Tampa, FL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Tampa, FL Housing Market Trends

With a population of 399,700, 152,296 total housing units (homes and apartments), and a median house value of $285,274, Tampa real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Tampa, accounting for 52.81% of the city's housing units. Other types of housing that are prevalent in Tampa include large apartment complexes or high rise apartments ( 32.06%), duplexes, homes converted to apartments or other small apartment buildings ( 7.76%), and a few row houses and other attached homes ( 6.18%).

People in Tampa primarily live in small (one, two or no bedroom) single-family detached homes. Tampa has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Tampa built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Tampa built between 1940-1969 ( 29.56%). A lesser amount of the housing stock also hails from between 2000 and later ( 25.67%). There's also some housing in Tampa built before 1939 ( 8.69%).

Vacant housing appears to be an issue in Tampa. Fully 10.84% of the housing stock is classified as vacant. Left unchecked, vacant Tampa homes and apartments can be a drag on the real estate market, holding Tampa real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Tampa Home Appreciation Rates

In the last 10 years, Tampa has experienced some of the highest home appreciation rates of any community in the nation. Tampa real estate appreciated 130.81% over the last ten years, which is an average annual home appreciation rate of 8.72%, putting Tampa in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Tampa definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Tampa that despite a nationwide downturn in the housing market, Tampa real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tampa appreciation rates continue to be some of the highest in America, at 12.04%, which is higher than appreciation rates in 84.07% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tampa. Tampa appreciation rates in the latest quarter were at 4.07%, which equates to an annual appreciation rate of 17.31%.

Importantly, this makes Tampa one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Florida, our data show that Tampa's latest annual appreciation rate is higher than 70% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Tampa differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tampa - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Tampa real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$285,274

Tampa, FL HOME PRICES

> $1,388,000
3.4%
3.4%
$1,041,001 - $1,388,000
3.5%
3.5%
$694,001 - $1,041,000
6.8%
6.8%
$555,001 - $694,000
6.2%
6.2%
$417,001 - $555,000
10.4%
10.4%
$278,001 - $417,000
20.0%
20.0%
$139,001 - $278,000
30.3%
30.3%
$69,001 - $139,000
14.1%
14.1%
$0 - $69,000
5.4%
5.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Average for FL

Value Relative To Nation

Number Of Homes And Apartments:
152,296

Tampa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
185.83% 5.01%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,675 / per month

Homeownership Rate

Owners
47.1%
47.1%
Renters
52.9%
52.9%
Vacant
10.8%
10.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
25.7%
25.7%
1970 - 1999
36.1%
36.1%
1940 - 1969
29.6%
29.6%
1939 or Older
8.7%
8.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
52.8%
52.8%
Townhomes
6.2%
6.2%
Small Apt. Buildings
7.8%
7.8%
Apt. Complexes
32.1%
32.1%
Mobile Homes
1.1%
1.1%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.7%
3.7%
1 Bedroom
17.1%
17.1%
2 Bedrooms
30.0%
30.0%
3 Bedrooms
33.3%
33.3%
4 Bedrooms
12.8%
12.8%
5 or more bedrooms
3.1%
3.1%
0.0% 100.0%
% OF HOMES