Tampa Real Estate Market 2021

Tampa Real Estate Market Trends & Forecast 2021

In this section, you’ll learn about the top factors that make Tampa one of the strongest real estate markets today, including: job growth, population growth, and affordability. Explore Tampa’s housing market, population, and employment trends in the tabs to learn more.

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Data Sources:

• https://www.zillow.com
• https://factfinder.census.gov/
• https://www.deptofnumbers.com
• RealWealth Property Team Data

Property values in Tampa are much more affordable than many other cities across the nation today.

• As of 2020, the median price of average homes in the Tampa metro area was $231,000. This is slightly below the national average of $254,000.
• In the neighborhoods where RealWealth members invest, the median price of average homes in Tampa was $219,000 in 2020. This is 14% lower than the national average of $254,000.
• This shows us that property values in Tampa are much more affordable than many other cities across the nation today, especially in the areas where RealWealth members invest.

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Investors have a good opportunity to make recurring monthly cash flow in Tampa

• In 2020, the median monthly rent for average homes in Tampa was $1,557, which is 0.68% of the purchase price of $231,000. This is right in line with the the national purchase-to-rent ratio of 0.68%.
• In the neighborhoods where RealWealth members invest, the median monthly rent of average homes was $1,625, which is 0.74% of the $219,000 purchase price.
• This shows us that the Tampa metro area offers investors the opportunity to make recurring monthly cash flow, especially in the neighborhoods where RealWealth members invest.

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Tampa home values are appreciating at a faster rate than other cities across the nation.

• In 2014, the median price of average homes in Tampa was $219,000. This means that, in the last 6 years (2014 to 2020), average homes in Tampa have appreciated by 58%. During the same period, average homes increased by 36% nationwide.
• This shows us that home values in Tampa are appreciating faster than other cities across the nation. Plus, Tampa’s rapid population and job growth (see Population Trends tab) make it likely that demand for housing will continue to rise, which should continue to drive home values up.

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Tampa rents are appreciating at a faster rate than other cities across the nation.

• In 2014, the median rent for average homes in Tampa was $1,186. This means that, in the last 6 years (2014 to 2020), Tampa rents have appreciated by over 31%. During the same period, rent for average homes increased by 23% nationwide.
• This shows us that rents in Tampa are rising at a faster rate than other cities across the nation. If population growth and a stable job market trends continue in Tampa, we can expect the demand for housing to increase, driving up rents in addition to home values.

Tampa’s population is growing at a significantly faster rate than most other U.S. cities today.

• Since 2010, Tampa’s population has increased by nearly 15%. This is 139% faster than the national average during this period.
• This shows us, Tampa’s population is growing at a faster rate than most other U.S. cities today.

Tampa created more jobs in 2019 than many other U.S. cities.

• In the past year the number of jobs in Tampa has decreased by 4.44%. Compared to many other cities around the U.S., Tampa’s job market fared 27% better.  Nationwide, jobs decreased by 6% in 2020.
• This shows us that Tampa has a stable jobs market than many other U.S. metros.

Tampa Has a Stable Job Market

• In the past year, the number of jobs in Tampa has decreased by more than 4.4%. This is 27% better than the 6% national average.
• This shows us that Tampa has a stronger job market than many other U.S. metros.

Tampa’s Population is Growing Rapidly

• Since 2010 Tampa’s population has increased by 15%. This is 139% faster than the national average during this period.
• This shows us that Tampa’s population is growing at a faster rate than most other U.S. cities today.

Tampa is Affordable

• As of 2020, the median price of average homes in the Tampa metro area was $231,000. This is below the national average of $254,000.
• In the neighborhoods where RealWealth members invest, the median price of average homes in Tampa was $219,000 in 2020. This is 14% lower than the national average of $254,000.
• This shows us that property values in Tampa are much more affordable than many other cities across the nation today, especially in the areas where RealWealth members invest.

Tampa Home Values & Rents are Rising Steadily

• In 2014, median price of average homes in Tampa was $146,403. This means that, in the last 6 years (2014 to 2020), average homes in Tampa have appreciated by almost 58%. During the same period, average homes increased by 36% nationwide.
• In 2014, the median rent for average homes in Tampa was $1,186. This means that, in the last 6 years (2014 to 2020), Tampa rents have appreciated by almost 32%. During the same period, median rent for average homes increased by 23% nationwide.
• This shows us that home values and rents are appreciating at a faster rate than other cities across the nation. Along with Tampa’s rapid population and stable job growth, demand for housing should continue to rise. And if demand continues to increase, property values and rents will almost assuredly follow.