Developers in the Tampa Bay area have poured another 4,500 apartments onto the market since last spring, but apartment vacancy still dipped.

Vacancy declined from a recent high of 10 percent in May 2009 to 9.7 percent in November 2009, according to the firm Real Data. Average rent has dropped to $808 after peaking at $838 in May 2008.

The region now has 118,756 apartments. Most of the recent additions are condo buildings, such as the Element in downtown Tampa, that converted to rentals to wait out the housing slump.

Vacancies were highest in East Tampa and near the University of South Florida. Lower vacancies were reported in South Tampa, Carrollwood and St. Petersburg.