On behalf of the USF Muma College of Business, we are proud to present the 2025 Tampa Bay E-Insights Report that unveils new research tracking the state of our economy, with a special focus on affordability and talent, in the Tampa Bay region.
This companion piece to the Tampa Bay Partnership’s Regional Competitiveness Report examines how our region compares to top markets across many dimensions, revealing insights policymakers can apply to decisions that will make our community the best place in the nation to work and live.
This timely analysis considers our region’s attractiveness in terms of job opportunities and living conditions in this post-pandemic era. Our scholars investigated real-time big data to compare Tampa Bay’s performance to 19 other metropolitan statistical areas in the three economic domains.
What Gets Measured is What Gets Done
Since 2017, the University of South Florida has worked with the Tampa Bay Partnership on this important research. This collaboration provides a powerful example of our commitment to leveraging analytics and critical thinking to generate impactful, innovative solutions for our community. Together, we can transform our region’s future by identifying economic challenges and partnering with civic leaders like you to elevate opportunities for Tampa Bay. Graduate students worked alongside our faculty on this inquiry, gathering and analyzing data to prepare this report, experiencing the unique opportunity to generate insights that will create a brighter future for our community.
To improve our economic health, we must know where we stand relative to similar and aspirant communities. However, we should not stop there. We want to apply science to support the decisions of community leaders to make Tampa Bay an attractive destination for both businesses and those who live and work here. Understanding that what gets measured is what gets managed, we can then use the data to follow our progress and make relevant recommendations for maximum impact.
Real-Time Signals, Real-Time Findings
This research stands out for deriving insights from not only traditional sources, but also real-time data across several dimensions from sources that include Google Trends, Indeed, Zillow and Adzuna to gain a holistic perspective. This approach assesses the economic health of the Tampa Bay region as it relates to affordable housing, education, health care, job postings and salaries. The historical trend analysis enables us to identify policy initiatives that could boost economic growth of the Tampa Bay region.
The analysis reveals how the economic health of the Tampa Bay region has advanced, along with areas of opportunity. Progress has been made to increase household income and reduce poverty and unemployment across the community, however these indicators have struggled to keep pace with rising living costs when compared with other regions. There are bright spots as well, including low higher education tuition rates and strong health care sector employment.
Our research team has conducted policy experiments to identify areas of focus that can help our region to continue to thrive, which will be posted online at usf.to/state-of-the-region. We hope the insights in this report will provide policymakers and business leaders with the knowledge to overcome these growing pains as the world discovers the allure of living and working in Tampa Bay.
David Blackwell
Lynn Pippenger Dean USF Muma College of Business
Shivendu Shivendu
Associate Professor USF Muma College of Business
Manish Agrawal Professor USF Muma College of Business
USF Muma College of Business
David Blackwell Lynn Pippenger Dean muma-deansoffice@usf.edu
E-Insights Report Faculty Researchers
Shivendu Shivendu Associate Professor shivendu@usf.edu
Manish Agrawal Professor magrawal@usf.edu
Master’s in Business Analytics and Information Systems Graduate Assistants
Satya Adda sadda@usf.edu
Suraj Shiva Kumar suraj36@usf.edu
Nikita Gill gill258@usf.edu
Nidhi Harishchandra Falak nfalak@usf.edu
Alvaro Montoya Ruiz montoyaruiz@usf.edu
Raajitha Sai Bondada raajithasaib@usf.edu
Priyanka Jammu priyanka225@usf.edu
About the USF Muma College of Business
The University of South Florida Muma College of Business leverages analytics, critical thinking, and creativity to empower its scholars and graduates to achieve their professional dreams as they lead in business and transform the future of business in our region.
Accredited by the Association to Advance Collegiate Schools of Business (AACSB International), the Muma College of Business works to drive student success, produce scholarship with impact, and generate innovation in partnership with our community.
The college comprises programs on all three USF campuses across Tampa Bay and six schools.
The Muma College of Business offers a variety of nationally ranked master’s and doctoral degree programs designed to meet the needs of working professionals as they elevate their careers. USF’s master’s degree in entrepreneurship and executive MBA programs both rank among the top 10 of their kind in the nation.
USF business students enjoy dedicated programs for student success, talent development and studying abroad, as well as corporate mentoring for first-generation students. USF launched the first Business Honors Program in the state, and in the past three years, every business honors student has found full-time employment or enrolled in graduate school after graduation. The college awards over $1 million in business student scholarships annually.
Visit usf.to/state-of-the-region for additional information and the online copy of the report.
2025 Tampa Bay E-Insights Report
The Tampa Bay E-Insights report is the result of a challenging research inquiry by faculty and graduate students from the University of South Florida Muma College of Business. The goal of this initiative was to benchmark Tampa Bay across multiple economic indicators relative to 19 similar Metropolitan Statistical Areas (MSAs) and to provide policy recommendations to move the proverbial needle when it comes to Tampa Bay’s ranking on important economic indicators. These MSAs were selected based on factors such as demographics, size of the economy, and presence of regional assets such as ports and research universities. The selected MSAs reflect both peer and aspirational relationships with the Tampa Bay region.
In this report, Tampa Bay is defined as the region consisting of eight counties: Citrus, Hernando, Hillsborough, Manatee, Pasco, Pinellas, Polk and Sarasota. The eight-county area includes four MSAs: Tampa-St. Petersburg-Clearwater MSA, Homosassa Springs MSA, Lakeland-Winter Haven MSA, and North Port-SarasotaBradenton MSA. The data presented in the report for Tampa Bay is aggregated for the four MSAs. Other MSAs studied in the report are shown on the map below.
This year’s report analyzes the performance of the Tampa Bay region in three crucial areas of economy: economic outcomes, affordability, and talent pipeline.
About this Report
The Tampa Bay E-Insights report examines the economic performance of the Tampa Bay region relative to 19 other comparable Metropolitan Statistical Areas (MSAs). Since 2017, USF researchers have released five E-Insights reports. The first was a study of economic competitiveness of the Tampa Bay region. Later inquiries expanded the analysis to include economic growth, the impact of COVID-19 on the economy and racial differences. Researchers evaluated the impact of the pandemic on each of these areas — housing affordability, education, health care, talent availability and their salaries. Last year’s E-Insights report examined the state of work and state of life in the Tampa Bay region relative to 19 comparable MSAs.
This year, the E-Insights report focuses on the performance of the Tampa Bay region in three key areas: economic outcomes, affordability and talent pipeline. The report presents a benchmarking analysis of these topics from different dimensions such as housing affordability, education affordability, affordable health care, talent availability, job opportunities, and salaries, to present insights on the performance of Tampa Bay with respect to 19 other MSAs. It also presents an analysis comparing Tampa Bay with the MSAs in the comparison group on indicators related to
the quality of life, such as personal income per capita, household debt-to-income ratio, Black-white unemployment rate differences, and others.
The data primarily comes from traditional sources such as the U.S. Census Bureau, the U.S. Bureau of Labor Statistics, the U.S. Bureau of Economic Analysis, and the National Center for Education Statistics. Additionally, the report also uses data from real-time sources such as Google Trends, Indeed, Adzuna, and Zillow to analyze recent trends.
These sources provide data at the MSA level. For the 19 MSAs, researchers pulled data directly from the sources. However, for the Raleigh-Durham MSA, which consists of two MSAs (Raleigh MSA and Durham-Chapel Hill MSA) and the Tampa Bay region, which consists of four MSAs (Tampa-St Petersburg-Clearwater MSA, Northport-SarasotaBradenton MSA, Homosassa Springs MSA, and Lakeland-Winter Haven MSA), scholars aggregated the data from the MSA level to the regional level by taking weighted averages using population as the weight. For each economic indicator, the definition and the data sources are described at the top of the page of that indicator.
EXECUTIVE SUMMARY
This report presents analyses in three sections: economic outcomes, affordability and the talent pipeline. In each of the three sections, insights are provided for each indicator along the performance of the Tampa Bay region and the best- and worstperforming metro regions.
This report also presents key insights from the trend analysis by the USF research team. The goal is to benchmark the Tampa Bay region with respect to other MSAs and provide meaningful insights for policy recommendations. The researchers used both traditional economic variables and real-time data signals to derive the insights.
Economic Outcomes
Tampa Bay shows steady improvements in key indicators such as personal income growth and poverty reduction, reflecting positive economic momentum though the region’s competitive position has not significantly improved.
Moreover, the region struggles with persistently high household debt and a declining rank in cost-ofliving affordability, signaling challenges in financial stability and competitiveness.
While Tampa Bay remains a desirable location due to strong population growth, its overall economic competitiveness continues to lag peer MSAs, indicating the need for strategic efforts to strengthen its economic competitiveness as a region.
On balanced growth and racial economic indicators, Tampa Bay’s performance presents a mixed picture. The region has made significant strides in reducing disparities in unemployment and poverty rates, as well as maintaining a low educational attainment gap. Persistent challenges remain in areas such as labor force participation and increasing income inequality.
Affordability
Tampa Bay has consistently improved its competitive position across multiple affordability indicators, cementing its recovery post-pandemic. This upward trend is particularly evident in areas like housing, consumer prices and education.
However, there are areas where Tampa Bay faces rising affordability pressures. The housing market has seen a gradual increase in costs, with Tampa Bay ranking between ninth and 11th place over the years. Housing costs have grown from 2008 to 2022, in comparison to other regions.
The cost of living in Tampa Bay, especially concerning utilities and gas prices, has fluctuated over the years, but utility costs remain relatively stable in comparison to other MSAs. Lower education costs have remained a highlight, with Tampa Bay improving its affordability ranks for both undergraduate and graduate education.
Tampa Bay has also demonstrated moderate improvements in public services affordability, particularly in public transportation usage, though health care expenses have steadily increased.
Talent Pipeline
Since 2020, Tampa Bay has remained stable in the middle tier across multiple talent pipeline indicators.
Tampa Bay ranks well for international migration, but lags behind other Florida markets in Miami and Orlando. The future success of Tampa Bay’s economy is intrinsically tied to the strength and stability of its talent pipeline. This report found improvements in first-time in college enrollment and stable interest in online job searches for the region, as well as steady growth in international migration.
Section 1: Economic Outcomes
Tampa Bay shows steady improvements in key indicators such as personal income growth and poverty reduction, reflecting some positive economic momentum though that has not significantly improved its competitive position. Moreover, the region struggles with persistently high household debt and a declining rank in cost-of-living affordability, signaling challenges in financial stability and competitiveness.
While Tampa Bay remains a desirable location due to strong population growth, its overall economic competitiveness continues to lag against peer MSAs, indicating the need for strategic efforts to strengthen its economic competitiveness as a region.
Tampa Bay’s performance on balanced growth and indicators for racial disparities presents a mixed picture. While the region has made significant strides in reducing disparities in unemployment, education and poverty rates between the races, persistent challenges remain in areas such as labor force participation and increasing income inequality.
