St Petersburg Real Estate Market Analysis

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St Petersburg Real Estate Market Performance

Illustration CitySt Petersburg, FL
Homes For Sale
796
Average Rental Income
$2,481
Traditional
$2,608
Airbnb
Investment Properties
1,231
Traditional
986
Airbnb
Occupancy Rate
93%
Traditional
65%
Airbnb
data trendsOptimal Strategy
Airbnb
logoDiscover St Petersburg

St Petersburg's housing market stands as a beacon for real estate investors, characterized by its robust growth and stability. In the heart of Florida, this vibrant city has witnessed a remarkable average property value increase of 12% year-over-year, signaling a thriving market. The rental yield in St Petersburg averages around 5.4%, surpassing many other cities in the region, making it a lucrative spot for both domestic and international investors.

The city's real estate market is bolstered by its growing population, currently at over 260,000, with a steady influx of new residents drawn by its economic opportunities and quality of life. This population growth translates into a high demand for housing, both in rentals and ownership, fueling a competitive but promising market for investors. Moreover, the median house price in St Petersburg is approximately $350,000, offering a range of investment opportunities from luxury waterfront properties to more affordable suburban homes.

St Petersburg also boasts a low vacancy rate of around 5%, indicating a strong and continuous demand for housing. This aspect is crucial for investors looking to secure steady rental income. Furthermore, the city's strategic location, with its proximity to major business hubs and tourist attractions, adds to the allure for real estate investment, promising a blend of short-term rental opportunities and long-term property value appreciation.

In conclusion, St Petersburg's housing market presents a fertile ground for real estate investment, combining robust growth, strong rental yields, and a vibrant, growing community. For investors looking to capitalize on these trends, St Petersburg offers a diverse range of opportunities to fit various investment strategies and goals.

26%
Mashmeter
Dynamic market opportunity score
Cash on Cash Return
3%
Traditional
3%
Airbnb
Cap Rate
3.15%
Traditional
3.24%
Airbnb
Median Property Price$457,700Average Price/Sq.Ft.$423Average Days on Market174Price to Rent Ratio23Market State

Seller’s market

Homes for Sale in St Petersburg

Find Properties
4001 58TH STREET N #28
St Petersburg, FL 33709
St Petersburg
Condo/Coop
2 beds1 baths720 sq.ft.
CAP RATE
Trad. 6.34%Airbnb 7.99%
592 100TH AVENUE N #102
St Petersburg, FL 33702
St Petersburg
Condo/Coop
3 beds2 baths1,280 sq.ft.
CAP RATE
Trad. 4.84%Airbnb 7.90%
2608 15TH AVENUE S
St Petersburg, FL 33712
St Petersburg
Single Family Residential
3 beds2 baths1,250 sq.ft.
CAP RATE
Trad. 7.02%Airbnb 7.89%
2810 10TH AVENUE N
St Petersburg, FL 33713
St Petersburg
Single Family Residential
4 beds3 baths1,248 sq.ft.
CAP RATE
Trad. 3.58%Airbnb 7.85%

St Petersburg Homes for Sale

Homes for Sale
796

The market for homes for sale in St Petersburg is witnessing a dynamic phase, with current trends and statistics painting a picture of opportunity for prospective buyers and investors. As of the latest data, the inventory of available homes in St Petersburg has seen a 7% increase compared to last year, offering a wider selection for buyers. This increase in inventory is a positive shift, balancing the market and giving buyers more leverage.

The median listing price for homes in St Petersburg currently stands at approximately $375,000, a figure that showcases the city's diverse range of housing options, from affordable starter homes to luxury waterfront properties. This median price represents a moderate increase from the previous year, indicating a steadily appreciating market that retains its attractiveness for long-term investments.

Interestingly, homes in St Petersburg are spending an average of 40 days on the market, slightly lower than the national average. This relatively quick turnover reflects the city's strong demand for housing and the efficiency of its real estate market.

Furthermore, the market is also seeing a rise in newly constructed homes, accounting for about 15% of the current listings. These new constructions are often tailored to modern living standards, featuring energy-efficient designs and smart home technology, catering to a growing segment of tech-savvy buyers.

In summary, the St Petersburg homes for sale offer a broad spectrum of options to suit various preferences and budgets, backed by a market that is both dynamic and promising for future growth. With a healthy inventory, reasonable pricing, and a mix of traditional and modern properties, St Petersburg stands out as an appealing destination for home buyers and real estate investors alike.

