The Tampa real estate market has been the talk of the real estate town for as long as we can remember. So how has this U.S real estate market changed from 2017?
Here, we take a look at the comparison between the Tampa real estate market in 2017 versus the Tampa real estate market in 2018. In your real estate market research, the history of the US real estate market is just as important as the current real estate market trends. So, let’s get into it.
Tampa Real Estate- Job Opportunity
Job opportunity in a real estate market is considered one of the most important market factors. People go where the jobs are, and that is just the case with Tampa real estate.
Tampa Real Estate & Job Growth in 2017
In 2017, WalletHub considered Tampa the third best city to find a job in the nation. Thanks to the growing construction and education jobs offered, job openings were growing more and more in the sunny city.
With the number of job openings arising, it’s no wonder real estate investment opportunities are not the only opportunity out there. Start searching for some of those real estate investment opportunities here.
Tampa Real Estate & Job Growth in 2018
Tampa is not only one of the best cities to invest in real estate but also remains one of the best places to find a job. Job growth is at a steady pace of 2.1% per year. Unemployment is also down to 3.1%, lower than the national United States average of 4.1%. Job opportunity in the Tampa real estate market is steady and going.
Tampa Real Estate- Population
Population in Tampa Real Estate Market in 2017
With all the job opportunities we mentioned, it’s no surprise Tampa saw a jump in population as well. Retirees choose Tampa as their remote location to settle in, bringing more and more individuals to the area.
With an increase in population, real estate investors just like you were singing the money song. Why? With the increase in population came an increase in housing demand. You know who was supplying that demand? Real estate investors!
Population Growth of Tampa Real Estate Market in 2018
No decline in those population growth rates in 2018. Real estate investors are still singing the making money in real estate song, as the demand for housing is still being supplied by some of the most successful real estate investors.
The rate of return property investors calculate using a rental property calculator, like the one on Mashvisor, provides them with some good looking numbers. We’ll get more into the real estate analytics in a bit!
Tampa Real Estate- Median Investment Property Price
Median Property Prices of Tampa Real Estate 2017
This sunny city’s home prices were found to be less than the national listing price average. Why? Foreclosed homes were at an all-time high. However, these real estate property prices wouldn’t stay low forever. As predicted, prices arose in 2018.
Median Investment Property Prices in Tampa Real Estate 2018
As it came with no surprise, median property prices have indeed increased this year. Mashvisor’s investment property calculator reports the median house price of Tampa real estate is $368,521. A higher median investment property price does not stop Tampa real estate from being one of the best cities to invest in real estate.
Tampa Real Estate- Rate of Return
With the number of different types of real estate to choose from, it’s no wonder why Tampa is a real estate investing hotspot. From single family homes to short term Airbnb properties, the types of real estate investments to choose from are endless.
The plus side? Whether you choose a short term real estate investment (like vacation rental homes) or long term residential properties, both will yield some serious return on investment rates. Choose whatever rental strategies you want, the cash flow will be coming your way.
The Rate of Return of Tampa Real Estate 2017
Real estate investors can agree that rate of return is one deciding factor of whether you have found the most profitable investments or not. Return on investment rates in 2017 were looking good, and real estate investors were yet again singing the cash flow song of real estate. However, did those rate of return numbers live up in 2018?
The Rate of Return of Tampa Real Estate 2018
Generally speaking, the rate of return has been pretty consistent throughout 2017 to 2018. Mashvisor’s real estate analysis software reported the average rate of return rates as follows:
Traditional Cash on Cash Return: 1.62%
Airbnb Cash on Cash Return: 2.03%
Keep Note: This is an average of all real estate investment properties in the Tampa real estate market. Each individual real estate investment property has a cash on cash rate of its own. Some individual real estate investments have a return on investment as high as 20%! That is why using a real estate investment calculator is so crucial.
Tips for Investing in Tampa Real Estate 2018
Do you like what you see so far? Are you interested in investing in the Tampa real estate market 2018? Here are a few tips we want to share with you if you do!
Invest in the Top Tampa Real Estate Neighborhoods
You want to invest in the best neighborhoods in Tampa to assure you are getting your money’s worth. These are the best neighborhoods in Tampa:
- Courier City
- Seminole Heights
- Tampa International Airport Area
- Tampa Heights
- Historic Ybor
- Old Seminole Heights
- South Seminole Heights
- Davis Island
Read More About These Neighborhoods: Best Places to Buy Property for Investing in the Tampa Real Estate Market 2018
To start looking for and analyzing the best investment properties in your city and neighborhood of choice, click here.
Choose the Best Real Estate Investment Strategies
Smart investment strategies open doors to more success in real estate investing. Single family homes are known to be one of the top performing long term rental properties in Tampa real estate. Investing in short term rentals through Airbnb is another investment strategy to explore in Tampa real estate. With rental income reaching as high as $2,791 per month, Airbnb is most definitely one of the real estate investment strategies to look into.
Why Tampa is Your Next Move: Top 5 Reasons to Invest in Tampa Real Estate
Use an Investment Property Calculator
Real estate investment tools exist for a reason! To help you as a real estate investor and give you the confidence you need to buy investment properties. Use a rental property calculator like the one on Mashvisor to individually analyze the real estate investments you have in mind. You may just find the most profitable investments in the Tampa real estate market.
All Done with Tampa Real Estate
Getting to know the real estate market trends associated with U.S. housing markets gives you an advantage as a real estate investor. How? You start gaining the insight for how well U.S. real estate markets tend to perform. The more time that passes, the more accurate your own predictions will be.
We know you will not be a fortune teller. Realistically, no one surely knows how a rental property market like the Tampa real estate market, will do. However, getting to know the Tampa real estate market’s reputation gives you a good idea. So, there you have it. The comparison between Tampa real estate in 2018 and Tampa real estate in 2017. Will you be investing in Tampa real estate? Let us know down below!