Section 1.1: Economic Competitiveness
In this section, the USF research team analyzed the performance of the Tampa Bay region’s economy, looking at indicators that broadly measure the economic growth and prosperity of a region. The specific indicators used included per capita personal income, household debtto-income ratio, Consumer Price Index (all items), poverty rate based on Social Security Income, marginal regional price parities (all items), and population growth.
Please refer to the Tampa Bay Partnership’s 2025 Regional Competitiveness Report for insights on common economic indicators such as gross regional product, poverty rate, unemployment rate, labor force participation rate, and education attainment rate. This section explores indicators not covered in the Regional Competitiveness Report, and complements that report.
Key Insights Economic Competitiveness
• Per Capita Personal Income: MSAs like Seattle and Denver have the highest per capita personal incomes. While per capita personal income has been steadily increasing for the Tampa Bay region, it remains ranked 18th among the 20 comparison MSAs.
• Household Debt Ratio: Tampa Bay faces persistent challenges in household debt management, consistently ranking last among all MSAs, indicating a higher debt burden on households.
• Consumer Price Index: Across all MSAs, there was a significant surge in the Consumer Price Index starting in 2021 and peaking a year later due to strong inflationary trends across all geographies.
• Poverty Rate based on Social Security Income: The good news is that the poverty rate based on Social Security Income in Tampa Bay has shown a steady decline from 11.8% in 2012 to 8.2% in 2023. It remains comparably low against other MSAs, with Tampa Bay ranking 15th in 2023.
• Cost of Living index: Tampa Bay’s overall cost of living index has remained relatively stable, ranging from 101.98 in 2008 to 99.31 in 2022. Its rank improved in the mid-2010s (as high as third in 2016) but declined to 10th in 2022, suggesting a gradual increase in overall living expenses compared to other MSAs.
• Population Growth: Tampa Bay demonstrates positive strides in population growth and poverty reduction, highlighting its potential as a desirable place to live and work. However, challenges in personal income competitiveness, household debt, and cost of living suggest that a concerted effort is needed to improve economic stability and enhance the region’s competitive standing among peer MSAs.
and Denver have
Per Capita Personal Income
Per Capita Personal Income
standard of living they may also face affordability challenges and income inequality In contrast Orlando and Tampa Bay show lower personal incomes indicating slower economic growth and fewer high-paying job opportunities To improve,
to
income -Tampa Bay, in particular, has experienced slow and steady growth in
• Areas like Seattle and Denver consistently report the highest personal incomes. Conversely, Orlando and Tampa Bay have relatively lower personal incomes.
income over
Despite
Tampa economic ranking has remained on the lower seatings compared to other areas Tampa Bay reached its peak rank of 17th in personal income per capita in 2017 However, it has maintained a consistent 18th-place rank from 2019 through 2023, stable but less dynamic position in the broader economic landscape
Per Capita Personal Income
-Seattle and Denver have high per capita personal incomes, reflecting strong economic growth and high-paying job opportunities While these MSA's offer a higher standard of living, they may also face affordability challenges and income inequality In contrast, Orlando and Tampa Bay show lower personal incomes, indicating slower economic growth and fewer high-paying job opportunities To improve, these areas need investments in education, infrastructure, and industry diversification to boost income -Tampa Bay, in particular, has experienced slow and steady growth in personal income over the past decade Despite this gradual increase, Tampa economic ranking has remained on the lower seatings compared to other areas Tampa Bay reached its peak rank of 17th in personal income per capita in 2017 However, it has maintained a consistent 18th-place rank from 2019 through 2023, stable but less dynamic position in the broader economic landscape
• Tampa Bay’s personal income has shown slow growth over the past decade. Moreover, its competitive position remains low. Tampa Bay peaked at 17th place in 2017 while maintaining a 18th rank for 2019-2023.
Per Capita Personal Income
Per Capita Personal Income
received by persons from all sources. Calculated as the sum of wages and salaries, supplements to wages and salaries, in
Household Debt-ToIncome Ratio
• Since 2019, Tampa Bay has consistently ranked last among all MSAs for the worst performance in managing household debt. The debt ratio slightly increased from 1.5 in 2000 to 2.3 in 2024, indicating persistent challenges. The rank has remained at the bottom, indicating continued burden for household debt.
• In 2024, Houston emerged as the best-performing MSA for household debt ratio, reflecting strong financial management and lower debt burdens for households. Conversely, San Diego, with a debt ratio of 1.925, ranked 19th, indicating that it struggled with higher household debt levels, possibly due to cost-of-living challenges or economic pressures.
Household Debt-To-Income Ratio
Overall Consumer Price Index
-Across various Metropolitan Statistical Areas (MSAs), there is a significant surge in the Consumer Price Index (CPI) starting around 2021, peaking in 2022, indicating potential inflationary trends
Consumer Price Index
- Tampa Bay achieved its peak CPI change in 2022 at 10 4% and ranking consistently in the top 3 between 2020 and 2023 However, its rank declined to 9th in 2024, indicating compa ratively high inflation in recent years About: 12-month percentage change of Consumer Price Index (CPI) for MSA's CPI tracks variation in prices paid by typical consumers for retail goods and other items on Yearly Basis
Source: U S Bureau of Labor Statistics
• Across various Metropolitan Statistical Areas (MSAs), there is a significant surge in the Consumer Price Index (CPI) starting around 2021, peaking in 2022, indicating potential inflationary trends.
• Tampa Bay achieved its peak CPI change in 2022 at 10.4% and ranking consistently in the top three between 2020 and 2023. However, its rank declined to ninth in 2024, easing the inflation in recent years.
Shows 12-month percentage change of Consumer Price Index for MSAs. CPI tracks variation in prices paid by typical consumers for retail goods and other items on yearly basis. Source: U.S. Bureau of Labor Statistics. Due to unavailability of data, only 12 MSAs were analyzed.
Poverty Rate Based on Social Security Income
Poverty Rate Based on Social Security Income
on governmental assistance Conversely, Houston, with a
rate of 11 0% in 2023 , faced the highest level of economic vulnerability among SSI-receiving families
• The poverty rate based on Social Security Income in Tampa Bay has shown a steady decline from 11.8% in 2012 to 8.2% in 2023. Despite this improvement, its ranking has fluctuated, stabilizing at 15th in 2023. This indicates a gradual reduction in economic vulnerability among families relying on SSI, though the region remains mid-ranked among MSAs.
• In 2023 Minneapolis had the lowest poverty rate at 4.8%, reflecting a significantly lower economic dependency on governmental assistance. Houston, with a poverty rate of 11.0%, faced the highest level of economic vulnerability among SSI-receiving families.
Trend Over Time
The indicator measures the percentage of families living below the poverty line, categorized by family type and whether the family receives Social Security Income, Supplemental Security Income, or cash public assistance. This data provides insight into economic vulnerabilities and dependency on governmental financial assistance among different family groups. Source: U.S. Census Bureau, Table B17015, American Community Survey.
Marginal Regional Price Parities (Cost of Living Index)
compared to
MSAs - San Antonio achieved the lowest overall cost of living with a value of 95 11, showcasing a balanced affordability across essential expenses In contrast, San Diego faced the highest living costs at 114 51, reflecting affordability challenges across multiple expense categories
Marginal Regional Price Parities
Cost of Living Index
• Tampa Bay’s overall cost of living index has remained relatively stable, ranging from 101.98 in 2008 to 99.31 in 2022. Its rank improved in the mid-2010s (as high as third in 2016) but declined to 10th in 2022, suggesting a gradual increase in overall living expenses compared to other MSAs.
• San Antonio achieved the lowest overall cost of living with a value of 95.11, showcasing a balanced affordability across essential expenses. In contrast, San Diego faced the highest living costs at 114.51, reflecting affordability challenges across multiple expense categories.
Measures the relative to national level cost of living in a specific area, considering various essential expenses such as housing, goods, utilities, etc. The index provides a comparison of living costs across different locations. Source: U.S. Bureau of Economic Analysis, “MARPP Regional price parities by MSA: All Items.”
- Tampa Bay's population has steadily grown reaching
Houston, with a growth
• Tampa Bay’s population has steadily grown, reaching 5,238,097 in 2023, with a growth rate of 2.03% and ranking fourth among MSAs. This growth reflects a strong and appealing environment for residents, supported by economic and lifestyle factors.
• Houston, with a growth rate of 2.32%, ranked first, showcasing robust expansion likely driven by job opportunities and economic development. Baltimore, with a negative growth rate of -0.68%, ranked the lowest, highlighting population decline challenges.
Population Growth
Population growth is calculated based on the year-over-year change in population, reflecting how populations expand or decline over time. This data highlights demographic trends and urbanization, offering insights for regional planning and resource allocation.
Source: U.S.
Section 1.2: Balanced Growth and Racial Differences
Another important aspect of economic outcomes is how the economic growth is distributed across different sections of society. To this end, the USF research team analyzed the performance of the Tampa Bay region with respect to 19 other comparison MSAs along the indicator of income inequality with the help of the Gini index. The USF research team considered the variables related to racial indicators, including differences in the Black-white unemployment rate, Black-white poverty rate, Black-white labor force participation rate, Black-white educational attainment rate and Black-white use of public and private transportation for commuting to work. The goal of the analysis is to understand how the Tampa Bay MSA is performing in terms of bridging the gap between different social strata and racial groups.
Key Insights Balanced Growth and Racial Differences
• Worsening Income Inequality: Tampa Bay’s Gini index has gradually increased over the past decade, resulting in a declining ranking from 12th in 2013 to 19th in 2023.
• Reduced Gap in Black-White Unemployment: The region’s unemployment rate gap has steadily decreased from 7.3 in 2012 to 2.0 in 2023, reflecting a significant improvement in employment equality between Black and white populations. Its ranking also improved from ninth in 2012 to fourth in 2023.
• Notable Progress in Poverty Gap: The Black-white poverty rate gap in Tampa Bay has narrowed significantly from 17.4 in 2012 to 7.6 in 2023. Its ranking improved from 16th in 2012 to fifth in 2023, demonstrating notable progress in reducing economic disparities between Black and white populations.
• Black-White Labor Force Participation Rate Gap: Tampa Bay has a significant Black-white labor participation rate gap, which has been steadily increasing since 2013. Tampa Bay currently ranks last, reflecting one of the highest disparities in labor force participation rates among comparison MSAs.
• Black-White Educational Attainment Rate Gap: Tampa Bay shows a low educational attainment rate gap over time, with a stable trend. Tampa Bay’s rank has also steadily improved and has been among the top 10 MSAs.
• Black-White Digital Access Gap: Tampa Bay has a moderate digital access gap that has remained relatively stable over the years and has consistently ranked around the 13th position.
• Mixed Transportation Outlook: Tampa Bay consistently exhibits one of the lowest racial gaps in public transportation usage, positioning it among the better-performing MSAs. There is a bigger difference in personal car access between races, showing stable improvements with Tampa Bay ranking 13th across MSAs.
