2019 Market Overview
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Located on the west coast of Florida, Tampa Bay is a densely populated metropolitan area, second only to Miami, with a population of more than four million people. Major cities in this area include St. Petersburg, Largo, Clearwater, New Port Richey, Holiday, and Tampa. Tampa’s local economy is worth about $130 billion and the metro area has been ranked as one of the top 20 fastest growing in the country. Tampa also has a strong local economy with a strong focus on job growth in areas such as STEM, financial services, and healthcare. The Greater Tampa Bay Area is consistently ranked among the top 20 fastest growing metro areas in the country and with billions of dollars of residential, commercial, and infrastructure investments underway, it is one of the engines of the Florida economy. In 2016 alone, the Metro Tampa Area added 40,000 new jobs to the community giving it the fastest growth in the state and one of the fastest in the country. More than 19 firms, with annual revenues of more than $1 billion, are headquartered here and it is home to four Fortune 500 companies. Tampa has a very diverse economy with financial services, STEM, health care, research, education, tourism/retirement, and military bases all making significant contributions to jobs and growth. In the first quarter of 2017, there were 14 venture capital deals in the Tampa-St. Petersburg-Clearwater metropolitan area; this made Tampa the 24th most active metropolitan area for venture deals in the first three months of the year, according to the PitchBook-NVCA Venture Monitor. These deals totaled $54.5 million. Fun Fact: Though known for hot summers, Tampa’s official high has never reached 100 °F. The city’s all-time record temperature is 99 °F (37 °C).
Why Invest Here?A strong local economy, rapid population growth, and a focus on job creation (especially in STEM, financial services, and healthcare industries) are just a few of the many factors that make Tampa a strong market for buy and hold real estate investments today. This is especially true for investors who are looking to invest in a quickly growing real estate market while prices are still low, as well as generating strong monthly cash flow and having a good chance for appreciation.
Tampa Trends & Statistics 2018-2019In this section, you’ll learn about the top factors that make Tampa one of the strongest real estate markets today, including: job growth, population growth, and affordability. Explore Tampa’s housing market, population, and employment trends in the tabs to learn more.
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