As real estate investors search for cities and neighborhoods with outstanding home values, many have discovered that the diverse communities of Tampa Bay are perfect for value investing.
Tampa Bay, therefore, has earned a reputation as one of the hottest U.S. markets for real estate investing, due in large part to exceptional home values.
Tampa Bay Real Estate Prices
Florida is one of the most popular beach and retirement destinations in the world, and has some of the highest real estate prices in the U.S. The challenge for real estate investors is to find communities in Florida that offer the lifestyle people are seeking, while also offering great real estate prices.
The solution for many investors is Tampa Bay, which offers both the lifestyle and exceptional home prices, making it a great place to invest in real estate.
In a recent study by Coldwell Banker, average home prices throughout Tampa Bay for four-bedroom, two-bathroom homes offer some of the best value in the entire state of Florida.
To give you an idea of average home prices in Tampa Bay, here is a list from the Coldwell Banker study starting with the Tampa Bay cities with the least expensive average price for a 4/2 home:
- New Port Richey ($154,830)
- Spring Hill ($176,203)
- Ruskin ($195,410)
- Riverview ($208,503)
- Brandon ($216,010)
- Wesley Chapel ($229,510)
- Land O’ Lakes ($238,514)
- Clearwater ($246,869)
- Temple Terrace ($275,329)
- Lutz ($286,663)
- Tampa ($299,579)
- Bradenton ($303,702)
- Saint Petersburg ($307,225)
- Apollo Beach ($362,926)
New Port Richey ranked as having the 4th lowest average home price for a 4/2 in Florida, while also offering the coastal lifestyle many people are seeking.
Spring Hill was ranked the 9th lowest average home price for a 4/2, and Ruskin was ranked 16th lowest. All of these communities feature an excellent quality of life, and are close to local beaches, cultural activities, and other Tampa Bay amenities.
Popularity of Tampa Bay for Real Estate Investing
Home prices in Tampa Bay, along with the desirability of the area, has made it one of the most popular places for real estate investing.
For example, a Q2 2016 RealtyTrac report found that Tampa is the 3rd most popular city for flipping houses, with a flipping rate of 10%. This is due in part to the profit investors are realizing from flips. According to RealtyTrac in mid-2015, Tampa flips were delivering a 57.2% ROI to real estate investors.
Part of the popularity of Tampa Bay is due to a massive redevelopment project in the city center of Tampa. Announced over two years ago, Jeff Vinik’s $1.7 billion-dollar development plan includes a new urban medical school, corporate headquarters, condos, hotels, meeting spaces, shops, and restaurants.
All of this is attracting millennials in droves. Approximately 65% of homebuyers in the Tampa Bay area in 2013-2014 were millennials, and that trend doesn’t appear to be slowing down.
What This Means for Investors
Many real estate investors are taking advantage of the popularity of Tampa Bay and everything it offers. There is a good inventory of affordable homes to purchase, and healthy demand to purchase flips and rent rehabbed residential properties.
Related:
- Tampa is a Top 5 City for House Flipping – Forbes
- Tampa Ranked #2 Among Best U.S. Cities to Own Investment Property
Graystone Investment Group
Graystone Investment Group is an experienced Investment Group, wholesaling single-family and multifamily investment properties in metro Tampa Bay.
Unlike other wholesaling groups, we find properties that we resell to investors at discount prices, while also connecting them with private financing. We also coordinate with rehab and management companies we’ve worked with for years, at no extra charge.
To learn more about profitable real estate investments in the Tampa Bay area, fill out our Investor Profile or contact us direct.
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