Real estate market conditions in the Tampa bay continue to grow. Tampa has been ranked as one of the best in the nation.
The Tampa real estate market was ranked as one of the top markets for real estate investment by CNN money. Most of the top ten were comprised of cities in Florida. Investors are drawn in from no state income tax, low-interest rates, and sunshine.
Daytona Beach moved into second while Fort Myers took fifth. Orlando ranked fourth, Ft. Lauderdale number eight and Tampa at number nine. The other five cities in the top ten rankings were Las Vegas (No.1), Detroit (No.3), Warren, Mich. (No.4), Bakersfield, Calif., (No.7) and Rochester, N.Y. (No. 8).
First of all, trends in Tampa show a 7% year-over-year rise in the median sales price and a 2% rise in median rent per month.
From Wikipedia, Census data showed an average annual growth of 2.47 percent for approximately 97,000 residents per year. Between 2000 and 2006, the Greater Tampa Bay Market experienced a combined growth rate of 14.8 percent, from 3.4 million to 3.9 million people. The bay area hit the 4 million population mark on April 1, 2007. A 2012 estimate shows the Tampa Bay area population to have 4,310,524 people.
Tampa was ranked as the 5th best outdoor city by Forbes in 2008.
Consequently, Tampa also ranks as the fifth most popular American city based on where people want to live. According to a 2004 survey by the NYU newspaper, Washington Square News ranked Tampa as a top city for “twenty-somethings.” Tampa is ranked as a “Gamma+” world city by Loughborough University. This list includes other world cities such as Phoenix, Charlotte, Rotterdam, and Santo Domingo.
Tampa’s climate shows characteristics of a tropical climate and a humid subtropical climate zone.
Tampa’s climate generally features hot summer days with frequent thunderstorms. Average highs range from 70 to 90 °F (21 to 32 °C) year-round, and lows 52 to 76 °F (11 to 24 °C).
Tampa’s official recorded high has never hit 100 °F (37.8 °C). The all-time record high temperature is 99 °F (37 °C), recorded on June 5, 1985. The highest temperature recorded at Tampa International Airport for the Summer of 2015 was 97 degrees Fahrenheit (36 degrees Celsius), which took place on July 11. But the humidity raises the heat index above 100.
Coincidentally, the Tampa real estate market is split between two USDA climate zones. The northern zone is where coconut palms and royal palms can be grown. Southern Tampa has much more tropical foliage than the northern parts of the city.
Finally, temperatures are warm to hot from around mid-May through mid-October. This roughly coincides with the rainy season. Summertime weather is very consistent from June through September. Daytime highs near 90 °F (32 °C), lows in the mid-70s °F (23–24 °C), and high humidity are the norm.
Afternoon thunderstorms are such a regular occurrence during the summer that the Tampa Bay area is recognized as the “Lightning Capital of North America.”