- Tampa Bay's Gini index has shown a gradual increase over the years, rising from 0.470 in 2012 to 0.488 in 2023. Its ranking has declined from 12th in 2013 to 19th in 2023, reflecting worsening income inequality. This trend suggests growing disparities in income distribution within the region. - In 2023, Minneapolis achieved the lowest Gini index of 0.4474, indicating the most equitable income distribution among the MSAs. Conversely, Miami recorded the highest Gini index, highlighting significant income inequality and an uneven distribution of wealth.
Income Inequality
About: Income inequality measured by gini index, ranges from 0 to 1, refers to the extent income is disributed in an uneven manner among the population. Gini index of 0 implies perfect income equality, i.e., every individual receives equal share. Gini index of value 1 indicates perfect income inequality, impling that only one individual receives all the income.
Source: U.S. Census Bureau, American Community Survey.
Year 2019 2021 2023
• Tampa Bay’s Gini index has shown a gradual increase over the years, rising from 0.470 in 2012 to 0.488 in 2023. Its ranking has declined from 12th in 2013 to 19th in 2023, reflecting worsening income inequality. This trend suggests growing disparities in income distribution within the region.
• In 2023, Minneapolis achieved the lowest Gini index of 0.4474, indicating the most equitable income distribution among the MSAs. Conversely, Miami recorded the highest Gini index, highlighting significant income inequality.
Income inequality measured by Gini index, ranges from 0 to 1, refers to the extent income is disributed in an uneven manner among the population. Gini index of 0 implies perfect income equality, i.e., every individual receives equal share. Gini index of value 1 indicates perfect income inequality, impling that only one individual receives all the income. Source: U.S. Census Bureau, American Community Survey.
Black-White Unemployment Rate Gap
- The unemployment rate gap in Tampa Bay has steadily decreased from 7 3 in 2012 to 2 0 in 2023, reflecting a significant improvement in employment equality between Black and White populations Its ranking also improved from 9th in 2012 to 4th in 2023, indicating that Tampa Bay is emerging as a leader in reducing racial employment disparities
- In 2023, Nashville had the smallest unemployment rate gap at 0 7 (Rank 1), indicating near parity in employment opportunities In contrast, St Louis, with a gap of 6 1 (Rank 20) had the highest disparity highlighting ongoing challenges in employment equity
the
Black-White Unemployment Rate Gap
• The unemployment rate gap in Tampa Bay has steadily decreased from 7.3 in 2012 to 2.0 in 2023, reflecting a significant improvement in employment equality between Black and white populations. Its ranking also improved from ninth in 2012 to fourth in 2023, indicating that Tampa Bay is an emerging leader in reducing employment disparities.
• In 2023, Nashville had the smallest unemployment rate gap at 0.7, indicating near parity in employment opportunities. In contrast, St. Louis had the highest disparity with a gap of 6.1, highlighting ongoing challenges in employment equity.
Measures the Black-white gap in the percentage of the jobless labor force aged 25-64 who are either working or actively looking for work. It is calculated by subtracting the unemployment rate of African-Americans from that of white Americans in the MSA. The unemployment rate is based on the Civilian Labor Force, which includes both employed and unemployed individuals. Source: U.S. Census Bureau, American Community Survey, 1-Year Estimates.
Black-White Poverty Rate Gap
- The poverty rate gap in Tampa Bay has narrowed significantly from 17 4 in 2012 to 7 6 in 2023 Its ranking improved from 16th in 2012 to 5th in 2023, demonstrating notable progress in reducing economic disparities between Black and White populations
Black-White Poverty Rate Gap
- Austin recorded the smallest poverty rate gap at 4 9 in 2023, showcasing greater economic equality On the other hand, St Louis, with a gap of 15 0 (Rank 20), exhibited the largest disparity indicating persistent economic inequality
• The poverty rate gap in Tampa Bay has narrowed significantly from 17.4 in 2012 to 7.6 in 2023. Its ranking improved from 16th in 2012 to fifth in 2023, demonstrating notable progress in reducing economic disparities between Black and white populations.
• Austin recorded the smallest poverty rate gap at 4.9 in 2023, showcasing greater economic equality. On the other hand, St. Louis exhibited the largest disparity with a gap of 15.0, indicating persistent economic inequality.
Quantifies the disparity between Black and white workers employed full-time with incomes below the poverty line. Calculated by taking the difference between the average poverty rates of Black and white Americans within the MSA. The calculation considers the total population for whom poverty is determined. Source: Census Bureau, American Community Survey, Table S1701.
Black-White Labor Force Participation Rate Gap
- Minneapolis, Raleigh-Durham, and Baltimore consistently perform well with low Black-White labor force participation rate gaps, indicating better equity in these regions.
- Tampa Bay has a significant Black-White labor participation rate gap, which has been steadily increasing since 2013.
- Tampa Bay currently ranks at the bottom (20th), reflecting one of the highest disparities in labor force participation rates among MSAs.
• Minneapolis, Raleigh-Durham, and Baltimore consistently perform well with low Black-White labor force participation rate gaps, indicating better equity in these regions.
About: Measures the black-white gap in percent of the population ages 16 years old or older who are either working or actively looking for work. It is calculated by subtracting the labor force participation rate of african-americans from that of white americans in the MSA.
Source: Census Bureau, American Community Survey, table S2301
Black-White Labor Force Participation Rate Gap
• Tampa Bay has a significant Black-white labor participation rate gap, which has been steadily increasing since 2013. Tampa Bay currently ranks last, reflecting one of the highest disparities in labor force participation rates among MSAs.
Measures the Black-white gap in percent of the population aged 16 years or older who are either working or actively looking for work. It is calculated by subtracting the labor force participation rate of Black Americans from that of white Americans in the MSA.
Source: U.S. Census Bureau, American Community Survey, table S2301.
Black White Education Attainment Rate Gap
- San Antonio and Phoenix have consistently shown the smallest Black-White education attainment rate gaps, while Denver, Miami, and Raleigh-Durham exhibit the largest gaps, highlighting persistent disparities in these regions
Black-White Educational Attainment Rate Gap
- Tampa Bay has maintained a strong position over time ranking 8th in 2023 reflecting one of the lower gaps and steady performance in promoting education equity
• Raleigh-Durham, Miami, and Denver have the highest Black-White educational attainment rate gaps in recent years. San Antonio has the lowest gap among all MSAs.
• Tampa Bay’s educational attainment rate gap slightly increased over the years after reaching its lowest point in 2021. Its competitive rank peaked at first in 2021 but dropped to eighth in 2023.
Measures the Black-white gap in the percentage of population, aged 25 or older, who have
Source: U.S. Census Bureau, American Community Survey, table S1501.
or higher.
Black White Digital Access Gap
- Dallas and Phoenix exhibit the largest digital access gaps among MSAs, while Raleigh-Durham and Jacksonville have the smallest gaps, highlighting significant disparities in digital equity across regions
Black-White Digital Access Gap
• Dallas and Phoenix exhibit the largest digital access gaps among MSAs, while Raleigh-Durham and Jacksonville have the smallest gaps, highlighting significant disparities in digital equity across regions.
- Tampa Bay demonstrates a moderate and relatively stable digital access gap over the years, with slight improvements observed in recent periods, maintaining a consistent rank of 13th in competitive positioning About:
• Tampa Bay demonstrates a moderate and relatively stable digital access gap over the years, with slight improvements observed in recent periods, maintaining a consistent rank of 13th in competitive positioning.
Source: U S Census Bureau, American Community Survey, table B28009A & B28009B
Black-White Digital Access Gap
This measures the Black-white gap in the share of households with a computer and a dedicated physical broadband internet subscription using a service such as cable, fiber optic, or DSL. Calculated by subtracting the African-American households with a computer and a dedicated physical broadband internet subscription from white american households. Source: U.S. Census Bureau, American Community Survey, table B28009A & B28009B.
Black-White Public Transportation Rate Gap
Black-White Public Transportation Rate Gap
- Portland and Jacksonville exhibit the highest Black-White public transportation rate gaps, indicating significant disparities over the years - Tampa Bay shows a relatively moderate gap that fluctuates over time but has shown improvement in recent years - By 2023 Tampa Bay ranks 3rd in a competitive position reflecting notable progress in narrowing the gap compared to other MSAs
• Portland and Jacksonville exhibit the highest Black-White public transportation rate gaps, indicating significant disparities over the years.
• Tampa Bay shows a relatively moderate gap that fluctuates over time but has shown improvement in recent years.
• By 2023, Tampa Bay ranks third in a competitive position, reflecting notable progress in narrowing the gap compared to other MSAs.
Measures the black-white gap in percent of the population who are using public transportation as their means of transportation. It is calculated by subtracting the the percentage of African-American workers using public transportation from that of white American workers in each MSA.
Source: Census Bureau, American Community Survey, table S0802.
Black-White Car Transportation Rate Gap
- Portland exhibits the highest Black-White car transportation rate gap over the years, followed by Denver and Phoenix
- Tampa Bay shows a moderate gap that has gradually declined over the years, reflecting steady improvement
- Tampa Bay ranks 13th in the competitive position trend, maintaining a middle-tier position compared to high-gap MSAs like Portland
Source:
Black-White Car Transportation Rate
Gap
Year 2019 2021 2023
• Portland exhibits the highest Black-White car transportation rate gap over the years, followed by Denver and Phoenix.
• Tampa Bay shows a moderate gap that has gradually declined over the years, reflecting steady improvement.
• Tampa Bay ranks 13th in the competitive position trend, maintaining a middle-tier position compared to high-gap MSAs like Portland.
Black-White Car Transportation Rate Gap
Measures the black-white gap in percent of the population who are using car as their means of transportation. It is calculated by subtracting the percentage of African-American workers using a car as the primary means of transportation from that of white American workers in each MSA.
Source: Census Bureau, American Community Survey, table S0802.
Section 2: Affordability
Affordability in Tampa Bay is a multifaceted issue encompassing essential aspects of daily life such as housing, health care, education, transportation and utilities. By examining relevant metrics and comparing them against other metropolitan areas, this section provides a data-driven understanding of the region’s affordability landscape. USF researchers aim to empower policymakers and residents with insights to make informed decisions that enhance quality of life while balancing financial well-being.
Housing is a cornerstone of affordability, with costs impacting both homeownership and rental markets. The Zillow Home Value Index tracks the changes in home prices, while the Zillow Observed Rent Index reflects rental price trends in Tampa Bay. The median days for homes on the market provides a sense of the housing market’s competitiveness. These indicators, along with the housing building permits and homeownership rate, reflect the area’s housing affordability and availability, showing how accessible homeownership is for residents.
The cost of education, particularly at the collegiate level, remains a significant concern for families and students. The average tuition rates for undergraduates and graduate students were analyzed to provide a snapshot of educational affordability in the region, and were complemented by an analysis of school funding adequacy to evaluate the region’s
school resources to support student success. By benchmarking these indicators against other regions, we gain a clearer picture of how Tampa Bay is positioned in terms of access to education.
