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Tampa Market Overview

Metro Population:

3.2 M

Median Household Income:

$60,100

Median Household Income:

5.40%

Median Home Price*:

$390,000

Median Monthly Rent*:

$2,500

Big Picture Highlights

Tampa, Florida is a thriving coastal city with a strong economy, a growing population, diverse cultural offerings, and access to outdoor recreation.


There's a Lot To Love About Tampa:

  • As of 2021, Tampa's GDP was approximately $146 billion, with a median household income of $60,100, a job growth rate of 2.2%, and an unemployment rate of 4.2%, while the city's cost of living is slightly below the national average.

  • The city is home to several major corporations and regional headquarters, including Raymond James Financial, Jabil, and Publix Super Markets, providing ample job opportunities.

  • The Port of Tampa is one of the largest seaports in the United States, serving as a major gateway for both domestic and international trade and contributing to the city's strong economy.

  • Why Invest Here?

    There are numerous benefits to purchasing real estate in Tampa, Florida. Firstly, the city boasts a strong and diverse economy, with opportunities in industries such as healthcare, finance, and tourism. This has led to a steadily growing population, creating a high demand for housing, and contributing to a healthy real estate market. Additionally, Tampa's warm and sunny climate, proximity to beaches and outdoor recreational activities, and vibrant cultural scene make it a desirable location for both residents and tourists. This has resulted in a robust rental market, making it an attractive option for real estate investors seeking a steady stream of rental income. Furthermore, Tampa's relatively affordable housing prices, compared to other major cities in Florida, make it an accessible market for first-time homebuyers or investors seeking entry-level properties. Overall, purchasing real estate in Tampa, Florida offers a combination of economic stability, quality of life, and investment potential.

    Trends

    TAMPA, FLORIDA

    REAL ESTATE MARKET STATISTICS

    AVERAGE HOME PRICE

    $390,000

    94%

    ABOVE

    NATIONAL AVERAGE

    NATIONAL AVERAGE $202,000

    AVERAGE MONTHLY RENT

    $2500

    75%

    ABOVE

    NATIONAL AVERAGE

    NATIONAL AVERAGE $1427

    1 YEAR EQUITY GROWTH

    42.00%

    162.5%

    FASTER

    NATIONAL AVG.

    NATIONAL AVERAGE 16%

    9 YEAR POPULATION GROWTH

    25%

    371%

    ABOVE

    NATIONAL AVG.

    NATIONAL AVERAGE 5.29%

    1 YEAR JOB GROWTH

    2.2%

    47%

    ABOVE

    NATIONAL AVG.

    NATIONAL AVERAGE 1.73%

    Tampa Trends & Statistics

    With higher real estate prices and lower-than-average job and population growth, the Windy City may not seem like your “typical” place to invest in real estate. However, it is one of the few cities in the nation where housing prices still haven’t risen above their 2006 levels. When focusing on finding the highest capital growth and cash flow, you’ll find some Chicago neighborhoods offer homes at $108,000-$130,000 with rents at 1.17% of the purchase price every month. All of this is good news for investors looking for under market value properties, with tremendous monthly cash flow, poised for steady appreciation.

    Data Sources:

  • https://www.rockethomes.com/real-estate-trends/fl/tampa

  • https://www.zillow.com/rental-manager/market-trends/tampa-fl/

  • https://factfinder.census.gov/

  • https://www.tampabaychamber.com/membership/partner/tampa-bay-business-journal-tbbj/

  • Employers

    Read What People are Saying About Tampa
  • #7 fastest-growing city in the United States, based on factors such as job growth, population growth, and GDP. - Forbes

  • #1 best city for veterans to live, based on factors such as healthcare, job opportunities, proximity to military bases, and quality of life. - Livability

  • #5 best large city to live in the United States, based on factors such as affordability, economy, education, quality of life, and health. - Wallet Hub

  • #10 best city to live in America, based on factors such as schools, crime rates, cost of living, and amenities. - Niche

  • Disclaimer: The information provided on this page is for educational purposes only. Altus IG makes no warranty or representation as to the accuracy, completeness or reliability of this information. Please be advised that this content may contain errors, is subject to revision at all times, and should not be relied upon for any purpose. Under no circumstances shall Altus IG be liable to you or anyone else for damage stemming from the use or misuse of this information.

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