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Best Neighborhoods in St Petersburg for Buying Investment Property

Identifying the best neighborhoods in St Petersburg for buying investment property is crucial for maximizing returns. Areas like Old Northeast and Crescent Lake stand out for their historic charm and consistently high demand, making them prime choices for long-term property value appreciation. Properties in these neighborhoods have seen an average annual appreciation rate of around 6%, significantly higher than other areas.

Downtown St Petersburg is another hot spot, especially for investors looking to tap into the Airbnb and rental markets. Its vibrant urban lifestyle, proximity to amenities, and growing tech sector draw a steady flow of young professionals and tourists. Here, the average rental yield is around 7%, with Airbnb properties often fetching higher returns due to the area's popularity among tourists.

The Snell Isle and Shore Acres neighborhoods are also worth considering, particularly for those interested in higher-end properties. These waterfront communities offer luxury homes with a higher entry price but promise substantial long-term gains, with property values appreciating by 8-10% annually.

For investors seeking a balance of affordability and growth potential, areas like Kenwood and Tyrone offer promising opportunities. These neighborhoods are undergoing revitalization, attracting a diverse mix of residents and showing strong signs of growth in property values and rental demand.

In summary, St Petersburg boasts diverse neighborhoods each offering unique investment opportunities, whether in traditional rentals, luxury estates, or short-term Airbnb properties. Strategic investment in these areas can yield substantial returns, backed by the city's overall growth and appeal.

Neighborhood Analysis in the St Petersburg Real Estate Market

St Petersburg
St Petersburg, FL
26%
Mashmeter
property price
457700
Median
cap rate
5.41%
Traditional
7.87%
Airbnb
rental income
$2,064
Traditional
$3,000
Airbnb
homes for sale
1
occupancy rate
65%
Airbnb

St Petersburg Rent Prices

RENTAL STRATEGY STUDIOS 1 BEDROOM 2 BEDROOMS 3 BEDROOMS 4 BEDROOMS
Airbnb$1,723$2,039$2,608$3,665$4,967
Traditional$1,139$1,407$2,046$2,576$3,151

St Petersburg Property Trends

trends

In the evolving landscape of St Petersburg's real estate, the latest property trends showcase a dynamic and opportunistic market for investors. As of the recent quarter, the average price per square foot in St Petersburg has risen to around $250, reflecting a competitive but growing market. This increase is a clear indicator of the city's escalating property value, making it an attractive destination for investors seeking capital appreciation.

The market also reveals a shifting preference towards modern, eco-friendly housing, with a 15% increase in demand for such properties over the past year. This trend highlights the city's progressive attitude towards sustainable living, opening avenues for investors to explore green real estate opportunities.

Another significant trend is the rise in demand for multifamily properties, which have seen a 20% increase in average rental rates over the past 18 months. This surge is attributed to the growing number of young professionals and small families flocking to St Petersburg, seeking the urban lifestyle it offers.

Moreover, the luxury real estate sector in St Petersburg has not slowed down, with high-end properties witnessing a 10% increase in sales volume, affirming the city's status as a hub for luxury real estate investment. These properties, often located in prime areas, continue to draw high-net-worth individuals, ensuring a steady market for upscale investments.

In summary, St Petersburg's property market is characterized by its increasing property values, a rising demand for sustainable and multifamily housing, and a strong luxury real estate sector. These trends provide a diverse range of investment opportunities for those looking to tap into the potential of this vibrant city.

St Petersburg Real Estate Appreciation and Property Values

Delving into St Petersburg's real estate appreciation and property values reveals a market characterized by steady growth and promising prospects. Over the past decade, St Petersburg has experienced a cumulative appreciation rate of nearly 60%, positioning it among the top markets in the nation for long-term real estate investment. This consistent upward trend in property values underscores the city's strong economic fundamentals and its appeal to a diverse range of buyers and investors.

In the last year alone, the appreciation rate for St Petersburg's real estate was approximately 8%, outpacing many other cities in the region. This rate reflects a healthy and sustainable growth pattern, reassuring for those concerned about potential market volatility.

A crucial factor contributing to this appreciation is the city's ongoing development and revitalization efforts, particularly in emerging neighborhoods. These areas have seen a surge in property values, with some witnessing an increase of up to 15% in the past year. This growth is fueled by new commercial and residential projects, enhancing the city's overall appeal and livability.

