Want to rent alone in Tampa Bay? Here's how much more you need to earn

If you’re looking to rent alone in the Tampa Bay area, you’ll need some extra income, a new report by RentCafe shows.

The study shows that nationally, 1 million more U.S. renters were living alone in 2021 than in 2016. That’s a 6.7% increase, making solo renters the fastest-growing renter demographic.

The data shows that Baby Boomers and millennials are the main demographic that have turned to solo renting, while a few Gen Zers opt to live independently. This is because living alone comes at a premium cost: To rent an apartment alone, a renter needs an extra annual income of $8,600 compared to the average renter.

In Tampa Bay, solo renters should budget more than $700 in extra monthly income compared to those living with roommates, which adds up to $8,400 yearly. According to the report, 16% of the renting population is renting solo within the metro.

This amount is smaller than in other Florida metros, such as Miami where renters must earn $1,036 more a month to live alone. However, it’s more expensive than other areas in the Sunshine State, like Gainesville and Pensacola.

Salt Lake City saw the biggest increase in the share of renters living alone between 2016 and 2021 among all metros analyzed — up by as much as 24.9% for a total of 50,265 renters.

The full report can be found here.