- Jun 23
- 4 min read
For the first time ever, housing production in St. Petersburg has outpaced demand, according to a report by the City of St. Petersburg. However, much of the city’s workforce cannot afford market-rate prices.
Municipal programs have helped 27,806 residents afford or remain in their homes since 2020. St. Petersburg has also seen a sharp spike in investor-owned properties, and property tax reform could kill many of the most successful housing initiatives.
An annual update on the city of St. Petersburg’s Housing Opportunities for All plan, presented to city council members on June 11, highlighted those dichotomies. Amy Foster, housing and neighborhood services administrator, began and ended her presentation on a positive note.
“I know, as council members, sometimes it’s hard to quantify the work of your policies and investments,” Foster said. “These outcomes didn’t happen overnight, but at the halfway point, I can confidently say that you and Mayor (Ken) Welch are making a difference.”
The city’s 10-year housing strategy began in 2020. Welch expanded and updated the initiative under the Housing Opportunities for All banner in 2023.
St. Petersburg, under a “strong growth scenario,” needed approximately 1,500 new housing units in 2025 to meet demand, Foster said. The city added 2,088, thanks to robust private sector development and municipal efforts, which supported 458 new affordable and workforce units.
Demolitions jumped from 243 to 622 in 2025 following an unprecedented hurricane season. The city also saw a 39% increase in housing production, “and for the first time ever, we’ve built more than that demand,” Foster said.
She noted that 62% of residents own homes, and values typically range between $300,000 and $500,000. The median rent cost decreased slightly in 2025 to $1,805.
Eviction rates remain well below the city’s baseline, established after pandemic-era protections expired. However, someone earning minimum wage - $14 an hour - must work over 90 hours weekly to afford a modest one-bedroom, market-rate rental, according to the National Low Income Housing Coalition (NLIHC).
Councilmember Mike Harting said someone earning $24 an hour would still fall below the area median income. “That is the perspective that this body needs for making decisions as you come and talk to us in the future.”
“The number of families your department touches is bigger and more complex than we realize,” Harting said of Foster’s affordable housing efforts.
The city, as expected, has seen an influx of investors buying damaged homes in areas affected by Hurricanes Helene and Milton, Foster said. A heat map also shows a high concentration of company-owned properties throughout a wide swath of South St. Petersburg.
“One of the issues that we’ve found in Childs Park, and I’m sure the issue is happening all over South St. Pete, is that a lot of these generational homes are being sold,” said Councilmember Corey Givens Jr. “A lot of them are going into probate (court) and being taken, and a lot of this is an issue that I think we as a city can help fix.”
Foster said the South St. Pete Community Redevelopment Area (CRA) funds a program that helps families navigate the probate process - used to validate a deceased person's will, pay off their remaining debts and taxes, and distribute their assets to rightful beneficiaries. She believes the initiative is underutilized.
Givens said some communities “have a hard time trusting government, especially when it comes to things like properties being taken.” He offered to help Foster’s team refine their outreach approach.
The potential loss of property tax revenue, which supports CRAs, is a major concern. Foster emphasized the outsized impact the governor’s proposal, if approved by voters in November, would have on South St. Pete.
“The number of homeowners assisted in the CRA alone almost matches the number of homeowners assisted citywide,” she explained. “These outcomes will be decimated.”
Givens said many seniors, who can no longer afford to live in their homes, are “excited to see property taxes go away.” City officials must help residents understand the unintended consequences, he added.
St. Petersburg has helped build and preserve 1,248 affordable and workforce housing units since 2020. Another 3,186 are in the construction pipeline. Foster said the majority are new, “and only 15% are preserved.”
She noted that 71% of those units are for households earning up to 80% of the area median income (AMI). Foster also expressed confidence in the city achieving its ambitious housing goals by 2030, despite Welch raising the bar significantly in 2023.
“When I see this, I see not just progress and great numbers, I see people who are just kicking ass right now with our housing challenges,” said Councilmember Gina Driscoll.
Driscoll credited Foster’s administration for identifying new housing opportunities, preserving existing homes, and helping residents solve “at-the-moment problems.” She also believes city officials and stakeholders must do more to mitigate the discrepancy between local wages and living costs.
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