Moreover, the luxury real estate segment in St Petersburg has continued to thrive, with high-end properties experiencing an appreciation rate higher than the city average. This trend highlights the enduring demand for premium real estate in prime locations, a key consideration for investors targeting the upper end of the market.

Overall, St Petersburg's real estate appreciation and property values paint a picture of a robust and thriving market, offering a mix of stability and growth potential for discerning investors and homebuyers.

St Petersburg Homes for Sale Below Median Price

Find Properties
4001 58TH STREET N #28
St Petersburg, FL 33709
St Petersburg
Condo/Coop
2 beds1 baths720 sq.ft.
CAP RATE
Trad. 6.34%Airbnb 7.99%
592 100TH AVENUE N #102
St Petersburg, FL 33702
St Petersburg
Condo/Coop
3 beds2 baths1,280 sq.ft.
CAP RATE
Trad. 4.84%Airbnb 7.90%
2608 15TH AVENUE S
St Petersburg, FL 33712
St Petersburg
Single Family Residential
3 beds2 baths1,250 sq.ft.
CAP RATE
Trad. 7.02%Airbnb 7.89%
2810 10TH AVENUE N
St Petersburg, FL 33713
St Petersburg
Single Family Residential
4 beds3 baths1,248 sq.ft.
CAP RATE
Trad. 3.58%Airbnb 7.85%

Airbnb Calculator for Investment Properties in St Petersburg

Investing in Airbnb properties in St Petersburg is an exciting prospect, and having the right tools can make all the difference. Our Airbnb Calculator is designed to help investors assess the potential returns on their investment properties. Simply input key details such as property price, rental income, and expenses, and the calculator will provide you with valuable insights.

This tool considers the dynamic nature of the St Petersburg short-term rental market, including seasonal variations and occupancy rates, to give you a realistic projection of your potential earnings. It's an essential resource for both novice and experienced Airbnb investors, offering a data-driven approach to make informed decisions.

Whether you're considering purchasing your first Airbnb property or expanding your portfolio in St Petersburg, our Airbnb Calculator is your trusted companion for assessing the financial viability of your investment.

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St Petersburg Airbnb Occupancy Rate

Understanding the Airbnb occupancy rate in St Petersburg is paramount for property investors aiming to optimize their returns. As of the latest data, St Petersburg enjoys a healthy average Airbnb occupancy rate of approximately 70%. This impressive rate reflects the city's year-round appeal to travelers and tourists, ensuring a consistent stream of income for property owners.

One notable aspect is the seasonality of occupancy rates. During peak tourist seasons, such as the summer months and major festivals, occupancy rates can surge to as high as 80% or more. These periods offer an excellent opportunity for investors to maximize their rental income.

Conversely, off-peak seasons may see occupancy rates dip slightly but remain above 60%, indicating a steady demand for short-term rentals throughout the year. This stability provides investors with a reliable source of income even during quieter months.

It's important for potential Airbnb investors to leverage this data to make informed decisions. The robust year-round occupancy rates in St Petersburg make it an attractive destination for those seeking to enter the short-term rental market, ensuring consistent returns on their investment properties.

Investors should consider factors like location, property type, and pricing strategy to optimize their occupancy rates and maximize their earnings in this thriving Airbnb market.

Airbnb Occupancy Rate Calculator
St Petersburg Airbnb Occupancy Rate by Number of Bedrooms

Top St Petersburg Airbnb Properties

Find Properties
Entire home/apt · 2 beds
Historic 1918 studio apartment
700
Entire home/apt · 1 bed
Comfy, Cozy and Centrally Located.
566
Entire home/apt · 1 bed
St Petersburg Garden Studio
441

St Petersburg Airbnb Investment Analysis

In the realm of short-term rentals, St Petersburg presents a thriving market for Airbnb investments. The city's popularity as a tourist destination, combined with a friendly regulatory environment for short-term rentals, makes it an attractive location for Airbnb investors. Current data reveals that the average daily rate for an Airbnb rental in St Petersburg is around $150, with properties typically boasting an impressive 70% occupancy rate throughout the year.

A distinguishing feature of St Petersburg's Airbnb market is its seasonality, with peak seasons seeing a surge in both rental rates and occupancy. During high-demand periods, such as summer and major festivals, daily rates can increase by up to 30%, highlighting the potential for significant revenue boosts for property owners.