Health care costs represent another critical aspect of affordability. Metrics such as annual health care expenditure by consumers, HRSA grants per capita, and child care costs help gauge the financial strain on households due to health care expenses. By comparing these figures to those of other regions, we can assess whether health care in Tampa Bay is priced in a way that ensures all residents have the necessary access to care without significant financial burden.
Utility costs play a significant role in the overall affordability equation. The comparison of regional pricing for utilities measures how electricity and water costs in the region compare to national averages, and this report also examines price changes in gasoline and electricity over time to reveal the evolving impact of these costs on residents. The data on the proportion of people using public transportation or cars to drive to work provides insights into commuting patterns and the financial burden of transportation. These metrics help residents weigh their options between public transit and personal vehicles when managing overall living costs.
Key Insights Regional Affordability
• Cost of Housing: Tampa Bay’s housing costs remain in the middle of the pack, with increased demand but still affordable compared to cities like Seattle and Denver. Home values have leveled out since peaking in 2022 and reflect a steady rise in housing market strength. The housing market appears to be stabilizing, with Tampa Bay ranking ninth for median days on the market. Consistent strong construction activity indicates ongoing growth and housing development in response to a rising population.
• Homeownership: Tampa Bay’s homeownership rates have gradually increased from 66.32% in 2013 to 70.38% in 2023, maintaining consistently ranked in the top 10, and ranked second in 2023, suggesting moderate competitiveness in the housing market.
• Health Care: HRSA grants slightly declined from 2021 to 2023, with Tampa Bay consistently ranking between seventh and eighth for health care funding. Consumer health spending now ranks seventh, highlighting the growing demand for health care.
• Education: Tampa Bay has the lowest graduate tuition in the nation, making it an attractive option for advanced students. The region remained competitive for undergraduate tuition, placing in the top 10. While public school funding per student increased, Tampa Bay’s comparative ranking remains 16th in 2024.
• Utilities: Tampa Bay’s utility costs have fluctuated slightly over the years, indicating a relatively stable environment for household utility costs. Tampa Bay shows a steady upward trend in electricity rates since 2020, now ranking seventh in 2023.
• Child Care: Child care costs rose, placing a growing financial burden on families in the region. Tampa Bay ranks sixth for the number of children eligible for a free or reduced-price lunch.
• Consumer Spending: Regional consumer spending grew significantly to rank fifth in 2023, driven by a strong regional economy and rising living costs.
• Transportation: Tampa Bay’s public transportation usage rank dropped slightly in 2023, reflecting shifting regional infrastructure needs. The region consistently ranks among top three MSA’s for car usage, indicating a continued reliance on personal vehicles, influencing overall transportation costs.
Marginal Regional Price Parities
Cost of Housing Index
• Tampa Bay’s housing costs have steadily increased from 108.71 in 2008 to 113.88 in 2022. The rank has remained consistent around ninth to 11th, indicating moderate housing cost competitiveness. The gradual rise in costs suggests increasing demand and potential housing market pressure.
• St. Louis led in housing affordability with a value of 79.98. San Diego ranked last, indicating significant affordability challenges.
Marginal Regional Price Parities (Cost of Housing)
Housing expenditures consist of the monetary rents paid by tenants for tenant-occupied housing, the rental value of farm dwellings, and spending on group housing. Housing price levels are only estimated for tenant-occupied housing. Source: U.S. Bureau of Economic Analysis, “MARPP Regional price parities by MSA: Housing.”
Zillow Home Value Index
-San Diego and Seattle consistently recorded the highest home values among MSAs, driven by strong market demand and favorable economic factors, while St Louis and Houston had the lowest rents with minimal increases over the years
-Tampa Bay’s ranking shifted from 4th in 2019 to 8th in 2022, and further to 4th in 2023, with home values peaking at $356K in 2023 This reflects steady growth in home values and increasing demand, highlighting its growing attractiveness in the real estate market
Zillow Home Value Index
Year 2019 2021 2023
• San Diego and Seattle consistently recorded the highest home values among MSAs, driven by strong market demand and favorable economic factors, while St. Louis and Houston had the lowest rents, with minimal increases over the years.
• Tampa Bay’s ranking shifted from fourth in 2019 to eighth in 2022, and further to fourth in 2023, with home values peaking at $356K in 2023. This reflects steady growth in home values and increasing demand, highlighting its growing attractiveness in the real estate market.
The Zillow Home Value Index (ZHVI) tracks typical home values and market changes across regions, focusing on the 35th to 65th percentile range. It includes top-tier, bottom-tier, single-family residences, condos/co-ops, and homes by bedroom count. Source: Zillow Economic Research, Zillow Home Value Index. (Data downloaded from Zillow Research Data).
Zillow Home Value Index
Zillow Observed Rent Index
Zillow
-San Diego consistently recorded the highest rents across all years, followed by Miami and Seattle, while St Louis consistently had the lowest rents, reflecting strong economic activity and sustained rental demand in the former regions and relative affordability in the latter -Tampa Bay's ranking shifted from 7th in 2019 to 16th in 2023 indicating its growing attractiveness and demand in the rental market -Rents in Tampa Bay surged by 81% from 2015 to 2023, with the sharpest growth occurring after 2020, indicating the impact of pandemic-driven demand and a broader appeal in the middle-tier rental market
Observed Rent Index
• San Diego consistently recorded the highest rents across all years, followed by Miami and Seattle, while St. Louis consistently had the lowest rents, reflecting strong economic activity and sustained rental demand in the former regions and relative affordability in the latter.
• Tampa Bay’s ranking shifted from seventh in 2019 to 16th in 2023, indicating its growing attractiveness and demand in the rental market.
About: The Zillow Observed Rent Index (ZORI) tracks typical market-rate rents across regions focusing on the 35th to 65th percentile to represent the middle-tier rental market It includes All Homes Single-Family Residences, and Multi-Family Residences, reflecting trends in broader rental housing
Source: Zillow Economic Research Zillow Observed Rent Index (ZORI) (Data downloaded from Zillow Research Data)
• Rents in Tampa Bay surged by 81% from 2015 to 2023, with the sharpest growth occurring after 2020, indicating the impact of pandemic-driven demand and a broader appeal in the middle-tier rental market.
The Zillow Observed Rent Index (ZORI) tracks typical market-rate rents across regions, focusing on the 35th to 65th percentile to represent the middle-tier rental market. It includes All Homes, Single-Family Residences, and Multi-Family Residences, reflecting trends in broader rental housing.Source: Zillow Economic Research, Zillow Observed Rent Index. (Data downloaded from Zillow Research Data.)
Zillow Observed Rent Index
Zillow Observed Renter Demand Index
-San Diego and St Louis consistently recorded the highest rental demand, reflecting strong market dynamics, while Houston and Miami demonstrated steady growth, highlighting their sustained appeal in the rental market
Zillow Observed
-Tampa Bay rental demand surged, peaking in 2021 due to strong pandemic-driven migration, with its rank reaching 4th that year before dropping to 10th in 2022 and settling at 11th in 2023
Demand
• San Diego and St. Louis consistently recorded the highest rental demand, reflecting strong market dynamics, while Houston and Miami demonstrated steady growth, highlighting their sustained appeal in the rental market.
-Despite the decline, Tampa Bay maintained a competitive ranking compared to cities like Miami and Austin, particularly in Single-Family and Multi-Family rental categories Notably, all MSAs experienced a decline in rental demand after 2022
• Tampa Bay rental demand surged, peaking in 2021 due to strong pandemicdriven migration, with its rank reaching 4th that year before dropping to 10th in 2022 and settling at 11th in 2023.
About: The Zillow Observed Renter Demand Index (ZORDI) tracks rental market engagement across regions using interactions with Zillow listings to measure changes in demand It covers All Homes, Single-Family Residences Condos and Multi-Family Residences at national and MSA levels
Source: Zillow Economic Research, Zillow Observed Renter Demand Index (ZORDI) (Data downloaded from Zillow Research Data)
• Despite the decline, Tampa Bay maintained a competitive ranking compared to cities like Miami and Austin, particularly in Single-Family and Multi-Family rental categories. Notably, all MSAs experienced a decline in rental demand after 2022.
The Zillow Observed Renter Demand Index tracks rental market engagement across regions using interactions with Zillow listings to measure changes in demand. It covers All Homes, Single-Family Residences, Condos and Multi-Family Residences at national and MSA levels.
Source: Zillow Economic Research, Zillow Observed Renter Demand Index. (Data downloaded from Zillow Research Data.)
-Leading MSAs in terms of housing market activity and demand included Dallas, Denver, and Portland, consistently ranking high due to sustained market momentum -The market hotness in Tampa Bay peaked in 2021, driven by strong housing demand and migration, but normalized through 2023 as conditions stabilized -Tampa Bay ranked 3rd in 2021, dropped to 17th in 2022, and rebounded to 9th in 2023, demonstrating resilience and maintaining strong competitiveness in the housing market compared to other MSAs The 2023 recovery in Tampa Bay presents an opportunity to sustain market momentum by improving housing affordability, investing in infrastructure, and addressing supply-demand imbalances to attract long-term residents and investors
Housing Market Hotness
• Leading MSAs in terms of housing market activity and demand included Dallas, Denver, and Portland, consistently ranking high due to sustained market momentum.
• The market hotness in Tampa Bay peaked in 2021, driven by strong housing demand and migration, but normalized through 2023 as conditions stabilized.
• Tampa Bay ranked third in 2021, dropped to 17th in 2022, and rebounded to ninth in 2023, demonstrating resilience and maintaining strong competitiveness in the housing market compared to other MSAs. The 2023 recovery in Tampa Bay presents an opportunity to sustain market momentum by improving housing affordability, investing in infrastructure, and addressing supply-demand imbalances to attract long-term residents and investors.
Number of Private Housing Structure Building Pemits
-Raleigh-Durham and Tampa Bay have consistently led in housing authorization rates over the last decade, signaling strong growth in housing demand and construction These MSAs have seen significant investments in real estate development due to factors like population growth, economic conditions, and urban expansion In contrast St Louis and San Diego show relatively lower authorization rates suggesting slower growth in their housing sectors
• Raleigh-Durham and Tampa Bay consistently exhibit the highest housing authorization rates, indicating that these MSA have experienced significant growth in housing demand and construction activity. Conversely, St. Louis and San Diego appear to have comparatively lower authorization rates.
