Buoyed by a robust labor market, growing interest from developers and investors, and a collection of "Tampapreneurs," redevelopment efforts in Tampa, Florida are being viewed favorably by experts.
According to Ali Wolf, director of economic research at Meyers Research, Tampa is a market "with something for everyone." Homeownership in this metro is more affordable than renting, and the market average price for a detached signle-family existing home is $185,000, and $270,000 for a new home. Tampa also has a vibrant retail sector, dynamic cultural history, enjoyable weather for more than half the year, and easy beach access.
The Tampa metro is currently the 18th largest in the US, behind markets like Detroit and Minneapolis. However, the tide may be turning for the market. The newly released data from the U.S. Census Bureau shows Tampa as the third best metro in the nation for net migration from 2016-2017. Within Tampa, Hillsborough County was the 11th best spot in the country for population growth from 2010-2016 for those aged 25-44 (Millennials and some Generation X).