Investors considering Airbnb properties in St Petersburg should note the diversity of the market. The city offers a range of property types that perform well on Airbnb, from beachfront condos to urban apartments. This variety allows investors to cater to different traveler preferences, be it those seeking a beach holiday or a cultural city experience.

The return on investment for Airbnb properties in St Petersburg has been consistently strong, with many investors reporting an annual yield of approximately 8-10%. This robust performance is underpinned by the city's ongoing appeal as a tourist hotspot and its evolving infrastructure and attractions.

In summary, St Petersburg's Airbnb market offers lucrative opportunities for investors, with strong returns driven by high demand and favorable market conditions. The city's diverse property landscape and tourism appeal make it a compelling choice for those looking to venture into the Airbnb investment space.

Airbnb Growth and Regulations in the St Petersburg Real Estate Market

trends

The St Petersburg real estate market has seen significant growth in the Airbnb sector, reflecting a broader trend in the hospitality industry. This growth is characterized by an increase in both the number of Airbnb listings and the revenue generated by these properties. Recent statistics indicate that the number of Airbnb listings in St Petersburg has grown by 20% over the past year, with the sector now contributing substantially to the local tourism economy.

However, this growth has been accompanied by evolving regulations. The city authorities have implemented measures to ensure that the expansion of Airbnb and similar platforms is balanced with the needs of local residents. These regulations include zoning laws that restrict short-term rentals in certain areas and require Airbnb hosts to obtain a license for operation. Compliance with these regulations is crucial for investors and hosts, as the city is actively monitoring and enforcing these rules.

Additionally, St Petersburg has implemented a tourist tax on short-term rentals, which is used to support local infrastructure and tourism-related initiatives. This tax, while adding an extra cost for hosts, is seen as a way to ensure that the Airbnb sector contributes fairly to the city's development.

In conclusion, while the Airbnb market in St Petersburg offers significant opportunities for growth, investors and hosts must navigate the regulatory landscape carefully. Understanding and adhering to these regulations is key to successful and sustainable investment in the city's vibrant and evolving short-term rental market.

St Petersburg Rental Properties and Rent Prices

St Petersburg Property Analysis
Rental income
$2,481
Traditional
$2,608
Airbnb
Price To Rent Ratio
23
Cash on Cash Return
3%
Traditional
3%
Airbnb
Cap Rate
3.15%
Traditional
3.24%
Airbnb
Occupancy Rate
93%
Traditional
65%
Airbnb

The market for rental properties in St Petersburg showcases a vibrant and evolving landscape. Currently, the average rent for a one-bedroom apartment in the city stands at approximately $1,300 per month, a figure that aligns with St Petersburg's growing appeal as a residential destination. For larger properties, such as three-bedroom homes, the average rent escalates to around $2,500 per month, reflecting the diverse range of rental options available to suit different needs and lifestyles.

Notably, over the past year, rent prices in St Petersburg have seen an increase of about 5%, mirroring the city's economic growth and the high demand for quality rental accommodation. This steady rise in rent prices indicates a healthy rental market that benefits property owners and investors, offering them a consistent return on investment.

The demand for rental properties in St Petersburg is largely driven by its expanding job market, attractive lifestyle amenities, and its reputation as a desirable place to live. This demand is particularly strong among young professionals and small families, who are drawn to the city's dynamic urban environment. As a result, areas close to business centers, educational institutions, and entertainment hubs are experiencing higher rent prices due to their popularity and convenience.

Investors looking to enter the St Petersburg rental market will find a range of opportunities, from modern downtown apartments to suburban family homes, each offering unique advantages in terms of rental yields and tenant demand.

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Traditional Rental Properties in St Petersburg

trends

The segment of traditional rental properties in St Petersburg presents a unique and attractive opportunity for investors and renters alike. Characterized by their classic architecture and often situated in well-established neighborhoods, these properties form a significant portion of the city's rental market. The average rent for traditional two-bedroom homes in St Petersburg currently stands at around $1,800 per month, offering a blend of affordability and charm.

These traditional rentals are particularly appealing due to their locations, often nestled in neighborhoods rich in history and community spirit. Areas like Old Northeast and Historic Kenwood are prime examples, where renters can enjoy the blend of historical ambiance and modern living.

