Everyone seems to be moving to Tampa. The quality of life in Tampa is attracting more people, businesses, real estate and rental property investors.

Job opportunities, near perfect weather, and reinvention of the urban core and waterfront areas are also the prime reasons as to why businesses especially, the real estate market is also growing in leaps and bounds- Opines Hirav Shah, Famed Real Estate Business Astrologer and Real Estate Strategist.

Real Estate Market and Statistics for Tampa

One of the top housing markets for 2022 would be the housing market in Tampa-St.Petersburg-Clearwater. Housing sales are expected to surge by 9.6% while prices are expected to rise by 6.8% year-over-year.

Lately, the typical home value in Tampa is $346,710. The values of homes increased by 27.6% in 2021.

Based on the most recent study, the Median listing price of a home in Tampa is $350,000.

In Tampa, the Square foot listing price of a home is $227.

Median sold price of a home in Tampa is $340,000.

Days on market (median) is 47.

Most of the houses sell for approximately the asking price, which indicates the sale-to-list price ratio is 100% .

Of Tampa’s 93 neighborhoods, Sulphur Springs is the cheapest neighborhood with a median listing price of $190,000 and Davis Islands is the most expensive one with the median listing price of $2.6M for a house.

Attractive Renters’ Market and Statistics for Tampa

Tampa’s rental market is attracting institutional investors’ attention and this is superb news obviously.

For example, More than 8,000 single-family houses in the metropolitan area are estimated to be owned and rented by Invitation Homes.

According to a latest study, Median rent in Tampa is $2,250 per month for a 3-bedroom home.

Rents increased by 25 in 2021.

48% of the households in Tampa rent rather than own.

East Side Commercial Area, Northview Hills, and Woodland Terrace where rents range between $795 and $1,050 per month, happen to be the most affordable neighborhoods for renters in Tampa.

Sun Bay South, West Meadows, and Tampa Palms are three of the most popular neighborhoods for renters in the Tampa metro area.

Real Estate Investment’s Future in Tampa

Potential buyers are being pushed into the rental market due to the rising price of homes in Tampa and across the state.

Average rents have skyrocketed by 30%, which is the largest spike in the nation. Professional and business services are creating a steady job growth too and this also is responsible for an amazing future of real estate investment here.

The business expansions are obviously spurring Tampa’s economic growth. As a result there’s a rapid increase in demand for housing in Tampa and Hillsborough County, where Tampa is located. Hence, real estate investment’s future in Tampa in 2022 looks certainly bright !!

Final Thoughts

The Tampa Bay Area that is located in western Florida along Tampa Bay and near the Gulf of Mexico, is generating employment and growth in population, that leaves most other cities in the country green with jealousy.

Plus, Tampa is simply an incredible place to live and do business.

The rental market is really really strong and The Country’s Most Influential Real Estate Advisor and Strategist Hirav Shah, ranks Tampa as one of the best places to be in the U.S.