Tampa Real Estate Market Analysis

Houses for Sale in Tampa

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Tampa is a major city located on the West Coast of the state of Florida near the Gulf of Mexico on Tampa Bay. With a population of nearly 392,890 people, it is the largest city in the Tampa Bay Area and the third most populous city in Florida after Jacksonville and Miami. The Tampa Bay Area, also known as the Tampa-St. Petersburg-Clearwater Metropolitan Statistical Area, is a large metropolitan area encompassing Tampa City and the nearby cities of St. Petersburg and Clearwater, with over 3.1 million residents. This makes it the fourth largest metro area in the Southeastern U.S. after Miami, Washington, D.C., and Atlanta. 

The Tampa real estate market benefits from the fact that Tampa is one of the fastest growing cities in the U.S. (as reported by Forbes), with a population growth rate well above the national growth rate. This growth is especially due to the strong annual net migration over the past five years. Additionally, more than half of the population (53% according to NeighborhoodScout) are renters rather than homeowners, meaning that Tampa rental properties enjoy particularly high demand.

Tampa is the industrial, commercial, and financial hub of Florida’s West Coast. While the city is best known for its beaches and tourist attractions, such as Busch Gardens, it is not only a center for tourism; Tampa also enjoys a diversified economic base that includes finance, health care, insurance, retail, technology, construction, and maritime industry. Large corporations such as banks and telecommunication companies have regional offices in the city. A number of Fortune 1000 companies are headquartered in the metropolitan area, with Publix Super Markets being the largest employer in Tampa Bay. Tampa is witnessing an influx of young and highly educated people owing to the growth in employment opportunities; most of them seek to live close to their place of work. This is particularly beneficial to those considering to invest in the Tampa real estate market, especially when it comes to traditional rental properties. Tampa is a decidedly white collar city with an employment growth rate well above the national rate. The Tampa housing market is also boosted by the numerous residential and commercial development projects being built in Downtown Tampa and in the suburbs. 


For the first time in forty years, the Tampa real estate market made it into the Top 10 U.S. Markets to Watch rankings by PWC in its annual Emerging Trends in Real Estate: United States and Canada 2019 report. It was noted that Tampa is particularly attractive to real estate investors for its demographic growth, friendly business climate, and attractive cost structure.

Tampa  Real Estate Investment Performance

Facts and Market Trends in Tampa
Homes For Sale1,926
Airbnb Properties3,226
Rental Properties2,667
Traditional Vacancy rate6.60%
Airbnb Occupancy Rate55.77%
Mashmeter32.12%
Median Price$485,000
Median Rent Price$2,941
Price/sqft$580
Median Days on Market89
Price to Rent Ratio21.3
Average Cap Rate
Airbnb3.50%
Traditional4.52%
Average Rental Income
Airbnb$2,855
Traditional$2,474
 
Median Household Income$59,893
Population387,050
Transportation in Tampa
50 / 100
Somewhat Walkable
31 / 100
Some Transit
55 / 100
Bikeable
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Tampa  Rent Prices

RENTAL STRATEGY STUDIOS 1 BEDROOM 2 BEDROOMS 3 BEDROOMS 4 BEDROOMS
Airbnb$1,636$1,645$2,125$2,996$3,580
Traditional$1,453$1,608$2,078$2,933$4,487

Tampa, FL - Homes for Sale - Newly Listed

7001 INTERBAY BOULEVARD #224
Tampa, FL 33616
Interbay
Townhouse
3 beds3 baths1,480 sq.ft.
CAP RATE
Trad. 1.69%Airbnb 1.07%
7505 CONNECTICUT DRIVE
Tampa, FL 33619
East Side Commercial Area
Single Family Residential
3 beds1 baths882 sq.ft.
CAP RATE
Trad. 6.51%Airbnb 5.75%
501 S MELVILLE AVENUE #4
Tampa, FL 33606
Courier City
Townhouse
2 beds3 baths1,920 sq.ft.
CAP RATE
Trad. 2.36%Airbnb 0.13%
601 S ALBANY AVENUE #8
Tampa, FL 33606
Courier City
Condo/Coop
2 beds3 baths1,236 sq.ft.
CAP RATE
Trad. 2.48%Airbnb -0.18%

