Real estate has become a popular avenue for people looking to diversify their income streams and potentially hedge against inflation. Whether you’re a seasoned pro or just getting started in investing, Tampa, FL,  is certainly worth considering.

Residents of Tampa enjoy a sunny lifestyle, living beachside in a charming city along Florida’s western coast. From year-round temperate weather, to pristine white sand beaches, and an up-and-coming small business market, this city is nothing short of paradise. 

And while Tampa may feel classically suburban to the untrained eye, locals know there is a vibrant and rich culture that truly brings the city to life. From local holidays celebrating Tampa’s pirate history (Gasparilla), to the devoted following of the Tampa Bay Buccaneers NFL team, to the ethnic melting pot of cultures that make up the many colorful neighborhoods; Tampa’s culture is deeply dynamic.

But what about the Tampa real estate market in September 2024? What do stats and trends look like, especially right now? Facts and figures are constantly changing, so we’ve gathered all the most up-to-date information for you.

Here are some of the top trends in the Tampa real estate market (September 2024):

Tampa General Statistics

• Population (city proper): 408,438 (up .51% since 2023)

• Population (metro area): 3,290,730 

• Area (city proper): 113.6 sq. mi. 

• Area (metro area): 2,515.7 sq. mi.

• Median Age: 35.3 

• GDP (metro area): $219 Billion 

• Unemployment rate (metro area) : 3.6%  (up .2% since March 2024)

• Top employers: Bloomin’ Brands, SYKES, Carrabba’s, myMatrixx, Hillsborough Schools, Atkins, Outback Steakhouse, Workers Temporary Staffing, WellCare Health Plans, CAE.

• Highest paying jobs: Physician, Radiologist, Hospital Physician, Pain Management Physician, Cardiothoracic Surgeon, Oral Surgeon, Internist, Resident Physician in Radiology, Hand Surgeon, Environmental Health Physician. 

• Median income (per capita): $49,506

• Median income (household): $71,089

Tampa Real Estate Market (September 2024) Statistics

• Neighborhoods: 190

• Homes for sale as of September 2024: 3,877 

• Median list price: $475K (up 2.5% since March 2024)

• Median sold price: $430K (up 1% since March 2024)

• Sale-to-list price ratio: 95.89%

• Median price per square foot: $294 

• Median days on market: 47 (down 2% since March 2024)

• Rental vacancy rate: 4.2%

• Homeowner vacancy rate: 1%

• One-year appreciation rate: +4.5%

• Average rent: $1,920 

• Price-to-rent ratio: 18.42

• Most expensive neighborhoods:  

• Least expensive neighborhoods:
  
  

Final Thoughts: Tampa Real Estate Market (September 2024) Trends

The Tampa real estate market is constantly changing and evolving. But the potential for investors to profit is near-constant. Whether you’re an experienced real estate investor or brand new to the industry, the Tampa real estate market could provide ample opportunity to build your portfolio.

Get Started Buying Homes With Evernest

Whether you’re purchasing one Tampa home or one hundred, you don’t have to go it alone. 

If you’re ready to buy your first (or next) investment property, here are three steps to get started today:

• Subscribe to our podcast: The Evernest Real Estate Investor Podcast—for all things real estate investing, being a landlord, growing your portfolio, and more. 

• Find a property: Make sure you sign up for our Pocket Listings to get notified of all the deals that come across our desk daily.

• Get an investor-friendly agent: We can help with that—we would love to help you buy your next rental property investment.

This content was originally published on Evernest.co.