Real Estate Market Trends: Everything You Need to Know in Beautiful Tampa

Real Estate Market Trends: Everything You Need to Know in Beautiful Tampa

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 on the western coast of the Florida peninsula, the city of Tampa is the vibrant home to a melting pot of cultures and year-round gorgeous weather. Originally known as a military base and the American birthplace of the cigar, Tampa has a fascinating history that can still be felt today, through its deep connection to lively food, music, and culture.  

But what about the Tampa real estate market? 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 for March 2024 in the Tampa real estate market:

Tampa General Statistics

  • Population (city proper): 408,773 (up .2% 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): $220 Billion 

  • Unemployment rate: 3.1% (county-wide; down .1% since October 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 Statistics

  • Neighborhoods: 190

  • Homes for sale as of March 2024: 3,284 

  • Median list price: $455K (down .01% Since December 2023)

  • Median sold price: $392K (down .01% since December 2023)

  • Sale-to-list price ratio: 98.13%

  • Median price per square foot: $294 

  • Median days on market: 61 (up 18% since September 2023)

  • Rental vacancy rate: 4.2%

  • Homeowner vacancy rate: 1%

  • One-year appreciation rate: +3.7%

  • Average rent: $1,923 (up .02% since 2021)

  • Price-to-rent ratio: 18.42

  • Most expensive neighborhoods:  


Average Monthly Rent 

Median Listing Price

Historic Hyde Park



Davis Islands



Parkland Estates



Gandy Sun Bay Southwest



Bayshore Beautiful



  • Least expensive neighborhoods:


Median Monthly Rent 

Median Listing Price

Northview Hills



University Square West



East Lake South



Rowlett Park



Cross Fletcher



Final Thoughts: Tampa Real Estate Market Trends in March 2024

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:

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