Top Performing Tampa Properties

10906 N OAKLEAF AVENUE
Tampa, FL 33612
Forest Hills
Single Family Residential
5 beds3 baths2,285 sq.ft.
CAP RATE
Trad. 4.41%Airbnb 7.97%
18210 TALDECO PLACE
Tampa, FL 33647
Arbor Greene
Single Family Residential
4 beds2 baths2,289 sq.ft.
CAP RATE
Trad. 3.90%Airbnb 7.94%
3411 N 52ND STREET
Tampa, FL 33619
Grant Park
Single Family Residential
4 beds2 baths1,152 sq.ft.
CAP RATE
Trad. 6.13%Airbnb 7.89%
18193 STERLING GATE CIRCLE
Tampa, FL 33647
West Meadows
Condo/Coop
2 beds1 baths1,050 sq.ft.
CAP RATE
Trad. 5.83%Airbnb 7.88%

Recently Sold Homes in Tampa, FL

2707 N Jefferson St
Tampa, FL 33602
Tampa Heights
Multi Family
3 beds1 baths1,568 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
4810 W MCELROY AVENUE #16
Tampa, FL 33611
Bayside West
Townhouse
2 beds3 baths1,748 sq.ft.
CAP RATE
Trad. 2.29%Airbnb 0.18%
16304 NEWBURY PALMS COURT
Tampa, FL 33647
Tampa Palms
Townhouse
4 beds4 baths2,283 sq.ft.
CAP RATE
Trad. 4.81%Airbnb 9.67%
7907 SAVANAH PALM PLACE #101
Tampa, FL 33615
Tampa International Airport Area
Condo/Coop
3 beds2 baths1,396 sq.ft.
CAP RATE
Trad. 12.31%Airbnb 14.09%

Property Value Changes and Real Estate Appreciation in the Tampa Housing Market

The Tampa housing market has witnessed a strong real estate appreciation in the last ten years. Since Q1 of 2000, Tampa properties have experienced a total appreciation of 129.39% at an average annual rate of 4.41% according to NeighborhoodScout. 

Zillow reports that Tampa property values have gone up 5.5% over the past year and are predicted to rise 1.6% within the next year. Still, the Tampa real estate market remains one of the most affordable in the state and in the U.S. in general when it comes to property prices. 

The Tampa housing market is currently a buyer’s market as there are more homes for sale on the market than people looking to buy. The prices are moving slow, making it the best time to buy an investment property in Tampa.

Tampa, FL Top Multi Family Homes

1907 E MULBERRY DRIVE #A
Tampa, FL 33604
Sulphur Springs
Multi Family
2 beds1 baths1,204 sq.ft.
CAP RATE
Trad. 4.90%Airbnb 3.62%
103 S 22ND STREET
Tampa, FL 33605
Channel District
Multi Family
4 beds0 baths1,456 sq.ft.
CAP RATE
Trad. 7.86%Airbnb N/A
6309 S ROBERTS AVENUE
Tampa, FL 33616
Interbay
Multi Family
4 beds0 baths1,644 sq.ft.
CAP RATE
Trad. 6.44%Airbnb N/A
4209 N 14TH STREET
Tampa, FL 33603
East Tampa
Multi Family
4 beds0 baths1,115 sq.ft.
CAP RATE
Trad. 5.27%Airbnb N/A

Homes Below Median Price in the Tampa, FL Real Estate Market

10906 N OAKLEAF AVENUE
Tampa, FL 33612
Forest Hills
Single Family Residential
5 beds3 baths2,285 sq.ft.
CAP RATE
Trad. 4.41%Airbnb 7.97%
18210 TALDECO PLACE
Tampa, FL 33647
Arbor Greene
Single Family Residential
4 beds2 baths2,289 sq.ft.
CAP RATE
Trad. 3.90%Airbnb 7.94%
3411 N 52ND STREET
Tampa, FL 33619
Grant Park
Single Family Residential
4 beds2 baths1,152 sq.ft.
CAP RATE
Trad. 6.13%Airbnb 7.89%
18193 STERLING GATE CIRCLE
Tampa, FL 33647
West Meadows
Condo/Coop
2 beds1 baths1,050 sq.ft.
CAP RATE
Trad. 5.83%Airbnb 7.88%

Tampa Airbnb Growth and Regulations

The vacation rental market has been booming in Tampa in recent years. The Tampa Bay Area market generated a total of  $113 million in Airbnb revenue in 2018, accounting for nearly 14% of the state’s total Airbnb income. 

