Tampa Investment Property for Sale - 2023 Rental Home Appreciation
Located in Pinellas/Hillsborough Counties along with St. Petersburg and Clearwater, Tampa has been popular with real estate investors and potential homeowners for years. It continues to attract homebuyers and renters with relatively affordable rates compared to the rest of Florida.
Tampa's location makes it a popular tourist destination, and over 4,000 Airbnb rental property units provide cash flow for investors. It is also close to Orlando and Miami, two of Florida's booming cities.
Tampa real estate currently centers on an attractive housing market to investors, homebuyers, and renters alike, leading the nation as one of the top 10 housing markets in listing price appreciation.
Tampa's Attractive Housing Market
Realtor.com considers the Tampa Bay area a seller's market in 2022, with over 2,000 single-family homes for sale and over 3,000 rentals. Home values have gone up steadily over the past few years in response to demand. Tampa home prices stayed strong during the pandemic and may remain strong in the future.
Along with Westshore and Riverview, several popular Tampa neighborhoods include:
- Ybor City: Ybor is noted for being a National Historic Landmark District, attracting businesses, and encouraging real estate investment. From manufacturing to tech, Ybor City highlights itself as a business-friendly area.
- Bayshore: Bayshore is the place for active exercise enthusiasts. Located on a peninsula jutting into Tampa Bay, the neighborhood boasts listings on Zillow that range into the millions.
- Carrollwood: Carrollwood is one of the top places to live in Tampa, with property owners living in most of the homes rather than renters.
- Downtown Tampa: Home of the Tampa Museum of Art, the Straz Center for the Performing Arts, and multiple festivals, Downtown Tampa is a center of arts and entertainment.
- Hillsborough: Hillsborough garners attention for its massive state park, exotic Safari Wilderness Ranch, and the MidFlorida Credit Union Amphitheater.
- Seminole Heights: With a real estate market geared toward young families and artists, Seminole Heights hosts many local creatives and ongoing live markets.
Rental Home Appreciation in Tampa
As neighborhoods such as Ybor City pour funds into upgrades and business development and new home prices rise, Tampa could see continued investment opportunities for multi-family units and other rental properties.
The beauty of the Bay, its proximity to the Gulf, and the business-friendly developments along the coast have created a growing interest in Tampa.
In addition to business, the West Coast of Florida offers educational, artistic, and entertainment opportunities for growing families and retirees.
The area has the potential to continue as a strong location for real estate professionals and investors.
Economic Growth in Tampa
Tampa is home to tech-sector giants such as TD Synnex and Jabil. But the region's employment opportunities are diverse and include industries such as phosphate mining (Mosaic), boating (MarineMax), water (Primo Water), and manufacturing (Masonite).
The Red Apple Group may bring development dollars to the Tampa Bay area along with other companies who are relocating to Florida for the sun and tax benefits.
Thanks to the area's tech, marine, and manufacturing industries, Tampa's unemployment rate has fallen steadily since October of 2021.
Is Tampa the right real estate market for you?
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