The Burg, and the entire Tampa Bay region, has polished off its share of trophies this past year. Whether ranking as a top destination for staycations, holidays like St. Patrick’s Day and Halloween, a premier destination for startups, or the number one area where people are moving to in the U.S., the Sunshine City still holds onto the modesty and charm that’s made it a hidden paradise for so long.
Business and arts boom fuel Tampa Bay growth
Downtown’s business boom, mixed with rising class sizes at USFSP, Eckerd and SPC and our revamped and growing arts and food scenes, have assisted in growing the home values in our area. At the start of 2017, Forbes released a list of the Top U.S. cities to invest in housing. St. Pete and Tampa ranked in at 7.
Over the past three years, Tampa Bay’s population has grown 4.5% with a year-over-year job growth of 2.6%. The bustle has put a high priority on land in the historic district near downtown (i.e. Old Northeast, Kenwood, Uptown). Home prices have risen more than 9%.
Florida continues to be a state for smart investments
To create the list, and crunch the numbers, Forbes teamed up with Local Market Monitor, a North-Carolina-based company that tracks more than 300 housing markets. The state of Florida has had strong showings on this list the past two year. 7 Florida cities made the cut in 2016, and 4 made it this year.
The researchers note that these investment won’t yield immediate gains. In an article by Forbes writer Samantha Sharf, CEO of Local Market Monitor Ingo Wizner stated, “If you are planning on making an investment, either by buying a home or by buying a rental property, these are really good markets . . . These are markets where you can make an investment, you are probably going to get a good return and you are not taking an extraordinary risk.”