The good news for Airbnb Tampa investors is that Airbnb is legal in Tampa on the state level, and there are no official short-term rental laws in place at the city level. Under state law, no city in Florida can prohibit short-term rental investing. However, Airbnb has an agreement with Hillsborough County, the county Tampa is located in, which requires Airbnb Tampa investors of non-owner occupied properties to pay three taxes: the Florida Transient Rental Tax (6%), Florida Discretionary Sales Surtax (1%), and a County Tourist Development Tax (5%). Hosts of vacation rentals must also register the rental property with Florida’s Department of Business & Professional Regulation (DBPR) in order to obtain a rental license, unless the host remains in the home during the guests’ stay. 

Hosts using short-term rental platforms other than Airbnb will have to collect those taxes from tenants and remit them to the city themselves. Airbnb, however, collects and remits the taxes on behalf of hosts using its platform.

Tampa, FL Top Airbnb Homes

Entire home/apt · 1 bed
Sweet Dreams
942
Entire home/apt · 1 bed
Private Apartment near the airport
896
Entire home/apt · 1 bed
Tiny House in Historic Ybor City
883
Entire home/apt · 1 bed
Charming private guest house.
811

Tampa, FL Homes for Rent

2608 E 9TH AVENUE #B
Tampa, FL 33605
East Ybor
Multi Family
1 beds1 baths400 sq.ft.
1017 E POWHATAN AVENUE
Tampa, FL 33604
Old Seminole Heights
Single Family
2 beds1 baths1,618 sq.ft.

Tampa, FL Open Houses

7505 CONNECTICUT DRIVE
Tampa, FL 33619
East Side Commercial Area
Single Family Residential
3 beds1 baths882 sq.ft.
CAP RATE
Trad. 6.51%Airbnb 5.75%
3713 W LEONA STREET
Tampa, FL 33629
Virginia Park
Single Family Residential
5 beds5 baths3,560 sq.ft.
CAP RATE
Trad. 0.64%Airbnb 1.95%
16602 MANDY LANE
Tampa, FL 33618
Forest Hills
Single Family Residential
3 beds2 baths1,770 sq.ft.
CAP RATE
Trad. 3.68%Airbnb 3.47%
2910 W BARCELONA STREET #501
Tampa, FL 33629
Palma Ceia
Condo/Coop
4 beds4 baths2,896 sq.ft.
CAP RATE
Trad. 1.50%Airbnb -0.62%

Best Tampa Neighborhoods for Buying Investment Property

Highland Pines
Tampa, FL
60%
Mashmeter
property price
251776
Median
cap rate
7.67%
Traditional
10.09%
Airbnb
rental income
$1,609
Traditional
$2,117
Airbnb
homes for sale
3
occupancy rate
55%
Airbnb
East Side Commercial Area
Tampa, FL
54%
Mashmeter
property price
319966
Median
cap rate
6.76%
Traditional
5.51%
Airbnb
rental income
$1,804
Traditional
$1,470
Airbnb
homes for sale
63
occupancy rate
52%
Airbnb
West Meadows
Tampa, FL
52%
Mashmeter
property price
517098
Median
cap rate
4.38%
Traditional
6.01%
Airbnb
rental income
$1,886
Traditional
$2,590
Airbnb
homes for sale
40
occupancy rate
65%
Airbnb
East Tampa
Tampa, FL
52%
Mashmeter
property price
349811
Median
cap rate
6.01%
Traditional
7.03%
Airbnb
rental income
$1,753
Traditional
$2,050
Airbnb
homes for sale
26
occupancy rate
56%
Airbnb
Tampa Palms
Tampa, FL
51%
Mashmeter
property price
437638
Median
cap rate
5.31%
Traditional
6.25%
Airbnb
rental income
$1,935
Traditional
$2,280
Airbnb
homes for sale
30
occupancy rate
66%
Airbnb
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