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Tampa Bay Home Values Come Out Ahead

In Tampa-St. Petersburg-Clearwater, a recent survey found home prices saw an upswing. The urban and suburban areas expanded last year, but the urban center tended to surpass the suburban core. The report looked at rises in home valuation and rent rises in major metros across the country, including Florida’s quartet of major metro areas.

Home prices in metropolitan areas rose just over fourteen percent in the metro area of Tampa and a little more than eleven percent in the suburbs. The median urban home has a value of about $258,000, while the average suburban home hovers around $250,000.

As home prices in Tampa Bay rose last year, the rent also followed suit. In 2020, urban Tampa apartments saw rent increases of about six percent, while suburb rent also saw a boost of just over seven percent. In these groups, Tampa Bay had the highest rise in home prices, as well as some of the heftiest rent increases when evaluating Florida’s major cities.

Urban home prices increased by a little more than six percent in Miami’s metro area, while residential homes saw growth of over seven percent. Likewise, urban rentals increased by just over two and four percent in the metro and the suburbs, respectively.

The home valuation of the Orlando metro region also saw 2020 growth, with urban homes increasing by over eight percent and suburban homes growing by more than seven percent.

To read more, visit https://www.bizjournals.com/tampabay/news/2021/02/08/tampa-metro-area-home-values-outpaced-floridas-ot.html.

This update is by hard money loans Miami company Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on Florida hard money lending, please call 954-419-3536 or fill out our application.

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