APRIL2019 Tampa Metro
Total Page:16
File Type:pdf, Size:1020Kb
APRIL2019 Tampa Metro National Rents Current: $1,477 Monthly Change: 0.2% Annual Change: 2.6% Tampa Metro Rents Current: $1,446 Monthly Change: 0.3% Annual Change: 4.8% Breakeven Horizon 1.4 years Major Cities - Rents Tampa Current: $1,428 Monthly Change: 0.4% Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community Annual Change: 6.2% City ZRI Year-over-Year Breakeven Horizon: 1.3 years -0.2% -0.1% - -0.1% 1.3% - 2.8% 2.9% - 4.5% 4.6% - 6.1% 6.2% - 8.8% 8.9% - 16.6% Saint Petersburg Metro Cities: Top/Bottom by Annual Rent Appreciation Current: $1,428 Top: Bottom: Monthly Change: 0.6% Weeki Wachee Gardens 16.6% Redington Beach -0.2% Annual Change: 5.9% Saint Pete Beach 12.9% Hernando Beach -0.1% Breakeven Horizon: { South Pasadena 8.8% North Redington Beac 1.3% Clearwater Treasure Island 7.9% Indian Shores 2% Current: $1,503 Gulfport 7.7% Odessa 2.1% Monthly Change: 0.5% Annual Change: 4.1% Metro Neighborhoods: Top/Bottom by Annual Rent Appreciation Breakeven Horizon: 1.3 years Top: Bottom: Davis Island 10.1% Snell Isle -2.8% New Port Richey Isla Del Sol 10% Cory Lake Isles -1.1% Current: $1,290 Courier City 9.5% Pacido Bayou -0.7% Monthly Change: 0.4% Southeast 8.5% Maximo -0.2% Annual Change: 5.2% East Madison 8.4% Arbor Greene 0.4% Breakeven Horizon: 1.3 years How do we measure rents? To track rents, we use the Zillow Rent Index (ZRI). The Riverview ZRI is the midpoint of estimated rents in a given region. Half the estimated rental prices Current: $1,504 are above this number and half are below. Monthly Change: 0.3% What is the Breakeven Horizon? The Breakeven Horizon in the number of years you Annual Change: 4.6% must live in a home before owning the same home becomes more financially advantageous Breakeven Horizon: 1.7 years than renting the home. For example, if 'City X' had a Breakeven Horizon of 5.5 years, it is financially better for you to rent in 'City X' unless you plan on living there for more than 5.5 years. www.zillow.com/research/ APRIL2019 Largest Cities Covered by Zillow Breakeven Horizon (yrs) Rents (ZRI) All Homes ($) Rents (ZRI) YoY (%) Median rent list price ($) Rent estimate/sq. ft. ($) Breakeven Horizon (yrs) Rents (ZRI) All Homes ($) Rents (ZRI) YoY (%) Median rent list price ($) Rent estimate/sq. ft. ($) Brandon 1.5 1,478 5.4 1,500 0.9 Pinellas Park 1.2 1,356 4.6 1,500 1.2 Brooksville 1,083 5.9 0.8 Plant City 1.2 1,399 6.6 1,430 0.9 Citrus Park 1.5 1,582 3.3 1,800 1 Port Richey 1,065 6.1 1,150 0.9 Clearwater 1.3 1,503 4.1 1,700 1.2 Riverview 1.7 1,504 4.6 1,600 0.9 Dunedin 1.2 1,528 5.4 1,650 1.2 Ruskin 1.7 1,462 4.7 1,620 0.9 Egypt Lake-Leto 1.2 1,323 5.9 1 Saint Petersburg 1,428 5.9 1,600 1.3 Greater Carrollwood 1.5 1,533 5.4 1,480 1 Seminole 1.5 1,562 4.4 1,700 1.2 Holiday 1,055 5.5 1,080 0.9 Spring Hill 1.1 1,263 5.6 1,350 0.8 Hudson 1.2 1,309 5 1,360 0.8 Tampa 1.3 1,428 6.2 1,600 1.2 Lake Magdalene 1.4 1,545 4.7 1,320 1 Tarpon Springs 1.4 1,665 4.5 1,740 1.1 Land O Lakes 1.8 1,634 4.6 1,680 0.9 Town 'n' Country 1.3 1,434 3.9 1,400 1 Largo 1.3 1,372 3.8 1,440 1.2 University 1,104 3.8 1.1 Lutz 1.8 1,701 3.5 1,800 1 Valrico 1.8 1,643 3.9 1,750 0.8 New Port Richey 1.3 1,290 5.2 1,300 0.9 Wesley Chapel 1.7 1,582 3.1 1,700 0.9 Palm Harbor 1.7 1,653 4.1 1,750 1.1 Zephyrhills 1.2 1,151 5 1,200 1 Largest Neighborhoods Covered by Zillow Breakeven Horizon (yrs) Rents (ZRI) All Homes ($) Rents (ZRI) YoY (%) Median rent list price ($) Rent estimate/sq. ft. ($) Breakeven Horizon (yrs) Rents (ZRI) All Homes ($) Rents (ZRI) YoY (%) Median rent list price ($) Rent estimate/sq. ft. ($) Bayshore Beautiful 1.8 2,565 3.6 1.6 North Tampa 1,139 3.4 1.2 Central Oak Park 1,296 4.8 1.2 Northeast Macfarlane 1,378 5 1.1 Disston Heights 1.3 1,415 5.6 1,400 1.2 Old Seminole Heights 1,322 6 1.1 East Tampa 1,213 4.2 1,300 1 Plaza Terrace 1.2 1,435 5.1 1 Forest Hills 1.1 1,356 4.8 1 Sulphur Springs 1,158 5.3 1.1 Gandy 1,488 6.4 1,970 1.2 Tampa Palms 2.1 1,759 4.2 0.9 Greater Pinellas Poi 1,534 2.4 1.1 Temple Crest 1,231 3.5 1 Lowry Park Central 1,268 4.2 1.1 Terrace Park 1,310 4 1 New Tampa 2.1 1,734 5.4 0.8 University Square 1,234 3 1.1 North Hyde Park 1.9 1,713 7.1 1.7 West Meadows 2.1 1,571 2.4 1,320 0.9 *Top cities and neighborhoods by size within the metro are listed. Additional counties, cities, neighborhoods and zip codes may be available online at www.zillow.com/research/data or by emailing [email protected] Zillow Research: Zillow R is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow's Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), and headquartered in Seattle. www.zillow.com/research/.