Tampa Real Estate Market: June 2024 Stats and Trends

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.

Located right on the water, the city of Tampa is made up of over 400 miles of coastline curving along the top of Tampa Bay, connecting residents to the Gulf of Mexico. Proximity to the coast is one of the many features that gives the city its attractive beach lifestyle qualities. Mixed with an abundance of entertainment options, from sporting events, live music, and never ending dining choices, Florida natives and transplants alike continually move to Tampa for the lifestyle. 

But what about the Tampa real estate market in June 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 (June 2024):

Tampa General Statistics

• Population (city proper): 408,438 (up 5.29% since 2020)

• 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: 3.3% (county-wide; up .3% since december 2023)

• 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 (June 2024) Statistics

• Neighborhoods: 190

• Homes for sale as of March 2024: 3,679 

• Median list price: $465k (up 1% since January 2024)

• Median sold price: $401K (up .9% since January 2024)

• Sale-to-list price ratio: 98.55%

• Median price per square foot: $296 

• Median days on market: 46 (down 15% since January 2024)

• Rental vacancy rate: 4.2%

• Homeowner vacancy rate: 1%

• One-year appreciation rate: +5.6%

• Average rent: $1,920 

• Price-to-rent ratio: 18.42

• Most expensive neighborhoods:  

• Least expensive neighborhoods:
  
  

Final Thoughts: Tampa Real Estate Market (June 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.