to generate export opportunities for Florida companies, to meet with leaders in the health care industry and to highlight Florida’s strengths in targeted industries, according to the release. It also promoted Florida as a leading hub for international business owners looking to expand their operations.
“Our trade mission to Germany, Belgium and the Netherlands opened new opportunities to collaborate with European industry leaders, strengthening Florida’s position on the global stage,” Deputy Secretary of Economic Development and President of SelectFlorida TJ Villamil said, in the release. “Many businesses have already recognized Florida’s thriving life science industry and this mission only solidified our future growth potential.”
“This trade mission was a critical step towards advancing health care integration and building partnerships with European companies that can help improve health care in Florida,” added AHCA Secretary Jason C. Weida, in the release. “We are confident these partnerships will create more opportunities for businesses to join our high-quality health care system and establish state-of-the-art care.”
Florida’s $1.5 trillion economy is the 14th largest in the world — bigger than those of the Netherlands or Mexico, and about the same size as Spain’s economy.
With more than 22 million residents, Florida is now the third most populous state in the nation, with one of the fastest-growing economies. This vast, dynamic market offers tremendous business opportunities for European companies, the release notes.
Some of the highlights of the trade mission include:
- Participating in MEDICA, the world’s largest medical trade fair, where a total of 5,233 companies exhibited for more than 81,000 health care professionals. Twenty-four Florida companies exhibited in the Florida Pavilion generating an estimated $103 million in total export sales.
- Florida delegates met with representatives from Plug & Play Stuttgart located at Startup Autobahn for an insightful exchange centered on technology and innovation, including the recent announcement of the Plug & Play NeoCity location in Florida, scheduled for launch in January 2024.
- In Munich, SelectFlorida hosted a Florida activation event in partnership with the U.S. Commercial Service to promote Florida as a Foreign Direct Investment destination to more than 30 multi-industry leaders and multiplier organizations. Delegates also met with leadership from Klinikum Rechts De Isar, the leading university hospital in Munich, to explore potential collaborations between hospitals, universities and the health care industry in Munich and Florida.
- In Belgium, delegates toured Leuven and met with leadership from Health House — a center of expertise in the future of health care. Delegates discussed the growing impact of technology on the future of health care, exploring the integration of new practices and technologies. The delegation also met with leadership from the Interuniversity Microelectronics Centre (IMEC), an innovation hub and leader in nano-electronics and digital technologies with its sole U.S. location in Florida. Representatives discussed Florida’s semiconductor industry and IMEC’s presence in the state following Gov. Ron DeSantis’ announcement awarding more than $28 million to expand Florida’s semiconductor and chip manufacturing industries.
- In Brussels, the delegation toured BeCentral, a tech hub backed by more than 60 investors that hosts digital schools, startups and nongovernmental organizations in an entrepreneurial ecosystem. Delegates also met with AGORIA — the largest federation in Belgium focused on technology companies from the manufacturing industry and digital and telecom sectors. AGORIA’s plans included a visit to Florida this month with several Belgian companies interested in better understanding how Florida is surpassing California as the new tech hub of the Americas.
- In the Netherlands, SelectFlorida collaborated with the European-American Chamber of Commerce in Amsterdam to host an event promoting Florida to more than 50 foreign direct investment prospects and multiplier organizations. SelectFlorida also hosted a protocol roundtable with local dignitaries to discuss strengthening the commercial ties between Florida and the Netherlands. Florida leadership delegates attended the METSTRADE Show — the largest trade show of marine equipment, materials and systems in the world. More than 40 Florida companies exhibited, generating an estimated $60 million in export sales reports. Delegates also met with several Dutch maritime companies to reinforce Florida’s maritime opportunities.