-Tampa Bay, in particular, has experienced steady growth from 2013 to 2022, with a notable achievement in 2019 when it ranked 1st place in housing authorizations This reflects the region's ability to capitalize on economic opportunities and infrastructure development, solidifying its position as a key player in the housing market
Private Housing Structure Building Permits
• The trend for Tampa Bay demonstrates a steady upward trajectory over the past decade, achieving a first place ranking in 2019 compared to other regions. This indicator represents the total number of building permits for all structure types, including 1-unit, 2-unit,3-unit,4-unit,5-unit in each MSA. Sources: U.S.Census Bureau, New Private Housing Structures
Number of Private Housing Structure Building Permits
Home Ownership Rate
- Over the years, Tampa Bay has maintained a relatively stable performance in homeownership rates, with values gradually increasing from 66 32% in 2013 to 70 38% in 2023 It has consistently performed well being in Top 10, and ranked 2nd in 2023, suggesting moderate competitiveness in the housing market This stability implies a balanced housing environment with no significant volatility
Homeownership Rate
- Over the years, San Diego has been the worst-performing MSA, indicating potential challenges in affordability or a stagnant market environment On the other hand, St Louis ranked the highest with a homeownership rate of 71% in 2023, reflecting a highly competitive housing market likely driven by urban density and limited housing supply
• Tampa Bay has maintained a relatively stable performance in homeownership rates, with values gradually increasing four points over the past decade. It has consistently performed well, suggesting moderate competitiveness in the housing market. This stability implies a balanced housing environment with no significant volatility.
• San Diego has been the worst-performing MSA, indicating potential challenges in affordability or a stagnant market environment. On the other hand, St. Louis ranked the highest with a homeownership rate of 71% in 2023, reflecting a highly competitive housing market likely driven by urban density and limited housing supply.
Home Ownership Rate
Annual Health
Expenditure by Consumers
-Minneapolis has consistently ranked first, with health care expenses reaching $7,266 in 2023, reflecting strong infrastructure and investments Miami often trails at the bottom, highlighting significant gaps in access and funding Denver remains a steady second, showcasing balanced growth and robust health care systems
-Tampa Bay ranked 12th from 2017 to 2019 but climbed to 7th in 2023, showing a clear recovery Health care expenses increased from $4,458 in 2016 to $6,112 in 2023, indicating steady growth
• Minneapolis has consistently ranked first, with health care expenses reaching $7,266 in 2023, reflecting strong infrastructure and investments. Miami often trails at the bottom, highlighting significant gaps in access and funding. Denver remains a steady second, showcasing balanced growth and robust health care systems.
About: Annual health care expenditure by consumers for MSA's CPI tracks variation in health care expenditure on Yearly Basis
Annual Health Expenditure by Consumers
Source: U S Bureau of Labor Statistics Due to unavailability of data only 12 MSAs are used for the analysis of this indicator
Annual Health Expenditure
Year 2019 2021 2023
• Tampa Bay ranked 12th from 2017 to 2019 but climbed to seventh in 2023, showing a clear recovery. Health care expenses increased from $4,458 in 2016 to $6,112 in 2023, indicating steady growth. Annual health care expenditure by consumers for each MSA, as reported in the Consumer Expenditure Survey.
Source: U.S. Bureau of Labor Statistics. Due to unavailability of data only 12 MSAs are used for the analysis of this indicator.
Average Tuition for Undergraduate Education
- Portland and Austin have consistently maintained the highest tuition rates for undergraduate education, making them the least affordable MSAs Phoenix and Houston consistently rank as the most affordable MSAs for undergraduate tuition, indicating lower tuition fees in these regions
• Portland and Austin have consistently maintained the highest tuition rates for undergraduate education, making them the least affordable MSAs.
- Tampa Bay is maintaining moderate tuition fees, making it an attractive ch oice for students seeking a balance between cost and educational opportunities
• Phoenix and Houston consistently rank as the most affordable MSAs for undergraduate tuition, indicating lower tuition fees in these regions.
About: Average Undergrdaute Tuition fees for Major Universities (both public & private) in each MSA
Average Tuition for Undergraduate Education
Source: Integrated Postsecondary Education Data System - IPEDS
• Tampa Bay is maintaining moderate tuition fees, making it an attractive choice for students seeking a balance between cost and educational opportunities.
Average Tuition For Undergraduate Education
Average Undergraduate Tuition fees for major universities (both public and private) in each MSA.
Source: Integrated Postsecondary Education Data System - IPEDS.
Average Tuition for Graduate Education
- Seattle, Portland and Nashville have some of the highest tuition rates in recent years, while Tampa Bay and Atlanta stand out as the most affordable MSAs for graduate education
- Tampa Bay's affordability rank has consistently improved over the years It improved from �nd place in ���� to �st rank in ���� and continues to stay at the top This reflects its competitiveness among the most affordable MSAs for graduate education
• Seattle, Portland and Nashville have some of the highest tuition rates in recent years, while Tampa Bay and Atlanta stand out as the most affordable MSAs for graduate education.
About: Average Graduate Tuition fees for Major Universities (both public & private) in each MSA
Source: Integrated Postsecondary Education Data System - IPEDS
Average Tuition for Graduate Education
Year 2019 2021 2023
• Tampa Bay’s affordability rank has consistently improved over the years. It improved from second place in 2020 to first rank in 2021 and continues to stay at the top. This reflects its competitiveness among the most affordable MSAs for graduate education.
Average Tuition for Graduate Education
Average Graduate Tuition fees for Major Universities (both public & private) in each MSA.
Source: Integrated Postsecondary Education Data System - IPEDS.
School Funding
School Funding Adequacy
-Over 2022-2024, Tampa Bay saw a steady but slower rise in per-pupil spending, moving from $9,847 in 2022 to $10,469 in 2024 While improvements are evident, Tampa Bay remains significantly behind higher-ranking MSAs such as San Diego and Baltimore, which maintain leading positions with spending surpassing $15,000 -Tampa Bay's rank declined from 13th in 2022 to 16th in 2024, re flecting limited competitiveness against MSAs like Seattle and Portland, which show stronger spending growth Despite moderate improvements in spending, Tampa Bay's slower progress highlights challenges in achieving parity with top-performing MSAs
Adequacy
• Over 2022-2024, Tampa Bay saw a steady but slower rise in per-pupil spending, moving from $9,847 in 2022 to $10,469 in 2024. While improvements are evident, Tampa Bay remains significantly behind higher-ranking MSAs such as San Diego and Baltimore, which maintain leading positions with spending surpassing $15,000.
About: School Funding Adequacy for MSAs Tracks yearly variation in per-pupil school funding expenditure to analyze adequacy and competitiveness across metropolitan statistical areas (MSAs)
Source: County Health Rankings & Roadmaps
• Tampa Bay’s rank declined from 13th in 2022 to 16th in 2024, reflecting limited competitiveness against MSAs like Seattle and Portland, which show stronger spending growth. Despite moderate improvements in spending, Tampa Bay’s slower progress highlights challenges in achieving parity with top-performing MSAs.
School Funding Adequacy
Over Time
Competitive Position Trend
School Funding Adequacy for MSAs. Tracks yearly variation in per-pupil school funding expenditure to analyze adequacy and competitiveness across metropolitan statistical areas (MSAs). Source: County Health Rankings & Roadmaps.
Marginal Regional Price Parities
affordability challenges
Cost of Utilities Index
2018 2020 2022
Cost of Utilities
• Tampa Bay’s utility costs have shown minor fluctuations over the years, decreasing slightly from 98.42 in 2008 to 91.70 in 2022. Its rank has ranged between seventh and 15th, indicating moderate competitiveness in utility affordability. This suggests a relatively stable environment for household utility costs compared to other regions.
• St. Louis had the most affordable utility costs in 2022 with a value of 76.78, highlighting efficient utility management. In contrast, San Diego faced the highest utility costs at 161.07, reflecting significant affordability challenges.
Price Parity (Cost of Utilities)
Cost of Utilities (Regional Price Parities) - Household utilities consist of water supply and sanitation and electricity and gas.
Source: U.S. Bureau of Economic Analysis, “MARPP Regional price parities by MSA.
Consumer Price Index - Education and Communication Services
-Across various Metropolitan Statistical Areas (MSAs), the competitive position of Tampa Bay demonstrates a significant improvement, particularly from 2020 onward, consistently achieving top ranks (1st and 2nd) in 2023, highlighting its strong post-pandemic recovery Other MSAs like Miami and Atlanta also experienced strong performances, peak ing at the 1st rank in recent years -As of 2023, while Tampa Bay maintains its competitive edge, other MSAs such as Houston and Denver exhibit more fluctuating ranks, indicating varying degrees of economic stability and recovery across the regions
Education and Communication Services
• Tampa Bay’s competitive position has shown significant improvement, particularly since 2020, reaching second place in 2023, which highlights its strong post-pandemic recovery. Miami also performed well, reaching first place in recent years.
About: 12-month percentage change of Consumer Price Index (CPI) for MSA's CPI tracks variation in prices paid by typical consumers for Education and Communication on Yearly Basis
Source: U S Bureau of Labor Statistics
Consumer Price Index
• As of 2023, while Tampa Bay maintains its competitive edge, other MSAs such as Houston and Denver exhibit more fluctuating ranks, indicating varying degrees of economic stability and recovery across the regions.
Due to unavailability of data only Tampa–St Petersburg-Clearwater metropolitan statistical area is considered and data is available for 11 MSAs for the analysis of this indicator
Twelve-month percentage change of Consumer Price Index average education at communication services for MSAs. CPI tracks variation in prices paid by typical consumers for tuition, phone, internet and television services on yearly basis. Source: U.S. Bureau of Labor Statistics. Due to unavailability of data, only 11 MSAs were analyzed. Year 2019 2021 2023
Percentage Change in Gasoline Price
-Tampa Bay exhibited a dramatic surge in percentage change in gasoline prices during 2022, with a peak increase of 42 7%, securing the 3rd rank that year However, the region's rank slipped to 6th in 2023 and stabilized at 8th in 2024, indicating consistent price recovery but leaving room for improvement compared to more competitive regions
-Denver led the rankings in 2022 with the highest resilience to price fluctuations while Phoenix and Houston excelled in 2024 sharing the top position Conversely Baltimore and San Diego demonstrated weaker performances, often ranking in the bottom tier during critical periods, reflecting challenges in stabilizing fuel prices
Percentage Change in Gasoline
Price
• Tampa Bay exhibited a dramatic surge in the percentage change in gasoline prices during 2022, with a peak increase of 42.7%, securing the third rank that year. However, the region’s rank slipped to sixth in 2023 and stabilized at eighth in 2024, indicating consistent price recovery but leaving room for improvement compared to more competitive regions.
• Denver led the rankings in 2022 with the highest resilience to price fluctuations, while Phoenix and Houston excelled in 2024, sharing the top position. Conversely, Baltimore and San Diego demonstrated weaker performances, often ranking in the bottom tier during critical periods, reflecting challenges in stabilizing fuel prices.
