Tampas Problem of Housing and Rising Cost of Rent

Urban areas are mainly characterized by a high population that requires adequate housing facilities. In Tampa city, there has been an increased influx of people from different regions owing to the desirable opportunities available in the urban area. Although Tampa city is peaceful and has fantastic beauty, it should create more affordable homes because the population is rapidly growing, causing house shortages as the rent prices keep rising. Measures should be established to control rent rates and solve the housing problems that currently are major problems affecting these communities.

There have been rising rent costs which have been affecting negatively many in Tampa city. Renters in the Tampa-St. Petersburg metropolitan areas are grappling with skyrocketing housing expenses. Current housing surveys have shown comparable surges around the nation, with Miami and Tampa, as well as Phoenix and Scottsdale, Arizona; Las Vegas; San Diego; and the New York City region, frequently topping the list. It is estimated that rent has increased by over 28 percent during the last year (Harris & Ortiz, 2022). This exhaustive increase in the cost of renting houses has made life difficult by rising expenses for community members who have other needs to fund.

Figure 1: Rent rates in Tampa Bay, Florida, have surpassed market expectations

Tampa city has been experiencing an influx of people from other areas leading to increased demand for housing. Figure 1 shows how the rental rates have been rising from 2015 to 2020. The city is one of the countrys fastest-growing metro regions with a bustling business district, a variety of restaurants, and tourist spots. As an important and highly developing area for residential and business, many people see significant potential in working and living in Tampa city. It also has a high overall quality of life, making it a desirable place to live for many families. It is not just a burgeoning property market but also one of the citys most popular leisure hotspots. Such advantages have attracted a large number of people, leading to a concentration of population that cannot be sustained by buildings or houses already built.

Another reason for the shortage of houses in Tampa is its association with a welcoming culture and good living standards. Tampa is a rapidly rising city with a good standard of living that appeals to newcomers. Its robust economy, temperate climate, wonderful culture, and rich history attract new people. Tampas population has risen steadily since 2000, owing primarily to an inflow of foreigners (Tampa.gov, 2022). While population expansion is often associated with a communitys success, it frequently has unforeseen repercussions such as increasing traffic jams, rising house prices, and associated infrastructural pressures.

People have turned to assistance by taking advantage of the help offered to the homeless. People are having a tough time finding a place to live current housing crisis. Still, authorities from the city of Tampa and Tampa Hope Catholic Charities are striving to alter that with new homeless shelters. A new homeless shelter with 50 tents debuted in December 2021 and currently has 100 tents that will continue in existence (Araiza, 2022). People searching for stable homes provide a secure environment to reside in. Homeless people usually spend around a month and a half in tents. They have accessibility to baths, clothes, and services to help them find permanent housing during this period.

People are currently experiencing a high cost of living due to rising commodities prices, which means rent is adding to an already worse situation. Ordinary folks are experiencing the governmental forces of a rapidly evolving region as house prices in Tampa Bay continue to go up. The rising economy has topped the nation in job creation numerous times in recent years and has contributed to Tampas flood of new people. Commercial and residential building has expanded as more businesses have relocated to the region (Peace, 2022). Furthermore, they are grappling with an unsettling reality: the home is both a requirement and a market. For some, rising demand and costs are signs of wealth, as once-sleepy seaside villages grow hotspots for individuals looking to relocate to Tampa Bay (Peace, 2022). People who had previously lived humble but secure lifestyles are now facing homelessness.

There is a likelihood that government did not prioritize housing in Tampa due to a lack of a good forecast of how the population will increase in the future. The municipality should collaborate with groups like Rebuilding Together Tampa Bay, Inc. (RTTB), Habitat for Humanity, and others to acquire financing to help landowners facing contraventions due to rehab concerns. The city could look into mimicking projects in such a way in Hillsborough County, such as Program Operation Code-Vet, and working with hardware stores to have them focus on providing hands-on house repairs classes to help start educating property owners on how to save money on repairs by performing regular maintenance. Still at the epidemics end, the real estate of Tampa Bay residential region market continues to churn unrelentingly. Tampa is a hot sellers property market, which indicates that consumer demand exceeds the current supply of properties for sale, owing to the low months supply of inventory (Harris & Ortiz, 2022). In the present phase, property pricing is rising higher, making it more appealing to sellers. The Tampa property market is seeing prices rise due to a lack of supply and increased house demand.

Some measures have already been proposed but more needs to be done to ensure the housing problem is solved. The city offers two distinct initiatives that cater to various community needs. The Rental Subsidy Program provides funding to qualifying applicants to help them pay for their rent and utility deposits. Individuals emerging from homelessness can get housing assistance for up to a year under the HOME Tenant-based Rental Assistance program (Tampa.gov, 2022). Employers may assist their workforce in meeting their housing requirements by encouraging them to focus on promoting the schemes to their salaried candidates and developing effective that teach businesses about the initiatives. However, government policies make it difficult for low-income families to buy or rent a house (Peter, 2022). Children and communities who buy the property within the municipal boundaries are eligible for down-payment help from the city. The city plans to extend this initiative, which repurposes abandoned land that has been seized by the bank owing to long-standing code compliance problems.

A housing problem in Tampa is characterized by several issues such as affordability, increased population, and possible lack of prioritization by the government to ensure investors can effectively provide housing facilities within the appropriate duration. In addition to setting measures to regulate the rent costs, more housing units are needed to ensure the demands do not offset houses availability. With the great climate and opportunities available in Tampa city, the number of newcomers is expected to continue increasing. The large population and possibility of an increased influx in the future should indicate that appropriate measures must be implemented to solve the housing issues completely.