Real Estate News

Where to Invest: Tampa Bay Has Third Fastest Growing Market in the Country

Tampa Bay is growing quickly, so invest while you can.

tampa bay

I lived in Tampa for 8 years for college, so I can tell you with no bias that it is a great place to live, mostly because it has a little bit of everything, from a college atmosphere, to a bustling downtown area, to some of the best beaches in Florida. It should come as no surprise to anyone then, that Zillow recently named Tampa Bay the third fastest growing real estate market in the country.

According to Zillow, real estate markets all over the South are seeing positive numbers, and the average home price in Tampa is up 11.9 percent in the last year alone. Prices for single-family homes jumped 11.4 percent in January of this year, which is higher than the average price statewide, and the largest increase in Florida by far.

Real estate markets all over Florida are seeing similar growth, with Orlando and Miami seeing appreciation this year as well, while West Coast markets are starting to slow down.

So one might wonder exactly what draws people to the market.

Nick Janovsky, a Tampa Bay Realtor said:

“Tampa / St Pete, the Bay Area, is an incredible value for home buyers due to world-class beaches, museums and annual festivals like Gasparilla and the Grand Prix, professional sports teams and incredible dining options all being within a half hour drive. No where in the nation has such a stellar variety that suits any appetitive and lifestyle. Home values are still low compared to other markets and the weather here beats almost every other state. Forbes just ranked Tampa Bay the eighth fastest growing are in the county.”

READ MORE: Luxury Tampa Apartments Could Set High Rent Record

When asked why she decided to buy in Tampa, recent home-buyer Julia Ozimek said:

“I decide to buy in Tampa because it has everything I want, a vibrant nightlife and lots of culture, but also a nice back yard and plenty of space. Seminole Heights is blowing up right now, and all the neighborhoods around it are building up, which means it will only increase in value because people really want to be here.”

So if you are looking to buy in Florida, Tampa Bay is absolutely worth a look. I have been away from it for eight years, but every time I go back I am impressed by how much it has grown, which only bodes well for future property values and real estate investments.

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About the author

Gary Adrian Randall