Are you in the market to buy a home and looking for the best spot to see a strong return on your hard-earned money? Are you looking to build equity in a home or perhaps looking for a rental property to generate income as it's value rises? Every home buyer wants their money to make money, so where should you be looking? Well, according to Forbes Magazine, if you live in the Tampa Bay area, look no further than your own backyard! In Forbes 'Where to Invest in Housing 2017' Tampa-St-Petersburg lands in a solid 7th place, and No.1 in Cities Americans are moving to in the U.S.
Tampa-St.Petersburg: Number 7 out of the Top 20 Cities to Invest
Photo courtesy of Wikimedia Commons
Teaming up with Local Market Monitor, a North Carolina-based company consistently tracking more than 300 housing markets, they uncovered 20 markets where "population, jobs and home prices are growing". Florida dominated the list with Tampa at #7, West Palm #5, Orlando at #3, and Jacksonville #2 where according to Local Market Monitor home prices are expected to grow by at least 17% by 2020.
Here are the numbers supporting housing investment in Tampa-St. Petersburg
- Population: 2,915,582
- 3-year population growth: 4.5%
- Year-over-year job growth: 2.6%
- Year-over-year home price growth: 9%
- Over (+) or under (-) historic value by: 5%
Related Content: Best Real Estate Agents in Tampa
This Photo and Cover Photo courtesy of OfftheSidewalk.com
Tampa Bay also ranked #39 on Forbes list of Best Places for a Career or to Start a Business out of 200 municipal areas studied.
At a glance, once again it's easy to see what makes this area a hotbed for economic growth and the perfect place to invest. Whether it is in your career, a business start-up or real estate, the numbers are great!
- Metro Population: 2,980,400
- Major Industries: Defense, Financial services, Technology
- Gross Metro Product: $141 B
- Median Household Income: $48,958
- Median Home Price: $195,900
- Unemployment: 4.5%
- Job Growth: 3.4%
- Cost of Living: 0.1% below Natl Avg
- College Attainment: 28.9%
- Net Migration: 12,770
Citing Tampa-St. Petersburg's proximity to two major military installations, MacDill Air Force Base and the Coast Guard Air Station in Clearwater, Tampa universities, attractions, culture and award-winning beaches 'exert a significant amount of influence on the area' including medical and high-end technology R&D.
Curious about neighborhoods, you might also enjoy reading:
- Moving to Tampa | Where to Live: A Tampa Neighborhoods Guide
- Spotlight | Culbreath Isles, Its History, Heritage and Homes
- Davis Islands, Its Real Estate Moguls, History and Intrigue
- Spotlight on Luxury Condominium Living | Tampa's Bayshore and The Islands
- 813 Spotlight | Kerin Clarkin Tampa South Shore Realty
- Local Real Estate in Tampa and Real Estate Agents in Tampa
- Forbes Ranks Orlando as Top City Americans are Moving To.
For those of us who live here, we see the value each and every day! If you are new to the area and/or looking for a place to invest your money, look no further than Tampa-St. Petersburg.