Trend Over Time
The dataset represents average consumer prices for all grades of unleaded gasoline, calculated alongside household fuel, motor fuel, and food items for the Consumer Price Index (CPI). Source: Average Price: Gasoline, All Types (Cost per Gallon/3.785 Liters), retrieved from FRED, Federal Reserve Bank of St. Louis.
and Seattle continue to demonstrate
lower rates not only support
Average Price of Electricity per Kilowatt Hour
• Areas like San Diego and Minneapolis consistently exhibit the highest KWPH pricing rate, indicating that these cities may have higher energy demand, infrastructure costs, or policy-driven factors contributing to elevated rates. Conversely, cities like St. Louis and Seattle appear to have comparatively lower electricity prices, possibly due to abundant local energy resources or efficient energy production systems.
• The trend for Tampa Bay demonstrates a steady upward trajectory since 2020, now ranking seventh among 12 MSAs.
Date Jan 2019 Jan 2021 Jan 2023
for these 12 MSAs. Sources: U.S.
Estimated Child Care Costs
- Tampa Bay's childcare costs have shown a steady increase rising from $133 06 in 2015 to $167 79 in 2022 Despite this growth its ranking has fluctuated between 5th and 8th, indicating moderate competitiveness in childcare affordability This trend suggests that while costs are increasing, Tampa Bay remains relatively accessible compared to other MSAs - In 2022 Nashville emerged as the most affordable MSA for childcare highlighting better affordability and access Conversely Seattle with the highest average cost of $307 82 (Rank 15), reflects significant financial challenges for families, likely due to high living expenses and limited affordable childcare options
Child Care Costs
• Tampa Bay’s child care costs have shown a steady increase, rising from $133.06 in 2015 to $167.79 in 2022. Despite this growth, its ranking has fluctuated between fifth and eighth, indicating moderate competitiveness in child care affordability. This trend suggests that while costs are increasing, Tampa Bay remains relatively accessible compared to other MSAs.
• In 2022, Nashville emerged as the most affordable MSA for child care, highlighting better affordability and access. Conversely, Seattle, with the highest average cost of $307.82 (ranked 15th), reflects significant financial challenges for families, likely due to high living expenses and limited affordable child care options.
The child care cost indicator represents the weekly, full-time median price of child care services, segmented by age group (infant, toddler and preschool) and provider type (center-based and family child care). These costs are calculated and averaged at the county level for the years 2015–2022, providing insights into child are affordability and trends over time. Source: U.S. Department of Labor. National Database of Child Care Prices (NDCP).
Percentage of Children Eligible for Free or Reduced Price Lunch
-Tampa Bay consistently held a comparative position over time, maintaining its rank within the top 6 across most years This indicates steady performance relative to other MSAs, although some fluctuations occurred, especially around 2017, where its rank briefly dropped to 7 before stabilizing back to 5 in recent years
-Comparing other MSAs like Miami and San Antonio, Miami consistently held the highest position across all years since 2011 San Antonio showed a strong upward trajectory, climbing into top positions (ranks 1-3) post-2016, emphasizing significant improvements in relative performance
• Tampa Bay consistently held a competitive position over time, maintaining its rank within the top six across most years. This indicates steady performance relative to other MSAs, although some fluctuations occurred, especially around 2017, where its rank briefly dropped to seven before stabilizing back to five in recent years.
About: This indicator tracks the percentage of children eligible for free or reduced-price lunch programs across various Metropolitan Statistical Areas (MSAs) on a yearly basis
Children Eligible for Free or Reduced Price Lunch
Source: County Health Rankings & Roadmaps
• Comparing other MSAs like Miami and San Antonio, Miami remained a dominant leader, holding the first position across all years. San Antonio showed a strong upward trajectory, climbing into top positions (ranks first through third) post-2016, emphasizing significant improvements in relative performance.
Children Eligible for Free or Reduced Price Lunch
This indicator tracks the percentage of children eligible for free or reduced-price lunch programs across various Metropolitan Statistical Areas (MSAs) on a yearly basis. Source: County Health Rankings & Roadmaps Due to data limitations, only 15 MSAs have been included in the analysis.
Tampa Bay
Consumer Spending
-San Antonio and Nashville experienced a strong recovery from the economic downturn caused by the 2020–2021 pandemic with consumer spending levels significantly bouncing back in 2022 and 2023 Both MSA's not only recovered but also saw substantial growth in spending patterns compared to pre-pandemic years
Consumer Spending
• San Antonio and Nashville demonstrated a remarkable recovery from the economic impacts of the 2020–2021 pandemic, with consumer spending levels rebounding significantly in 2022 and 2023. In contrast, cities like Portland and San Diego faced challenges in their recovery.
In Contrast, Portland and San Diego have faced more difficulty in their recovery, with consumer spending showing slower growth or stagnation in comparison to other MSA
-Tampa Bay's consumer spending has seen a dynamic shift over recent years After experiencing its lowest ranking of 16th place in 2020, the region surged forward, achieving a spot within the top 10 in the subsequent years By 2023, Tampa Bay reached an impressive position within the top 5
• Tampa Bay’s trajectory has been fluctuating over the years. After reaching its lowest ranking (16th) in 2020, Tampa Bay had achieved a position within the top 10 during the following years. On 2023 it reached a top five ranking.
Trend Over Time
Position Trend
This indicator represents the percentage change in total consumer spending for each (MSA) compared to January 2020. Jacksonville, Orlando and St Louis data are missing. Sources: Opportunity Insights Economic Tracker - tracktherecovery.org
Means of Public Transportation
- Dallas and Miami show consistently high public transportation usage rates, ranking among the top-performing MSAs over the years
- Tampa Bay shows significant growth in public transportation usage, peaking around 2021, before declining slightly in 2023
- Tampa Bay's rank has improved significantly, reaching the top 5 by 2021, but dropped slightly to 8th place in 2023, remaining competitive among other MSAs
Percentage of Workers Using Public Transportation
• Dallas and Miami show consistently high public transportation usage rates, ranking among the top-performing MSAs over the years.
• Tampa Bay shows significant growth in public transportation usage, peaking around 2021, before declining slightly in 2023.
• Tampa Bay’s rank has improved significantly, reaching the top five by 2021, but dropped slightly to eighth place in 2023, remaining competitive among other MSAs.
The measure estimates the population using public transport as their primary means of transportation.
Source: Census Bureau, American Community Survey, table B08301.
-
-
Percentage of Workers
Commuting by Car
Means of Car Transportation
• Austin has the highest car usage rate among all MSAs, maintaining a leading position across all years.
• Tampa Bay shows consistently high car usage rates, with a stable trend since 2018, remaining one of the top MSAs for car transportation.
• Tampa Bay consistently ranks within the top three MSAs, maintaining a strong position alongside leaders like Austin and Atlanta.
The measure estimates the population using cars as their primary means of transportation.
Source: Census Bureau, American Community Survey, table B08301.
Section 3: Talent Pipeline
The future success of Tampa Bay’s economy is intrinsically tied to the strength and stability of its talent pipeline. This section explores the diverse factors that influence talent availability including job opportunities, salary trends, migration patterns, and the search behaviors of job seekers. By leveraging real-time data from Google Trends and Adzuna, this analysis provides an in-depth understanding of the region’s workforce dynamics and economic vitality.
Salary and Job Search Trends
Salaries are a critical variable influencing talent availability and retention. Insights into average salaries for sectors such as engineering, health care and information technology are sourced from Adzuna, a job aggregation platform. These figures highlight Tampa Bay’s competitiveness in attracting skilled professionals across industries. Google job search trends also provide a realtime snapshot of workforce behaviors shed light on regional employment preferences and emerging workforce patterns.
Indicators of Talent and Migration
Tampa Bay’s talent pipeline is assessed through indicators including college persistence rates, first-time-in-college student enrollment, and job market growth across industries like health care, telecommunications and professional services. The Indeed Job Postings Index and Net Job Flows provide useful insights for job availability and workforce migration, while international migration patterns reveal the region’s attractiveness on a global scale.
Google Trends
Some talent indicators analyzed in this section relied on data from Google Trends. For our research, obtaining real-time data was crucial to accurately capture the evolving dynamics and trends across various regions.
Google Trends Methodology
Google Trends serves as a powerful tool to understand public interest in specific search queries across different regions. The platform assigns an index value (0-100) to each search term, representing its relative popularity within a specific timeframe and geography. For our analysis, we utilized Google Trends data to rank the popularity of job-related search terms across multiple MSAs from 2019 to 2024.
Due to Google Trends’ limitation of comparing only five MSAs at a time, we adopted a weighted averaging methodology to ensure comprehensive coverage of all MSAs. In this approach, we selected one MSA (Charlotte) as the constant anchor city across all rounds of comparisons. For every year, we conducted multiple rounds of comparisons, where the average score for each MSA in each round was normalized relative to the anchor city’s average score. This normalization involved calculating a scaling factor (100 divided by the anchor city’s average score) for each round and applying it to the scores of all MSAs in that round. Once normalized, the scores across all rounds were combined to produce a unified ranking of MSAs for each year. The rankings represent the relative popularity of job-related searches, allowing us to identify key trends and hotspots effectively. This methodology enabled us to account for Google Trends’ constraints while ensuring an accurate and holistic analysis of public interest in full-time and part-time job searches.
Our goal was to observe and track a specific theme across 20 MSAs selected for the study. We analyzed the themes with their corresponding search terms as follows: Full-time Jobs as “Full time jobs,” Part-time Work as “Part time jobs,” Remote Jobs as “Remote jobs,” and Business Activity as “How to start business.” The index values collected for these themes are limited to the Tampa-St Petersburg-Clearwater MSA, due to unavailability of data for other Tampa Bay MSAs.
Key Insights Talent Pipeline
• First-Time Student College Enrollment Trends: Despite historically ranking lower for first-time student college enrollment, Tampa Bay has demonstrated strong student persistence rates over the past four years. However, a gradual decline in its persistence ranking since 2019 indicates potential challenges in sustaining long-term student engagement.
• Online Job Search Behavior: Interest in full-time and part-time job searches in Tampa Bay has remained stable since 2019, consistently ranking between ninth and 12th nationally. In contrast, the region has emerged as a key hub for remote job searches, with rankings steadily rising since 2023. This trend suggests a growing preference for or availability of remote work opportunities in the area.
• Sector-Specific Employment Performance: Tampa Bay’s financial sector employment has seen varied trends over the past decade, including significant growth from 2015 to 2018, followed by a steady decline since 2019 amidst recent economic challenges. In contrast, health care employment remains a regional strength, consistently achieving top rankings. Notably, health care jobs experienced nearly a 10% increase in 2023, one of the highest growth rates nationally, second only to Orlando.
• Job Postings and Net Job Flows: Tampa Bay has maintained a strong position in net job rankings, consistently placing in the top nine over the past decade. However, since 2021, the region has faced a noticeable decline in available job opportunities. Recent real-time data from Adzuna suggests a modest recovery, with job postings showing a slight increase in 2024.
• Tampa Bay Job Posting Salaries by Sector: In October 2024, Tampa Bay’s engineering salaries for new job postings rose slightly but ranked 13th, trailing leaders like San Diego and Jacksonville. Health care salaries for new job postings fell from 13th to 15th, with Austin leading in this indicator. IT salaries for new job postings in the Tampa Bay grew steadily from $72K on August 2022 to $75K on October 2024, ranking second and only behind Minneapolis. This indicates strong growth of IT sector in Tampa Bay area.
