Is rent expensive in St Petersburg? When it comes to living expenses, one of the most significant costs that people incur is rent. For those considering moving to St Petersburg, Florida, one of the questions they might have is whether rent is expensive. In this blog, we will explore the factors that influence the cost of rent in St. Petersburg and provide some insights into the current state of the rental market.
St. Petersburg, Florida, is a city located on the west coast of Florida. It is known for its beautiful beaches, excellent dining, and lively cultural scene. The city has a population of around 270,000 people and has been experiencing steady growth in recent years.
When it comes to the cost of rent in St Petersburg, several factors can influence the price. These factors include the location, type of property, size, and age of the building, among others. Let’s take a closer look at each of these factors to understand how they affect the cost of rent.
Is rent expensive in St Petersburg? Location
Location is perhaps the most crucial factor that influences the cost of rent in St Petersburg. The city has several neighborhoods, each with its unique features and characteristics. Some of the most popular neighborhoods for renters include Downtown St. Petersburg, Kenwood, Old Northeast, and Old Southeast. These neighborhoods offer easy access to the city’s amenities, including shopping, dining, and entertainment options.
Rent prices in Downtown St. Petersburg are generally higher than in other parts of the city due to its central location and proximity to the waterfront. According to data from Zillow, the median rent price in Downtown St Petersburg is around $2,200 per month, making it one of the most expensive neighborhoods in the city. On the other hand, neighborhoods such as Old Southeast and Kenwood have median rent prices of around $1,500 to $1,800 per month, making them more affordable options.
Is rent expensive in St Petersburg? Type of Property
The type of property you are renting can also have a significant impact on the cost of rent. St. Petersburg has a wide range of rental properties, including apartments, condos, townhouses, and single-family homes. Generally, apartments and condos tend to be more affordable than townhouses and single-family homes.
According to Zillow, the median rent price for a one-bedroom apartment in St. Petersburg is around $1,200 per month. Two-bedroom apartments are slightly more expensive, with a median rent price of around $1,500 per month. On the other hand, the median rent price for a single-family home in St. Petersburg is around $2,000 per month.
Is rent expensive in St Petersburg? Size of the Property
The size of the property is another factor that can impact the cost of rent. Generally, larger properties tend to be more expensive than smaller ones. For example, a three-bedroom apartment in St. Petersburg will cost more than a one-bedroom apartment in the same neighborhood.
According to Zillow, the median rent price for a three-bedroom apartment in St Petersburg is around $2,200 per month, while the median rent price for a one-bedroom apartment is around $1,200 per month.
Is rent expensive in St Petersburg? Age of the Building
The age of the building can also affect the cost of rent in St. Petersburg. Older buildings may have more maintenance issues, which can lead to higher costs for landlords. As a result, newer buildings tend to be more expensive than older ones.
According to RentCafe, the average rent for a new apartment in St. Petersburg is around $1,800 per month, while the average rent for an older apartment is around $1,500 per month. However, it’s worth noting that newer buildings may also offer more amenities, such as a pool, fitness center, or concierge services, which can justify the higher cost of rent.
Is rent expensive in St Petersburg? Current State of the Rental Market in St. Petersburg
Now that we have explored the factors that influence the cost of rent in St Petersburg, let’s take a look at the current state of the rental market in the city.
According to a report by Zumper, which tracks rental prices across the US, the median rent for a one-bedroom apartment in St. Petersburg is around $1,400 per month, while the median rent for a two-bedroom apartment is around $1,750 per month. These prices are slightly lower than the national median rent for one-bedroom and two-bedroom apartments, which are $1,630 and $1,980, respectively.
The report also noted that the rental market in St. Petersburg has been relatively stable over the past year, with rent prices remaining relatively flat. This stability can be attributed to the city’s growing population, which has led to increased demand for rental properties.
However, it’s worth noting that the rental market in St Petersburg can vary depending on the neighborhood and type of property. As we discussed earlier, neighborhoods such as Downtown St Petersburg tend to have higher rent prices than other parts of the city. Contact a Realtor in St Petersburg to help you navigate the competitive rental market.
Is rent expensive in St Petersburg? Tips for Finding Affordable Rent in St. Petersburg
If you are planning to move to St. Petersburg and are concerned about the cost of rent, there are several tips that can help you find affordable rental properties in the city.
- Look for properties in less expensive neighborhoods: As we discussed earlier, neighborhoods such as Old Southeast and Kenwood tend to have more affordable rent prices than Downtown St. Petersburg.
- Consider sharing a rental property with roommates: Sharing a rental property with roommates can help you save on rent costs. For example, renting a three-bedroom apartment with two roommates can be more affordable than renting a one-bedroom apartment on your own.
- Use online rental platforms to compare prices: Websites such as Zillow, Apartments.com, and RentCafe can help you compare rent prices across different neighborhoods and property types in St. Petersburg.
