Is Tampa Florida a good market?

Question

I would look into Tampa I have been investing in Tampa for the past 20 years.

Tampa continues to rank as one of the best cities in the U.S. for real estate investing, with a booming economy and strong job growth, along with affordable investment properties featuring generous cash flow and equity growth.

Here are 5 top reasons why Metro Tampa Bay is one of the strongest real estate markets for real estate investing in the country. They include:

Growing Economy

Job Growth

Population Growth

Investment Property Affordability

Cash Flow and Equity Growth

Growing Economy

Tampa’s growing economy is largely a result of a city government that advocates for economic development that has furthered a real estate investment boom, making Tampa one of the most popular destinations for millennial entrepreneurs. So much so, these entrepreneurs are called “Tampreneurs.”

Tampa has the diversified economy millennials seek, led by financial services, STEM-related occupations, health care, research, education, tourism, retirement, and military bases all making significant contributions to jobs and growth. The local economy is worth about 130 billion dollars, putting Tampa Bay among the fastest-growing metros in the country.

Furthermore, businessmen Jeff Vinik, owner of the Tampa Bay Lightning hockey team, and Bill Gates have partnered to invest in Tampa. Together, they formed Strategic Property Partners, the driving force behind downtown Tampa’s most ambitious redevelopment project, Water Street Tampa. This nine million square foot multi-use project on the Tampa waterfront will consist of commercial, residential, educational, entertainment, cultural, and retail space. The total investment will exceed three billion dollars.

Jorge Vazquez · Answer

East Tampa, Seminole Heights, Sulphur Springs, South St Pete.  A little more up north Pasco and Polk county. 20 years of investing in the area.

Jared Prevost · Answer

I think it's important to ask yourself what it means to be a "good" market... every market is good for something.

As a general approach, some solid macro fundamentals to look at include population growth, employment growth and type of employment/major employer diversity. I also look at the potential upside, is there a lot of distressed inventory that can be renovated? Is the city making any top 10 lists? 10 years from now, would you want to live in this city?

As far as Tampa goes, the metropolitan statistical area has grown by over 1% a year for 3 years in a row, which is very strong. Over the next 10 years, the Tampa labor market is expected to grow by over 40%, far exceeding the US average. All 10 of Tampa's largest employers are in different industries which is all fantastic.

On the topic of potential upside, Tampa has an impressive inventory of distressed single-family homes and there are no major geographical barriers preventing growth to the East or North. Tampa is also on many top 10 lists both for those looking to retire and for young professionals. As long as it doesn't go underwater, I don't have any doubts that Tampa will remain a strong market and see significant long-term real appreciation making it a solid market to invest in

Vanessa Li · Answer

Thanks @Jorge Vazquez. What areas in Tampa is still good for cash flow?

Vanessa Li · Answer

@Jorge Vazquez Thanks. It's very helpful. I will check out these neighborhoods.

Luke Rorech · Answer

@Vanessa Li avg prices are up 20% over the last year, whereas rent is "only" up 7%. So it isn't as easy to find a solid rental but I've found being quick to act and having creative vision really helps.

Luke Rorech · Answer

All good points @Jorge Vazquez

Is Tampa Florida a good market?

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