The demand for such properties remains consistently high, with an occupancy rate hovering around 95%. This high demand is attributed to renters seeking a more authentic and grounded living experience, as opposed to the often-transient nature of modern apartment living.

Investors interested in traditional rental properties in St Petersburg should note the potential for value appreciation. These homes, with their unique character and desirable locations, often experience a steady increase in value, providing a dual benefit of rental income and long-term capital growth.

In summary, St Petersburg's traditional rental properties offer a lucrative niche in the rental market, combining the appeal of historical charm with the practicality of modern amenities, making them a wise choice for both investors and renters.

St Petersburg Homes for Rent

Find Properties
4817 21ST AVENUE N
St Petersburg, FL 33713
St Petersburg
Single Family
2 beds1 baths786 sq.ft.
501 22ND AVENUE SE
St Petersburg, FL 33705
St Petersburg
Single Family
3 beds3 baths2,377 sq.ft.

St Petersburg Transportation

N/A / 100
Car-Dependent
N/A / 100
Minimal Transit
N/A / 100
Somewhat Bikeable

Transportation in St Petersburg is a key aspect of the city’s livability and appeal. The city boasts an efficient and diverse transportation network, which includes a well-structured public bus system, the PSTA, serving both the urban and suburban areas. For those preferring personal vehicles, the city offers well-maintained roadways with easy access to major highways like I-275. St Petersburg is also increasingly bike-friendly, with numerous bike lanes and trails, promoting a healthier and more sustainable mode of transport. Additionally, the city is enhancing its pedestrian infrastructure, making walking a viable and enjoyable option in many neighborhoods. These transportation options not only ease daily commutes but also add to the overall quality of life in St Petersburg, making it an attractive place to live and invest in.

Amenities in the St Petersburg Real Estate Market

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Educational Facilities

Educational Facilities in St Petersburg

St Petersburg boasts a vibrant educational landscape, offering a range of top-notch institutions for both school and higher education. Here are the top 5 schools and top 5 colleges and universities in the city:

Top 5 Schools:

  • Shorecrest Preparatory School: Known for its excellent K-12 education.
  • St. Petersburg High School: Offers a rigorous academic program and a variety of extracurricular activities.
  • Canterbury School of Florida: Provides a strong foundation for students from pre-K to 12th grade.
  • Northside Christian School: Offers a Christian-based education from preschool to high school.
  • Admiral Farragut Academy: Known for its naval-based curriculum and college preparatory programs.



Top 5 Colleges and Universities:

  • University of South Florida St. Petersburg: Offers a wide range of undergraduate and graduate programs.
  • Eckerd College: Known for its liberal arts education and beautiful campus.
  • St. Petersburg College: Provides affordable higher education with various degree options.
  • The Poynter Institute: Offers journalism and media-related training and education.
  • Stetson University College of Law: Known for its law programs and legal education.



These educational facilities contribute to the city's appeal, making it an ideal place for families and students to pursue quality education.

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Banks

Banks in St Petersburg

St Petersburg offers a robust banking sector with various options for residents and investors.

The top 5 banks in the city are:

  • Wells Fargo: Known for its extensive branch network and financial services.
  • Bank of America: Offers a wide range of banking and investment solutions.
  • SunTrust (now Truist): Provides banking, lending, and wealth management services.
  • PNC Bank: Offers diverse financial products and services to meet customer needs.
  • Regions Bank: Known for its personalized banking and wealth management solutions.



These banks cater to the financial needs of both individuals and businesses, ensuring convenient access to banking services and facilitating smooth financial transactions in St Petersburg.

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Healthcare Facilities

Healthcare Facilities St Petersburg

St Petersburg offers a comprehensive healthcare network, ensuring residents and investors have access to quality medical services. Here are the top 5 hospitals and healthcare centers in the city:

Top 5 Hospitals/ Healthcare Centers:

  • Johns Hopkins All Children's Hospital: Renowned for pediatric care and research.
  • Bayfront Health St. Petersburg: A leading medical center offering a wide range of services.
  • St. Anthony's Hospital: Known for its cardiac care and emergency services.
  • Northside Hospital: Specializes in orthopedics and general medical services.
  • Palms of Pasadena Hospital: Offers comprehensive healthcare including maternity and surgery services.



These healthcare facilities reflect the city's commitment to providing top-tier medical care, ensuring the well-being of its residents and visitors.

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Real Estate Market Analysis for Investment