- Negotiate with landlords: If you find a rental property that you like but the rent price is too high, consider negotiating with the landlord. They may be willing to lower the rent price if you sign a longer lease or agree to pay several months of rent in advance.
Is rent expensive in St Petersburg? Factors
The cost of rent in St Petersburg can vary depending on several factors, including location, type of property, size, and age of the building. Generally, apartments and condos tend to be more affordable than townhouses and single-family homes, and neighborhoods such as Downtown St. Petersburg tend to have higher rent prices than other parts of the city.
However, the rental market in St. Petersburg has been relatively stable over the past year, with rent prices remaining flat. If you are planning to move to St. Petersburg and are concerned about the cost of rent, there are several tips that can help you find affordable rental properties in the city.
Overall, while rent prices in St Petersburg may not be as affordable as some other cities in the US, the city offers a high quality of life and plenty of amenities that make it an attractive place to live.
Is rent expensive in St Petersburg? Rank
March Rent Growth in St Petersburg Ranked #45 Among Large U.S. Cities
According to recent data from Apartment List, rent prices in St. Petersburg increased by 0.5% in March, which is on par with the national average for rent growth in the same period. Among the 100 largest cities in the United States, St. Petersburg ranked #45 for monthly rent growth.
The report also revealed that the median rent for a one-bedroom apartment in St. Petersburg is currently $1,339, while the median rent for a two-bedroom apartment is $1,704. When taking into account all bedroom sizes, the median rent in St. Petersburg is $1,609, which ranks #34 among the 100 largest cities in the country.
It’s important to note that these numbers are just a snapshot of the rental market in St. Petersburg, and that rent prices can vary significantly depending on the specific neighborhood and type of property. However, this data does give us some insight into the current state of the rental market in the city.
St. Petersburg Rents Compared to Other Cities in the Tampa Metro Area
When compared to other cities in the Tampa metro area, St. Petersburg’s median rent of $1,609 is actually 3.4% lower than the metro-wide median rent of $1,665. Among the 10 cities in the Tampa metro area that are included in the Apartment List database, St. Petersburg falls somewhere in the middle in terms of rent prices.
The table below shows the latest rent stats for the 10 cities in the Tampa metro area:
| City | Median 1BR Rent | Median 2BR Rent | YoY Rent Growth |
| Wesley Chapel | $2,085 | $2,319 | -3.5% |
| Tampa | $1,468 | $1,838 | 3.3% |
| Clearwater | $1,393 | $1,808 | 4.4% |
| St. Petersburg | $1,339 | $1,704 | 1.4% |
| Largo | $1,284 | $1,610 | 4.2% |
| Brandon | $1,282 | $1,551 | 1.1% |
| Riverview | $1,272 | $1,515 | 5.6% |
| Palm Harbor | $1,230 | $1,526 | 3.3% |
| Pinellas Park | $1,149 | $1,491 | 7.0% |
| New Port Richey | $944 | $1,196 | 7.2% |
As you can see, St. Petersburg falls right in the middle of the pack in terms of median rent prices. While it may not be the most expensive city in the Tampa metro area, it’s also not the most affordable.
Is rent expensive in St Petersburg? Get Professional Help
So, is rent expensive in St. Petersburg? The answer to that question ultimately depends on a variety of factors, including the specific neighborhood, type of property, and size of the apartment or house you’re looking for.
While rent prices in St. Petersburg may be higher than the national average, they’re actually lower than the metro-wide median rent for the Tampa area. And when compared to other large cities in the United States, St. Petersburg’s rent prices fall somewhere in the middle of the pack.
If you’re planning to move to St. Petersburg and are concerned about the cost of rent, contact a Realtor that has good reviews online like Avalon Group – LPT Realty. This Realtor St Petersburg Team is the top rated in the area.
Another factor that affects the cost of rent in St. Petersburg is the type of apartment you are looking for. For example, newer buildings with more amenities such as fitness centers and swimming pools tend to have higher rents than older buildings with fewer amenities. Additionally, apartments in more desirable areas, such as downtown or near the waterfront, can also be more expensive.
Is rent expensive in St Petersburg? Conclusion
It is worth noting that while St. Petersburg may have a higher cost of rent compared to some other cities in Florida, it is still much more affordable than many other large cities across the United States. For example, according to data from RentCafe, as of March 2023, the median rent in New York City is $3,499, in San Francisco it is $3,875, and in Los Angeles it is $2,663. Compared to these cities, St. Petersburg’s median rent of $1,609 is significantly more affordable.
In conclusion, while the cost of rent in St. Petersburg may be higher than in some other cities in Florida, it is still relatively affordable compared to many other large cities across the United States. The cost of rent can vary based on factors such as location, apartment size, and amenities, but overall, St. Petersburg remains a desirable and affordable place to live for many renters.
