Income Strength & Renter Depth
St. Petersburg's downtown and urban-core submarkets contain a large and accelerating base of high-earning renter-by-choice households, supporting the Project's Class A rent positioning without dependence on future demographic shifts.
The area surrounding Gallery Haus has a substantial concentration of households earning well above the levels typically associated with stabilized Class A multifamily. Within a short radius of the site, more than 36,000 households earn $120,000+ annually — comfortably supporting monthly rents at the Project's ~$3,585 target. Income growth and demographic turnover in downtown St. Petersburg continue to expand this upper-income cohort each year.
Upper-income households represent one of the fastest-growing segments of the St. Petersburg urban core. These renters-by-choice increasingly prioritize walkability, amenitized living, and modern construction — creating a broad, resilient base of demand for high-quality multifamily assets.
Over 83,000 residents within the surrounding trade area fall into income brackets typically associated with top-tier Class A multifamily demand. This provides a deep, diverse, and economically stable renter pool for the Project. Continued in-migration of high-wage talent, strong employment in medical, tech, finance, and remote-work sectors, and rising educational attainment all reinforce the durability of the Project's demand profile.
| Location | St. Petersburg city, Florida |
| Total Population | 259,343 |
| Male Population | 125,050 (48.2%) |
| Female Population | 134,293 (51.8%) |
| Total Households | 113,817 |
| Family Households | 58,654 |
| Non-Family Households | 55,163 |
| Owner-Occupied Units | 71,247 |
| Renter-Occupied Units | 42,570 (37.4%) |
| Median Household Income | $70,333 |
| Per Capita Income | $46,755 |
| Median Home Value | $289,000 |
| Median Rent | $1,410 |
| Bachelor's Degree or Higher | 79,648 (40.6%) |
| Work From Home | 21,226 (15.7%) |
The analysis geocodes the 200 largest employers in St. Petersburg and quantifies employment centers within Gallery Haus's immediate trade area. Dozens of major employers across healthcare, education, government, and corporate sectors fall within a 3-5 mile commute radius.
PSTA bus network provides extensive coverage within a 3-mile radius of Gallery Haus. Multiple routes and stops within walking/biking distance enable car-optional living—an increasingly valued amenity for urban Class A renters.
With a median household income of $70,333 and per capita income of $46,755 at the city level, St. Petersburg supports premium Class A multifamily rents and attracts higher-earning renter-by-choice households. Gallery Haus is specifically oriented toward the 36,000+ households earning $120,000+ highlighted at the top of this page.
40.6% of residents (age 25+) hold a bachelor's degree or higher, indicating a sophisticated, white-collar demographic aligned with Gallery Haus's amenitized, design-forward offering.
A 37.4% renter-occupied rate creates a substantial, existing rental market while leaving room for continued absorption of new Class A product.
15.7% of residents work from home, supporting demand for coworking, flexible amenity spaces, and daytime activation within the building.
Citywide median rent of $1,410 reflects the full universe of older and lower-amenity housing stock. Gallery Haus is intentionally positioned at the top of the market for high-income households, with rents anchored to the 36,000+ $120K+ households identified above rather than to the overall median.