• International Migration: Tampa Bay has maintained steady growth in international migration, consistently ranking between sixth and seventh within the comparison group. Despite its resilience, the region continues to trail behind top performers such as Miami and Houston.
College Persistence Rate
-Raleigh-Durham consistently achieves the highest college persistence rates among MSAs, reflecting its strong educational infrastructure and support systems, making it a benchmark for others In contrast, Jacksonville and Atlanta exhibit relatively low persistence rates, signaling challenges such as socioeconomic barriers and limited retention programs, which could be addressed through targeted initiatives like financial aid expansion and academic support
College Persistence
• Raleigh-Durham leads in college persistence, driven by strong educational systems. Jacksonville and Atlanta face barriers like socioeconomic challenges and retention issues, needing targeted strategies.
-Tampa Bay demonstrates stable persistence rates, with growth observed until 2019, though recent declines highlight the need for sustained efforts Despite this, Tampa Bay remains among the top 10 MSAs, showcasing resilience and the potential for further progress through strategic interventions This analysis emphasizes the need for high-performing regions to share best practices while lower-performing areas focus on addressing barriers to improve educational outcomes
About: Percentage of full-time students (undergraduate and above) who continued enrollment at same college/university after the first year of study
Source: Integrated Postsecondary Education Data System
• Tampa Bay demonstrates stable persistence rates, with growth observed until 2019, though recent declines highlight the need for sustained efforts. Despite this, Tampa Bay remains among the top 10 MSAs, showcasing resilience and the potential for further progress through strategic interventions.
First-Time Student Enrollment Rate
-Orlando and Phoenix have demonstrated significant growth in first-time student enrollment rates, reflecting consistent upward trends in their rankings over the past decade Conversely, MSAs like Miami and St Louis have experienced notable declines, as evidenced by their lower positions in recent years These trends highlight opportunities for high-performing MSAs to attract investments and enhance educational infrastructure, while lower-performing MSAs may need to address barriers such as affordability or accessibility
First-Generation Student Enrollment Rate
• Orlando and Phoenix show strong growth in first-time in college student enrollment, climbing steadily in rankings over a decade. In contrast, Miami and St. Louis face declines, reflecting barriers like affordability and accessibility.
-Tampa Bay's ranking over the last decade has fluctuated considerably It achieved its highest ranking in 2018 securing the 1st position showcasing strong enrollment performance during that period However, since 2021, a marked decline in Tampa Bay's ranking has been observed, aligning with a decreasing trend in its first-time student enrollment percentage This decline underscores the importance of sustaining
• Tampa Bay’s ranking over the past decade has fluctuated considerably. It achieved its highest ranking in 2018, securing the first position, showcasing strong enrollment performance during that period. However, since 2021, a marked decline in Tampa Bay’s ranking has been observed, aligning with a decreasing trend in its first-time student enrollment percentage.
- Tampa Bay's full-time job search interest has shown some irregularity over the years but has recently increased Over the past three years, it ranked 10th, maintaining a mid-tier position among MSAs and sustained interest in the region
Full-time Job Search Trends
- Charlotte NC led with a normalized score of 100 in last 5 years, indicating the highest demand for full-time positions Jacksonville FL, on the contrary showed the least interest over the years, possibly indicating a preference for alternative work arrangements
• Interest in full-time jobs in Tampa Bay increased in 2024 and remained top 10 in last two years, suggesting a resurgence in focus on full-time employment opportunities.
• Charlotte led with a normalized score of 100, indicating the highest demand for full-time positions. In contrast, Jacksonville showed the least interest over the years, possibly indicating a preference for alternative work arrangements.
Full-time Job Search Trends for all MSAs, using keywords “full time jobs.”
Source: Google Trends Data. As per latest data retrieved on Dec. 5, 2024.
Part time Job Search Trends
- Tampa Bay's part-time job interest has been consistently strong, ranking in the top 10 for five years In 2024, it dipped slightly to 12th, but overall interest remains stable and positive
Part-time Job Search Trends
- Charlotte NC recorded the highest interest in part-time jobs with a normalized score of 100, indicating a significant preference or demand for such roles Seattle-Tacoma WA ranked the lowest, reflecting comparatively less interest
• Tampa Bay’s part-time job search interest, measured by Google Trends scores, remained relatively consistent, dropped to 12th in ranking after being in top 10 for last years. The overall stability indicates sustained public interest in part-time opportunities in the region.
• Charlotte recorded the highest interest in part-time jobs with a normalized score of 100, indicating a significant preference or demand for such roles. Seattle ranked the lowest, reflecting comparatively less interest.
Part-time Job Search Trends for all MSAs, using keywords “part time jobs.”
Source: Google Trends Data. As per latest data retrieved on Dec. 5, 2024.
Tampa Bay
Remote Work
or declining trends
Job Search Trends
• Orlando consistently leads in remote job searches over time, showing the highest levels of interest among all MSAs.
• Tampa Bay has shown consistent growth in remote job searches since 2020, improving its position significantly and trending upwards in 2024.
• Tampa Bay ranks in the top five MSAs for remote job searches,with a clear upward trajectory, contrasting with MSAs like San Diego and Chicago, which have seen relatively stagnant or declining trends.
Remote-work Job Search Trends for all MSAs.
Source: Google Trends Data. As per latest data retrieved on Dec. 5, 2024.
Business Activity Search Trends
Since 2021, Dallas has consistently led in business activity searches, maintaining the highest average search volume, suggesting a sustained level of interest and engagement in the region's business environment, potentially driven by factors such as economic growth, corporate relocations, and a thriving job market
Business Activity Search Trends
• Dallas consistently leads in business activity searches, maintaining the highest average search volume among MSAs.
Conversely Denver has exhibited the least activity in searches throughout the decade indicating relatively lower interest in its business ecosystem which could reflect slower economic expansion or limited visibility Tampa Bay, on the other hand, demonstrates fluctuating trends in business activity searches After a strong performance in 2021, peaking at 4th place, search activity experienced a notable decline, dropping to 15th by 2023 However, there were signs of modest recovery by 2024, suggesting a potential resurgence in interest This variability underscores the dynamic nature of business activity in Tampa Bay,
• Tampa Bay shows fluctuating trends, with a significant drop in searches after 2021 but a slight recovery by 2024.
• Tampa Bay’s rank has varied significantly, peaking at seventh in 2021 but dropping to 15th by 2024, contrasting with consistently high-ranking MSAs like Dallas and Atlanta.
About: Search trends for business and entrepreneurship related topics/keywords
Source: Google Trends *Due to unavailability ofdata, only Tampa–St Petersburg-Clearwater
Business Activity Search Trends
Over Time
Position Trend
Search trends for business and entrepreneurship-related topics/keywords. Source: Google Trends.
*Due to unavailability of data, only Tampa–St. Petersburg-Clearwater metropolitan statistical area is considered for the analysis of this indicator.
Employment Rate in the Financial Sector
Percentage Change of Number of Employees in Financial Sector
• Austin and Orlando consistently exhibit strong increases in employment, suggesting robust growth and attractiveness in the financial sector. Conversely, Portland and Seattle appear to have comparatively lower competitiveness in these sectors.
-Austin and Orlando have shown strong and consistent employment growth, robust development and a growing appeal in the financial sector This trend highlights them as financial hubs On the other hand, Portland and Seattle have experienced slower growth, reflecting a comparatively lower percentage increase year over year in this sector
-Tampa Bay has significantly improved its ranking position over time, moving from 15th place in 2014 to a peak of 5th in 2018 Although there was a slight decline , Tampa has maintained a strong and stable position at 8th and 7th place from 2021 to 2023, showcasing consistency in the financial sector
• Tampa Bay’s competitive position has improved significantly over time, moving from 15th in 2014 to a peak of fifth in 2018. While there was a slight decline afterward, it has maintained a stable and strong position at seventh from 2021 to 2023, indicating consistent competitiveness in the financial sector.
This indicator represents the percentage change of employees in the category of financial activities or services within each MSA.
Sources: U.S. Bureau of Labor Statistics, All Employees: Financial Activities, retrieved from FRED, Federal Reserve Bank of St. Louis.
Percentage Change of Number of Employees in Health Care Sector
Both Orlando and Tampa Bay consistently demonstrate significant employment growth, thriving economic environments and expanding job markets within these MSAs This positive trend reflects strong investments, business development, and sector diversification, positioning them as leaders in employment expansion In contrast, Baltimore and Portland show comparatively lower improvement, with employment growth remaining modest and, in some cases, showing signs of decline These challenges suggest the need for revitalized strategies to stimulate job creation and economic activity in these regions
Employment Rate in Health Care Sector
• Orlando and Tampa Bay consistently exhibit a strong increase in health care employment, with Tampa Bay indicating a thriving and expanding sector in these MSAs. Conversely, MSAs like Baltimore and Portland appear to have comparatively lower competitiveness in this sector, with some declines in employment observed.
Since 2021, Tampa Bay has recorded steady, year-over-year employment growth The region's job market expanded significantly in 2023, with a 10% increase the second-highest percentage growth among all MSAs that year Contributing factors include the influx of new residents, the rise of key industries such as technology and Finance, and ongoing development projects supporting business expansion This consistent upward trend highlights Tampa Bay’s emergence as a dynamic economic hub, setting a benchmark for other regions aiming to enhance employment opportunities and sector growth
• Tampa Bay demonstrates a steady and significant growth in health care employment since 2018 by maintaining a top 10 ranking, particularly in 2023 achieving a 10% increase over the previous year, one of the highest growth rates within the MSAs set, only below Orlando.
Employment Rate in Health Care Sector
This indicator represents the percentage change of employees in the category of Health care, Hospitals within each MSA. Austin, Charlotte, Raleigh-Durham and Nashville data are missing. Sources: U.S. Bureau of Labor Statistics and Federal Reserve Bank of St. Louis, All Employees: Health Care: Hospitals.
Percentage Change of Number of Employees in Professional and Technical Sector
-Austin and Seattle have experienced a marked increase in employment within the professional and technical sector, with a particularly strong surge in 2021 This trend highlights the expanding resilience within this industry In contrast, Portland and Phoenix have shown more modest growth in the same sector, reflecting relatively weaker progress This divergence in growth patterns underscores the varying degrees of sectoral strength across these metropolitan areas
-Tampa Bay’s recent performance reveals a significant improvement in its rank between 2021 and 2022 However, this upward shift was followed by an important decline in 2023 The high rankings achieved before 2019 appears increasingly difficult The struggle to reclaim previous peak positions suggests underlying factors that may require strategic adjustments to regain a more recognize standing in the coming years
Employment in Professional and Technical Sectors
• Austin and Seattle exhibit a strong increase in employment in the professional and technical sectors, particularly in 2021, suggesting their growing dominance and robust growth in this field. Conversely, Portland and Phoenix show lower growth, reflecting weaker competitiveness in the sector.
