Tampa Bay Real Estate
logo
Pages Navigation Menu
  • Home
  • Home Improvement
    • Hardwood Flooring
    • Flooring
    • Maid Service
    • Moving Company
  • Contact
  • Privacy Policy
  • Terms of Use

Tampa Bay Homes 12th Most Affordable Despite Price Increase

Area: sqft BHK:  Price: 
City:  Location: 

Among Florida’s 22 metropolitan areas, the Tampa Bay housing market is still among the most affordable as of the second quarter of 2015, according to the Housing Opportunity Index (HOI) of the National Association of Home Builders (NAHB) and Wells Fargo. The Tampa-St. Petersburg-Clearwater metro area is the 12th most affordable in Florida, based on second-quarter 2015 data.

Tampa-Bay-homes

The HOI refers to the percentage of homes for sale in a certain area which is affordable to the area’s families earning a median income, using standard mortgage underwriting criteria. The index uses median family income data issued by the U.S. Department of Housing and Urban Development and applies the assumption that a family is able to spend 28 percent of its gross earnings on home mortgage.

The median home price in the Tampa Bay area increased over the year by a big 15%, but homes are still affordable to median-income families because the area’s median family income also increased. The area’s median income rose over the year from $ 57,400 to $ 59,000, an increase of 2.8%.

FL RANK US RANK METRO HOI MEDIAN FAMILY MEDIAN SALES
AREA 2015 QTR2 INCOME PRICE
1 51 Ocala 83.8 $ 47,300 $ 100,000
2 63 Gainesville 81.6 63,800 150,000
3 63 Tallahassee 81.6 65,100 150,000
4 71 Lakeland-Winter Haven 80.4 50,300 125,000
5 78 Pensacola-Ferry Pass
-Brent 79.9 63,300 150,000
6 90 Palm Bay-Melbourne
-Titusville 78.4 61,900 144,000
7 104 Crestview-Fort Walton
Beach-Destin 76.8 67,500 182,000
8 108 Jacksonville 75.8 63,300 160,000
9 113 Deltona-Daytona Beach
-Ormond Beach 75.0 51,800 131,000
10 114 Panama City-Lynn Haven
-Panama City Beach 74.6 57,900 160,000
11 114 Punta Gorda 74.6 58,400 145,000
12 118 Tampa-St. Petersburg
-Clearwater 74.3 59,000 145,000
13 130 Orlando-Kissimmee
-Sanford 70.9 58,300 169,000
14 141 Sebastian-Vero Beach 68.6 59,000 165,000
15 146 Palm Coast 68.0 49,200 160,000
16 149 Port St. Lucie 67.8 53,300 154,000
17 156 North Port-Bradenton
-Sarasota 66.2 62,300 194,000
18 160 Fort Lauderdale-Pompano
Beach-Deerfield Beach 64.4 63,000 180,000
19 167 Cape Coral-Fort Myers 62.3 57,600 190,000
20 172 West Palm Beach
-Boca Raton-Boynton Beach 61.7 66,000 209,000
21 201 Naples-Marco Island 49.4 66,500 300,000
22 208 Miami-Miami Beach
-Kendall 45.8 50,100 222,000

Across the nation, the most affordable metropolitan housing market is Kokomo, Indiana.

The Ten Most Affordable Metro Housing Markets are:

1. Kokomo, Indiana
2. Davenport-Moline-Rock Island, Iowa-Illinois
3. Lima, Ohio
4. Elmira, New York
5. Cumberland, Maryland-West Virginia
6. Utica-Rome, New York
7. Elizabethtown, Kentucky
8. Battle Creek, Michigan
9. Fairbanks, Arkansas
10. Monroe, Michigan

The least affordable metro housing markets are in California, the most expensive of which is the San Francisco-San Mateo-Redwood City metro area.

The Ten Most Expensive Housing Markets are:

1. San Francisco-San Mateo-Redwood City, California
2. Los Angeles-Long Beach-Glendale, California
3. Santa Cruz-Watsonville, California
4. Santa Ana-Anaheim-Irvine, California
5. San Jose-Sunnyvale-Santa Clara, California
6. Napa, California
7. Salinas, California
8. Santa Rosa-Petaluma, California
9. New York-White Plains-Wayne, New York-New Jersey
10. San Diego-Carlsbad-San Marcos, California

Tampa Bay Housing Affordability Declined Compared to Other Metro Areas Nationwide

In the second quarter last year, the Tampa Bay housing market ranked 95th in HOI nationwide. In the same quarter this year, its HOI rank moved down to 118th. One of the factors is the big increase in Tampa Bay’s home prices. The median home sales price in the second quarter last year was $ 126,000. It shot up to $ 145,000 this year, representing a big increase of 15%.

Tampa Real Estate Blogs – Tampa Homes Blog – Real Estate Market Trends

Post Tagged with 12th, Affordable, Despite, Homes, Increase, Most, Price, Tampa

Recent Posts

  • Irene Sandiego, Tampa4u Realtor — Past Home Sales
  • Compare the 4 Most Popular Low-Down-Payment Home Loans
  • It’s March! The Best Month for Tampa Home Sellers to List
  • Builders Fulfill Homebuyers’ Desire for Large Open-Floor-Plan Homes
  • The Most Expensive Existing Condos for Sale in Tampa Are on Bayshore Blvd

Categories

  • Bungalow
  • General
  • Homes
  • Mansion
tampabayrealestatehomes logo

Real Estate Tampa FL
salesATtampabayrealestatehomes.com

Recent Posts

  • Irene Sandiego, Tampa4u Realtor — Past Home Sales
  • Compare the 4 Most Popular Low-Down-Payment Home Loans
  • It’s March! The Best Month for Tampa Home Sellers to List
  • Builders Fulfill Homebuyers’ Desire for Large Open-Floor-Plan Homes
  • The Most Expensive Existing Condos for Sale in Tampa Are on Bayshore Blvd

General Tampa Area

Today, Tampa is part of the metropolitan area most commonly referred to as the Tampa Bay Area. For U.S. Census purposes, Tampa is part of the Tampa-St. Petersburg-Clearwater, Florida Metropolitan Statistical Area. The four-county area is composed of roughly 2.9 million residents, making it the second largest metropolitan statistical area (MSA) in the state, and the fourth largest in the Southeastern United States, behind Miami, Washington, D.C. and Atlanta.[14] The Greater Tampa Bay area has over 4 million residents and generally includes the Tampa and Sarasota metro areas.

Tampa Areas

The city is divided into many neighborhoods, many of which were towns and unincorporated communities annexed by the growing city. Generally, the city is divided into the following areas: Downtown Tampa, New Tampa, West Tampa, East Tampa, North Tampa, and South Tampa. Well-known neighborhoods include Ybor City, Forest Hills, Ballast Point, Sulphur Springs, Seminole Heights, Tampa Heights, Palma Ceia, Hyde Park, Davis Islands, Tampa Palms, College Hill, and non-residential areas of Gary and the Westshore Business District.

Categories

  • Bungalow
  • General
  • Homes
  • Mansion
Terms Of Use | Privacy Policy | DMCA Policy