Tampa Housing Market: Trends & Prices

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    Tampa Real Estate Market Overview

    (Last Updated – 12/2021)

    When we think of Tampa, we think of fun. This Florida city brims with attractions, arts and culture, business, and sports. Tampa is home to the famed Busch Gardens theme park, an aquarium and zoo, and the popular Riverwalk.

    Naturewise, there are plenty of parks, dog parks, greenways and trails, skate parks, water activities, and marinas. Sports fans in the Tampa Bay area can root for the Buccaneers, Lightning, and Rays.

    Career options abound, including for those who are on a military path. MacDill Air Force Base in South Tampa has around 19,000 employees.

    Tampa is the 53rd largest city in the United States, which may be why it has so much to offer. That said, if residents need to get away, Tampa International Airport and the Port of Tampa, a popular spot for those looking to board a cruise ship, will get them where they need to go.

    $345,500

    Median Sale Price

    $227

    Avg. Price Per Square Ft.

    10 days

    Avg. Time on Market

    Tampa Housing Market Forecast

    For those thinking of buying in the Tampa real estate market, it can be helpful to look at some key demographics.

    For example, Tampa median home prices rose by 27.6% in the past year, according to Zillow. Low inventory plus strong interest from out-of-state cash buyers and investors has been a major factor causing the jump in prices. According to a recent Redfin report, 24.5% of Tampa homes were purchased by investors in the third quarter of 2021.

    Nonetheless, the Tampa housing market is still considered one of the most affordable real estate markets in Florida, with the overall median Tampa home price coming in below the third quarter 2021 median U.S. home price of $363,700.

    Housing market forecast chart

    *Graph taken from Zillow as of 10/2021

    Demographics of the Tampa Market

    Tampa is the third largest city in Florida and is on the state’s west coast. Residents enjoy an average annual temperature of a balmy 76.3 degrees.

    From tourism to agriculture, finance, government, and technology, Tampa is a great place to both live and work.

    Take a look at the demographics of the overall Tampa housing market before perusing popular Tampa neighborhoods.

    Median Income: $53,833

    Median Age: 35.7

    College Educated: 38.6%

    Homeowners: 48.6%

    Married: 41%

    Tampa-Bayshore Gardens

    This residential area is a dream for families who are looking for resort-style living year-round. Residents can enjoy plenty of social and recreational activities in this neighborhood, which lies along Hillsborough Bay.

    A playground, picnic pavilions with barbecue grills, ballfield, fishing pier, and multiple pools await residents.

    Quick Facts

    Population:

    27,061

    Median Age:

    40.4

    Housing Units:

    11,786

    Bike Score:

    54

    Walk Score:

    55

    Transit Score:

    28

    Average Household Income:

    $177,552

    Tampa-Bayshore Gardens Housing Market

    The Bayshore Gardens housing market is very competitive, with many homes receiving multiple offers, some with waived contingencies. Homes typically sell for around list price and get scooped up in roughly six days.


    Median Sale Price

    $651,000

    Average Price Per Square Ft.

    $331


    Palma Ceia

    For a taste of Europe, try Palma Ceia. This charming neighborhood is beloved for its European-style brick streets and arts scene, and there are plenty of cafes, coffee shops, and chic boutiques to choose from.

    Quick Facts

    Population:

    27,061

    Median Age:

    40.4

    Housing Units:

    11,786

    Bike Score:

    60

    Walk Score:

    67

    Transit Score:

    35

    Average Household Income:

    $177,552

    Palma Ceia Housing Market

    Home prices surged in Palma Ceia by 17.5% in the past year.

    On average Palma Ceia homes sell for about list price, with many homes receiving multiple offers. Typical homes go pending in around eight days, and in-demand homes can go in four days in this very competitive housing market.


    Median Sale Price

    $720,000

    Average Price Per Square Ft.

    $376


    North Hyde Park

    North Hyde Park is considered a reemerging neighborhood that’s near the waterfront jogger- and bicyclist-friendly ribbon of Bayshore Boulevard, the University of Tampa, downtown, and trendy South Howard Avenue.

    The year saw significant investment in new apartments, homes, restaurants, and shops.

    Quick Facts

    Population:

    1,867

    Median Age:

    34

    Housing Units:

    895

    Bike Score:

    67

    Walk Score:

    79

    Transit Score:

    37

    Average Household Income:

    $96,884

    North Hyde Park Housing Market

    If prospective buyers find a home they love in North Hyde Park, they may need to move quickly. Typically, homes sell in around 15 days for close to list price. Some receive multiple offers.

    Despite how quickly the homes in this area sell, some still receive multiple offers and sell for around their original list price.


    Median Sale Price

    $370,000

    Average Price Per Square Ft.

    $241


    Uptown

    Sprawling over 19 square miles, Uptown began as a renovation project to spur development and end blight in the surrounding neighborhoods.

    Making strides toward being known as an innovation hub, the area includes the University of South Florida, Moffitt Cancer Center, Busch Gardens, AdventHealth Tampa, and Yuengling Tampa Brewery.

    Quick Facts

    Population:

    15,586

    Median Age:

    37.4

    Housing Units:

    9,967

    Bike Score:

    71

    Walk Score:

    89

    Transit Score:

    67

    Average Household Income:

    $109,284

    Uptown Housing Market

    In this very competitive market, many homes receive multiple offers and sell in around nine days.

    Despite the competitiveness, homebuyers may be able to score a deal. On average, Uptown area homes sell for about 1% below list price.


    Median Sale Price

    $232,050

    Average Price Per Square Ft.

    $163


    Oakford Park

    Oakford Park is home to almost 700 families, making it a great place to bring up children. In fact, 323 households in this neighborhood include children.

    The neighborhood is also dog friendly, meaning even your furry family members will love this area.

    Quick Facts

    Population:

    3,200

    Median Age:

    38

    Housing Units:

    1,622

    Bike Score:

    71

    Walk Score:

    64

    Transit Score:

    35

    Average Household Income:

    $101,570

    Oakford Park Housing Market

    In the past year, the median home price in this neighborhood rose by 38.2%.

    Despite this quick rise in prices, homes for sale in this neighborhood sell in around 24 days on the market. Typically homes in this area receive multiple offers and sell for about 0.8% below their list price.

    Homes sell in around 25 days, with some receiving multiple offers. Despite the competition, homes in Oakford Park typically sell for about 2% below list price, so there may be some wiggle room for negotiation.


    Median Sale Price

    $423,000

    Average Price Per Square Ft.

    $279



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