• The trend for Tampa Bay in recent years indicates a significant improvement in competitive rank from 2021 to 2022, though it slightly declined in 2023. Recovering its highest rankings from before 2019 appears to be a challenge.
This indicator represents the percentage change of employees in the categories of Scientific, Professional, or Technical services within each MSA. Miami and Raleigh MSA data are missing. Sources: U.S. Bureau of Labor Statistics and Federal Reserve Bank of St. Louis, All Employees: Professional, Scientific, and Technical Services
Percentage Change of Number of Employees in Telecommunication Services
-Tampa Bay experienced fluctuations in telecommunications employment, reflecting industry-wide shifts, while maintaining relative workforce stability
Employment Rate in Telecommunications Sector
• Tampa experienced fluctuations in telecommunications employment, reflecting industry-wide shifts, while maintaining relative workforce stability.
-Tampa Bay's ranking improved over time, outperforming MSAs like Baltimore and Phoenix by 2024, highlighting growing competitiveness Compared to other MSAs, Tampa Bay showed moderate resilience, performing better than many peers but lagging stronger markets like Dallas and Charlotte
• Tampa’s ranking improved over time, outperforming MSAs like Baltimore and Phoenix by 2024, highlighting growing competitiveness.
• Compared to other MSAs, Tampa showed moderate resilience, performing better than many peers but lagging behind stronger markets like Dallas and Charlotte.
This data series tracks the total number of employees working in the telecommunications sector within the information industry. This metric provides insights into employment trends and workforce dynamics in telecommunications, reflecting changes in the sector’s growth, technological advancements, and market demands. Source: All Employees: Information: Telecommunications, retrieved from FRED, Federal Reserve Bank of St. Louis.
Indeed Job Postings
-Tampa Bay job postings experienced a significant spike in 2021, driven by pandemic-related economic recovery and heightened hiring demand, ranking among the top MSAs during this rebound phase
-From 2022 to 2024, Tampa Bay followed a stabilizing trend in job postings, consistent with broader labor market patterns However, starting in Q3 2023, Tampa Bay job postings declined relative to other MSAs, indicating a potential slowdown in hiring demand
Indeed Job Postings
• Tampa job postings experienced a significant spike in 2021, driven by pandemic-related economic recovery and heightened hiring demand, ranking among the top MSAs during this rebound phase.
-Leading MSAs in terms of job postings during the analyzed period included Miami, Seattle, and San Diego, consistently showcasing strong hiring demand and economic activity Tampa Bay performed well initially but began to lag behind these peers by late 2023
• From 2022 to 2024, Tampa followed a stabilizing trend in job postings, consistent with broader labor market patterns. However, starting in Q3 2023, Tampa job postings declined relative to other MSAs, indicating a potential slowdown in hiring demand.
• Leading MSAs in terms of job postings during the analyzed period included Miami, Seattle, and San Diego, consistently showcasing strong hiring demand and economic activity. Tampa performed well initially but began to lag behind these peers by late 2023.
The Indeed Job Postings Index is built from a 7-day moving average of job postings. Seasonal adjustments are based on patterns in historical data. Source: Economic Research by Indeed[Data from hiringlab.org]
Net Job Flows
• Dallas leads with the highest job gains, followed by Phoenix and Houston, indicating these cities are attractive job hubs.
Net Job Flows
- Dallas leads with the highest job gains, followed by Phoenix and Orlando, indicating these cities are attractive job hubs -
• Tampa Bay ranks in the top 10 from 2015 to 2020, moreover Tampa Bay achieved higher positioning during the 2019-2021 period. However, during the following years, a slight decrease has been presented making it achieve a seventh position ranking.
Net Job Flows
Trend Over Time
Competitive Position Trend
J2J Measures job mobility characteristics of origin and destination areas for job-to-job transitions between metros. Net Job Flows is caculated by aggregating job inflows (jobs gained from other metros) and job outflows (jobs lost to other metros) for each MSA Origin.
Source: U.S. Census Bureau, j2jexplorer.ces.census.gov
Monthly Job Postings
Monthly Job Postings
-Houston and Minneapolis consistently report the highest job postings, reflecting robust job markets and strong appeal to a large workforce In contrast, Charlotte and Tampa Bay rank lower, indicating fewer job postings or a less dynamic employment landscape during this period -Job postings in Tampa Bay have remained relatively stable, while other MSAs have experienced significant annual growth This trend has gradually diminished Tampa Bay's relative standing in the job market Its lowest rank, 18th, was recorded from September 2024 onward, while its highest position, 10th, was achieved in November 2023
• Houston and Minneapolis consistently show the highest job postings, reflecting strong job markets or their appeal to a large workforce. In contrast, Charlotte and Tampa Bay rank lower, indicating fewer job postings or less competitive markets during this period.
• Tampa Bay’s job postings have remained relatively stable, while other MSAs have seen significant growth over the year. This has led to a gradual decline in Tampa Bay’s competitiveness.
Monthly Job Postings
Trend Over Time
Position Trend
This indicator represents the number of monthly job postings found on the Adzuna job search engine across all available categories in each MSA. The measures are not seasonally adjusted. Sources: Adzuna Job Search Engine.
Average Monthly Salaries from Engineering Job Postings Adjusted
Salary for Engineering Job Postings
-San Diego and Jacksonville emerged as leaders, consistently ranking in the top spots by late 2024, driven by substantial salary growth On the other hand, Tampa Bay and Miami struggled with lower ranks, reflecting limited competitiveness despite some improvements in annual salaries
-Tampa Bay showed marginal improvement , climbing from Rank 20 in May 2024 to Rank 13 by October 2024 Despite gradual salary increases, Tampa continues to face challenges in matching the rapid growth and competitiveness of top-ranking MSAs
• San Diego and Jacksonville emerged as leaders, consistently ranking in the top spots by late 2024, driven by substantial salary growth. On the other hand, Tampa Bay and Miami struggled with lower ranks, reflecting limited competitiveness despite some improvements in annual salaries.
About: This dataset analyzes the Average Salary - Engineering trends across U S Metropolitan Statistical Areas (MSAs) from November 2023 to October 2024, comparing Tampa Bay's salary levels and competitive rank with other MSAs
Source: Adzuna Job Search Engine
• Tampa Bay showed marginal improvement, climbing from rank No. 20 in May 2024 to ranked 13th by October 2024. Despite gradual salary increases, Tampa continues to face challenges in matching the rapid growth and competitiveness of top-ranking MSAs.
Trend Over Time
This dataset analyzes the Average Salary - Engineering trends across U.S. Metropolitan Statistical Areas (MSAs) from November 2023 to October 2024, comparing Tampa Bay’s salary levels and competitive rank with other MSAs. Source: Adzuna job search engine.
Salaries from Health Care Job Postings
Average Salary Adjusted for Cost of Living for Health Care Jobs
• Austin consistently led in salaries, with a peak of $132,369 in October (ranked first), showcasing its strength in the health care sector. On the other hand, Miami consistently ranked lowest, highlighting challenges in salary marketability for professionals.
- Austin consistently led in salaries, with a peak of $132,369 in October (Rank 1), showcasing its strength in the health care sector On the other hand, Miami consistently ranked lowest, highlighting challenges in salary marketability for professionals - Tampa Bay's adjusted average health care salary fluctuated slightly, from $100,966 in August 2024 to $100,168 in September 2024, and then recovering to $102,391 in October Despite this recovery, its rank dropped from 13th in August to 15th in October, suggesting increasing competition from other MSAs
• Tampa Bay’s adjusted average health care salary fluctuated slightly, from $100,966 in August 2024 to $100,168 in September 2024, and then recovering to $102,391 in October. Despite this recovery, its rank dropped from 13th in August to 15th in October, suggesting increasing competition from other MSAs.
The indicator represents the mean salary for various roles in the health care sector, as advertised on Adzuna, divided by the Cost of Living Index. This indexed value helps to compare the relative salary of jobs across different regions by adjusting for variations in living costs, offering a more accurate picture of salary expectations and affordability in each location. Data for Houston was not available. Source: Adzuna job search engine.
Average Monthly Salaries from IT Job Postings Adjusted for Cost of Living
Salaries from IT Job Postings
- Tampa Bay's adjusted average IT salary showed a consistent upward trend over these months, rising from $72,046 in August 2024 to $75,346 in October 2024 Its rank improved from 4th in August to 2nd in both September and October, reflecting its strong competitiveness as a hub for IT professionals
- Minneapolis consistently offered the highest salaries, peaking at $80,121 in October 2024, indicating its dominance in the IT sector Conversely, Raleigh-Durham had the lowest salary in October at $54 203 underscoring less favorable opportunities for IT professionals
Adjusted for Cost of Living
• Tampa Bay’s adjusted average IT salary showed a consistent upward trend over these months, rising from $72,046 in August 2024 to $75,346 in October 2024. Its rank improved from fourth in August to second in both September and October, reflecting its strong competitiveness as a hub for IT professionals.
• Minneapolis consistently offered the highest salaries, peaking at $80,121 in October 2024, indicating its dominance in the IT sector. Conversely, Raleigh-Durham had the lowest salary in October at $54,203, underscoring less favorable opportunities for IT professionals.
The indicator represents the mean annual salary for various roles in the IT sector, as advertised on Adzuna job board, adjusted for variations in cost of living. Source: Adzuna job search engine.
Tampa Bay
Tampa Bay
International Migration Per Day
-Tampa Bay demonstrates consistent growth in migration per day, increasing steadily from 2019 to 2023 Despite this positive trend, Tampa Bay maintains a mid-range position compared to other MSAs
International Migration Per
Day
• Tampa Bay demonstrates consistent growth in migration, increasing steadily from 2019 to 2023. Despite this positive trend, Tampa Bay maintains a mid-range position compared to other MSAs.
• In terms of competitive positioning, Tampa Bay has remained relatively stable, ranking consistently between sixth and seventh place over the years. This stability highlights the region’s steady performance but also suggests limited progress relative to higher-ranking MSAs.
-In terms of competitive positioning, Tampa Bay has remained relatively stable, ranking consistently between 6th and 7th place over the years This stability highlights the re gion's steady performance but also suggests limited progress relative to higher-ranking MSAs -Other MSAs, such as Miami and Orlando, consistently outperform Tampa Bay, holding top-tier ranks with significantly higher migration per day While Tampa Bay has shown resilience, its slower pace of growth compared to these leaders indicates the need for strategic initiatives to enhance its competitiveness
About: Measures the International Migration in various MSAs
Source: U S Census Bureau
Year 2019 2021 2023
• Other MSAs, such as Miami and Orlando, consistently outperform Tampa Bay, holding top-tier ranks with significantly higher migration per day.
International Migration Per Day
Trend Over Time
Competitive Position Trend
Measures the International Migration in various MSAs.
