Are you considering
investing in Tampa, FL real estate? If so, then you’re on the right track. Tampa has a lot going for it right now, including a hot real estate market!
But what exactly makes Tampa real estate stand out from the rest in Florida and beyond? Firstly, the city offers amazing tourist attractions. Tampa is famous for its beaches, restaurants, museums, and parks making short-term rentals a big business.
Secondly, Tampa thrives as a metropolis of economic wealth and industry. The city is home to many of the Fortune 500 companies, like WellCare Health Plans Inc.
Thirdly, there is a high demand for housing. Generally, this is fueled by population increase from tourism and retirees.
In this article, we here at Advantage Realty Services will go over the top areas in Tampa that you could consider for your next property investment.
Best Tampa Neighborhoods to Buy Real Estate
Location, location, location – it’s every real estate agent’s mantra, and for good reason.
The right location can offer incredible returns on your investment, but the wrong one can result in significant losses. That’s because
location can have an impact on anything from appreciation values to vacancy rates and everything in between.
The following are qualities that make a real estate location ideal:
- Expected appreciation in the future
- High rental income
- Relatively low running costs
- Reasonable real estate prices
- Access to shopping and entertainment options
- Proximity to amenities and public services
With that in mind, here are some of the best locations in Tampa, FL.New Paragraph
University Square
University Square is a small neighborhood in the city of Tampa. Its residents enjoy a low cost of living, which makes it particularly popular with families and young professionals.
This cozy community offers great nightlife, plenty of diversity is had a high renter population. The area is also home to many good public schools making it great for family and young professionals alike.
The median home value is currently estimated at just over $91,000 with the median monthly rent price being estimated at just over $1000. University Square has gained popularity from new home buyers because buying a home here essentially allows you to get more space for less money.
Highland Pines
Highland Pines is located on the eastern side of Tampa. It’s estimated that 45% of the population in Highland Pines rents with the median monthly rent rates being estimated at just over $1000. Best of all, home prices have remained affordable.
The area offers outdoor spaces, restaurants and many other fun attractions and amenities for residents to enjoy.
The community is seeing
new investors take interest
in the neighborhood. They have increased people's interest in buying and renting homes in the area by buying, renovating, and selling properties. This, in turn, raises property values and has revamped the areas.
Tampa Heights
Tampa Heights is located slightly north of downtown and south of University Square. The entrance of new businesses and focus on revitalization efforts have allowed Tampa Heights to generate a lot of new attention. The area is also to many wonderful schools and offers great nightlife.
Tampa Heights has seen a rise in population, with the median home prices still remain relatively affordable at an estimated price of $217,307. This is a good bargain, especially considering how close they are to the downtown area. Best of all, about 67% of the population in this area are renters, meaning investors will have a wide tenant pool to market to.
Don’t wait to invest in this growing area, holding off could compromise your ability to see good returns on investment.
East Ybor
Ybor City is a unique community in northeast Tampa.
Home values have been on the rise recently and this can be attributed to real estate investors who have begun renovating the dated homes. Around 48% of the population in the area rent their homes with the median monthly rent priced at $1,030.
Ybor is home to great bars, fun nightlife, and delicious Cuban food. It continues to attract all sorts of people, including prospective renters who’d like to call it home.
Developers are also bringing in more business. As a result, more buyers are moving to the area, especially since median home prices remain relatively affordable.
In a Nutshell: Best Real Estate Market in Tampa
Tampa has consistently ranked among the top 20 locations to invest in real estate. This has resulted in high rental demand with homes still remain affordable. What’s more, the area is a top tourist destination.
If you are looking to buy Tampa real estate, consider the areas listed above. If you’re a first-time investor or looking to expand your portfolio,
Advantage Realty Services can help! Contact us to learn more about our property management services and the investment opportunities in Tampa, FL.
