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Tampa Bay Partnership Releases First Tri-County “Housing Equation” Report to Address Affordability Crisis

Summary

On January 16, 2026 the Tampa Bay Partnership released “The Housing Equation” report, the region’s first comprehensive analysis of housing supply, demand and affordability across Hillsborough, Pinellas and Pasco Counties. Made possible with support from JPMorganChase and backed by independent research, this report delivers data-driven, actionable insights that empower investors, businesses, policymakers, developers, nonprofits, and the public to better understand the tri-county housing gap, enabling them to shape meaningful solutions.

Tampa, FL – January 16, 2026 – Today, the Tampa Bay Partnership released “The Housing Equation” report, the region’s first comprehensive analysis of housing supply, demand and affordability across Hillsborough, Pinellas and Pasco Counties. Made possible with support from JPMorganChase and backed by independent research, this report delivers data-driven, actionable insights that empower investors, businesses, policymakers, developers, nonprofits, and the public to better understand the tri-county housing gap, enabling them to shape meaningful solutions.

Tampa Bay is projected to add 564,000 residents and 211,000 households by 2035, a surge that will reshape housing needs. Yet, recent production hasn’t kept pace. The research shows that between 2018 and 2023, the region added nearly 100,000 households but built only 82,000 units, fueling rising costs and widening affordability gaps.

“Housing affordability affects every resident and employer in our region, making it one of the most urgent challenges we face together,” said Bemetra Simmons, President & CEO of the Tampa Bay Partnership.

Key findings from “The Housing Equation” include:

  • Existing gap: The region does not have enough homes priced affordably for households earning 80% of the Area Median Income (about $69,500 for a family of four) with an estimated shortage of 80,650 units.
  • Future demand: By 2035, the region needs to add approximately 254,700 new housing units, an average of 21,225 units per year, to keep pace with projected growth. That includes 10,685 single-family units and 10,540 multifamily units annually.
  • Cost burden: A third of all households—over 408,000 families—spend more than 30% of income on housing; 52% of renters are cost burdened, and 24% of homeowners.
  • Rising rents: Median rent surged 48% in five years, while wages rose only 29%.
  • Vanishing affordability: Homes under $200K made up 30% of sales in 2019 and dropped to just 5% in 2022.
  • Funding leverage: If addressed, $273M in gap funding can unlock $663M in additional funding and create $1B in economic impact for Tampa Bay.

“The Housing Equation” breaks down what’s needed by county, income level, and housing type, then points to proven strategies like zoning updates, creative financing, and advocacy that can drive long-term economic growth,” Simmons added. “Now that we have a clear understanding of how many units we need, we can create a comprehensive Regional Action Plan to meet that goal.”

“For the first time, leaders across Tampa Bay have access to precise data that can be used to create a strategic roadmap for solutions,” said Nikky Flores, Florida Region Manager for Middle Market Banking at JPMorganChase and Tampa Bay Partnership Board Chair. “We’re proud to invest in the data and tools that support this work because housing stability is the foundation for economic growth and opportunity. The evidence and the need is clear – now the community can come together to act on it.”

Read the full report at TampaBayPartnership.org/HousingEquation

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About the Tampa Bay Partnership 

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The Tampa Bay Partnership is a coalition of regional business and non-profit leaders that is joined by a shared commitment to improving Tampa Bay residents’ personal and economic well-being. Formally incorporated in 1994 and re-established in 2016 as a regional research and public policy organization, the Partnership works with the region’s top employers, along with a diverse group of government and non-profit partners, to identify and address the most pressing challenges facing our community, including transportation, education, workforce, housing affordability and other emerging issues.

For more information, please contact: 

Jessica Vega-Eugene 
JessicaV@ConsultVistra.com
813.263.0792
JessicaV@ConsultVistra.com

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The Tampa Bay Partnership is composed of a coalition that helps unite the collective voices and influence and hone in on a unified message to address regional challenges and achieve what no individual or organization can accomplish alone.

Media Contact:
Shannon Kalahar
skalahar@tampabay.org
727.741.5440

C.J. Mintrone

Regional President and Head of Corporate Banking, West Florida, PNC Bank

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C.J. Mintrone is regional president and head of Corporate Banking for PNC Bank in West Florida, responsible for overseeing all lines of business, sponsorships, philanthropic and branding efforts important to PNC’s strategy.
 
Mintrone was named regional president in July 2026 and brings more than 20 years of industry experience, including 15 years at PNC, to this role.
As executive vice president and head of Corporate Banking for West Florida, he leads a high-performing team delivering PNC’s comprehensive banking solutions to corporations with revenues exceeding $100 million. He is the national co-leader for PNC’s Corporate Sales Development (CSD) team,, where he drives sales strategy, marketing, and growth initiatives across PNC’s Corporate Banking markets nationwide.
 
Mintrone is active in the community and serves as a board member of Make-A-Wish Southern Florida, vice chair of the advisory board of Make-A-Wish Tampa Bay, and a board member of Junior Achievement Tampa Bay. He is also on the finance committee of Make-A-Wish Southern Florida. In addition, he serves on the executive advisory council for the University of South Florida Muma College of Business and on the Tampa Bay Partnership workforce board.
He graduated with a Bachelor of Science in Business Administration, with a specialty in finance (Cum Laude), from the University of Florida and is a graduate of Leadership Tampa (2013).