Tampabay / September 5, 2025
Tampa Bay Market Report | Q2 2025
Highlights:
Tampa Bay’s unemployment rate reached 3.8% in Q2, reflecting a 30-basispoint (bp) increase year-over-year (YOY). Despite this uptick, the region
outperformed the national average unemployment rate of 4.2%, underscoring
the relative strength of the local labor market. Over the past 12 months,
nonfarm employment grew by 14,000 positions, a 0.9% YOY increase.
- 6.7 % Vacancy Rate
- 1,962,763 SF Under Construction
- 448,000 Net Absorption YTD
- $10.33 PSF Average Asking Rent
Have questions about the report or looking for more information about TBIA’s available listings in the Tampa Bay area? Please reach out to the team!
John Jackson, SIOR, CCIM. | Managing Director
813 424 3202 | John.Jackson@cushwake.com
JT Faircloth, SIOR | Director
813 833 3242 | Jt.Faircloth@cushwake.com
Casey Perry | Senior Associate
813 233 6464 | Casey.G.Perry@cushwake.com
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