Tampa Housing Market: Trends & Prices

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    Tampa Real Estate Market Overview

    (Last Updated – 10/2020)

    When we think of Tampa, we think of fun. This Florida city has more attractions, arts and culture, events, and sporting opportunities to offer than we can even remember. Tampa is home to the famed Busch Gardens theme park, an aquarium and zoo, and the popular Riverwalk.

    Nature wise, there are plenty of parks, dog parks, greenways and trails, skate parks, water activities and a marina that locals can enjoy. There are plenty of great sports teams to root for in the Tampa Bay Area such as the Tampa Bay Buccaneers football team, the Tampa Bay Lightning hockey team, and the Tampa Bay Rays.

    Career wise, there are plenty of great options, especially for those that are committed to a military career. The 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 being said, if residents need to get away for a quick vacation, the Tampa International Airport and the Port of Tampa, which is a popular spot for those looking to board a cruise ship, will get you where you need to go.

    $275,000

    Avg. Home Price

    $166

    Avg. Price Per Sq. Ft

    21 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 5.3% in the past year and the real estate experts at Zillow predict they could fall by -1.2% within the next year, which may make the upcoming year a good time for buyers to find a deal.

    Housing market forecast chart

    *Graph taken from Zillow as of 09/2020

    Demographics of the Tampa Market

    Tampa is the third largest city in Florida and is located on the west coast of Florida. Residents enjoy an average annual temperature of a balmy 73.1 degrees.

    From tourism to agriculture, to finance, to government, to technology, Tampa does it all. Making it a great place to both live and work.

    Take a look at the demographics of the overall Tampa housing market before diving into our breakdowns of popular Tampa neighborhoods.

    Median Income: $54,599

    Median Age: 34.6

    College Educated: 37%

    Homeowners: 48.3%

    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 on the shores of Sarasota Bay.

    A playground, picnic pavilions with BBQ grills, ball field, fishing pier, and multiple pools await residents.

    Quick Facts

    Population:

    25,999

    Median Age:

    39.6

    Housing Units:

    11,464

    Bike Score:

    54

    Walk Score:

    55

    Transit Score:

    28

    Average Household Income:

    $164,597

    Tampa-Bayshore Gardens Housing Market

    The Bayshore Gardens housing market is a very competitive one, with many homes receiving multiple offers and some homes having waived contingencies.

    Despite how competitive this market is, homes typically sell for around 4% below their list price, so there may be some room for negotiation.


    Average Home Price

    $126,000

    Average Price Per Sqare Ft.

    $103


    Palma Ceia

    For a taste of Europe, look no farther than Palma Ceia. This charming neighborhood is beloved for it’s European-style brick streets and arts scene. There are plenty of cafes, coffee shops, and chic boutiques to choose from, all of which enhance the European feel of this neighborhood.

    Quick Facts

    Population:

    25,999

    Median Age:

    39.6

    Housing Units:

    11,464

    Bike Score:

    60

    Walk Score:

    67

    Transit Score:

    35

    Average Household Income:

    $164,597

    Palma Ceia Housing Market

    Home prices are dropping in the neighborhood of Palma Ceia. In the past year, home prices have dropped by 5.8%.

    On average Palma Ceia homes sell for about 1.1% below their list price and some homes receive multiple offers from prospective buyers.


    Average Home Price

    $635,000

    Average Price Per Square Ft.

    $288


    North Hyde Park

    Hyde Park was the first Western suburb in Tampa and it stretches southward from the mouth of the Hillsborough River down the east side of the Interbay Peninsula. This historic neighborhood has plenty of stunning Queen Anne and Colonial Revival homes to choose from, making it an ideal spot for architecture lovers.

    According to locals, North Hyde Park in particular is dog friendly and it is easy to walk to restaurants, making it a pleasant neighborhood to live in.

    Quick Facts

    Population:

    1,777

    Median Age:

    34

    Housing Units:

    854

    Bike Score:

    67

    Walk Score:

    79

    Transit Score:

    37

    Average Household Income:

    $92,532

    North Hyde Park Housing Market

    If a prospective buyer finds a home they love in North Hyde Park, they may need to move quickly. Typically, homes sell in just around 20 days in this neighborhood.

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


    Average Home Price

    $333,000

    Average Price Per Square Ft.

    $169


    Uptown Tampa

    Head up to Uptown Tampa where residents will find plenty of innovation and a creative energy. Sprawling over 19 square miles, Uptown Tampa began as a renovation project to spur development and end blight in the surrounding neighborhoods. This neighborhood is changing quickly, so locals always have something new to look forward to.

    Quick Facts

    Population:

    14,409

    Median Age:

    37.3

    Housing Units:

    9,260

    Bike Score:

    71

    Walk Score:

    89

    Transit Score:

    67

    Average Household Income:

    $109,633

    Uptown Tampa Housing Market

    In this somewhat competitive housing market, some homes receive multiple offers and sell in around 24 days.

    Despite the competitiveness, home buyers can score a deal in this neighborhood. On average, Uptown Tampa homes sell for about 2.2% below their list price.


    Average Home Price

    $375,000

    Average Price Per Square Ft.

    $482


    Oakford Park

    Oakford Park is home to almost 700 families, making it a great place to bring up children. In fact, 325 households in this neighborhood are raising children.

    When locals were polled, 100% reported Oakford Park is dog friendly, meaning even your furry family members will love this area.

    Quick Facts

    Population:

    3,186

    Median Age:

    38

    Housing Units:

    1,629

    Bike Score:

    71

    Walk Score:

    64

    Transit Score:

    35

    Average Household Income:

    $96,585

    Oakford Park Housing Market

    Home prices are on the rise in Oakford Park! In the past year alone, the average home price in this neighborhood rose by 141.5%.

    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.


    Average Home Price

    $664,000

    Average Price Per Square Ft.

    $213



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    It’s easy to see why Tampa has become such a popular market to buy a home in. There are some really amazing neighborhoods to choose from whether you’re young and single or have a family to look after.

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