TAMPA, Fla. — We've been seeing it for years — the cost of living in Florida has ballooned, just as the state's population continues to grow, too. The result of that growth has affected rent prices.

While asking rents are falling in most U.S. cities, Tampa Bay renters are paying more than they did last year, according to Redfin.

Quinn Residences has nabbed $108.6 million of construction financing to develop two rental communities in suburban areas outside Tampa, Fla., Commercial Observer has learned. “This transaction ...