At 4.2%, the vacancy rate for the Tampa Bay apartment market in the first quarter of 2017 was up 20 basis points for the period following a gain of just 20 points all told last year. April closed with vacancy at 4.4%. Rent growth is slowing. At $1,028 and $987 per month, first quarter asking and effective averages were up 1.1% and 0.9% for the period following increases of 5.0% each all told last year. April followed with increases of 0.5% asking and 0.3% effective.