Are you looking to invest in Tampa, FL real estate?
Tampa has always been among the top 10 of in-demand real estate across the nation. Purchasing rental properties here is lucrative since it’s still considered as a fast growing city. People move here because properties are affordable, the unemployment rate is significantly lower and it’s a tax-friendly area.
Due to plenty of people moving to Tampa, the demand for housing still remains high. This is an opportunity that investors maximize to generate more income and grow their wealth. In Tampa, you have your choice of neighborhoods, each matching a different price range. By focusing on what kind of property you’re budgeting for and your target demographics, you can begin your journey as a real estate investor.
In this article, we here at Cavalier Estates LLC will go over the top areas in Tampa that you could consider for your next property investment. You’ll learn about the neighborhoods that are most promising for real estate investors in this part of Florida.
Best Tampa Neighborhoods to Buy Real Estate
The recent move to transform Downtown Tampa into an entertainment and cultural hub makes it an exciting neighborhood to invest in. This means tourists and locals will keep moving to this area to enjoy the attractions it offers.
Some of the things that residents and vacationers can enjoy in Downtown Tampa are concerts, festivals, museums and waterfront activities such as paddle boarding and kayaking. Residential properties are in demand in this area since families enjoy the recreation offered here.
Tampa Channel District
Another area of Tampa that has seen a facelift from a warehouse-occupied area into a cool neighborhood is Tampa Channel District. It’s now teeming with upscale condo units, luxurious homes and hip apartments.
In congruence with the urban and trendy vibe of Tampa Channel District are fancy restaurants, popular bars and chic shops. The population continues to grow, massively attracted to the contemporary lifestyle scene this neighborhood offers. The entertainment that Tampa Channel District provides, from arts and culture to music, ensures that residents and renters will constantly be enamored in experiencing its offerings.
Although man-made, Davis Islands remains an idyllic setting to raise a family. You’ll find green spaces, waterfront homes, dog parks and a conducive place for outdoor recreation. It’s proximity to the beach makes it an inviting place to reside or rent.
Investing in property here can require an above average budget. However, its limited area also makes it attractive since traffic is nil. Your target market is also clear since you’re mainly working to capture the interest of families. Those who value a high quality living for their kids as well will be taken to living in Davis Islands.
Historic Hyde Park
Considered an affluent neighborhood, Historic Hyde Park is a worthwhile investment. The property values in this area remain consistently high. Its miles of green space near the waterfront makes it a breathtaking area to live in. This charming neighborhood has top ranking quality schools and zero crime rate.
Most people would pay for this kind of peace of mind. Thus, investing might require higher funds but the potential for income is also great.
Residents can frequent stylish shops and restaurants around the area. They can also shop for organic produce at the farmers markets and purchase one-of-a-kind craft items during the weekend art bazaars. Aside from that, Historic Hyde Park offers fun entertainment drawing the younger set.
Tampa Heights and Seminole Heights
Focusing on cosmopolitan entertainment, Tampa Heights and Seminole Heights provides cultural recreation to its residents. You can find a hub of art galleries, quaint dining spots and fashionable boutiques. As an investor, you will want to purchase luxury apartments where hip and urban residents will be looking to stay in.
Tampa and Seminole Heights is also ideal for families since there are several family-friendly spots in this neighborhood. Some are looking for urban dwellings where they can catch up with the luxurious and trendy lifestyle.
You can also target young professionals who enjoy the lifestyle scene that Tampa and Seminole Heights offer. Properties you can check are hip loft-style apartments. The artsy vibe of the area plays a major attraction to its residents.
As an investor, you’ll do well to purchase properties like Tampa and Seminole Heights given its property values are in an upward climb, even as recently as 2019.
Exuding a resort vibe straight from its planned communities, New Tampa continuously attracts families. You can take your pick among the various selection of properties available. You’re bound to find something that matches your budget.
New Tampa’s amenities are irresistible to residents given that there are well constructed facilities aimed at providing a healthy lifestyle. Among the amenities that one can enjoy here are excellent golf courses, well paved paths for hiking and biking and well-maintained sports fields and courts. Residents are also able to find their favorite food and retail chains around the neighborhood.
Nicknamed as a strawberry capital, Plant City draws visitors in droves during their annual Strawberry Festival. As an investor, you can capitalize on this highly popular tourist attraction.
Plant City is a charming small town that also contains historic buildings. You can take your pick when it comes to purchasing simple home properties to larger stately manors. Although Plant City does not offer metropolitan entertainment, its unique charm makes it a delightful destination. Thus, you might want to put up short-term rentals in this area.
In a Nutshell: Best Real Estate Markets in Tampa
Tampa has always enjoyed its prominent place in the top list as a hot real estate given its consistent appreciation in terms of property values. The strong redevelopment of its different neighborhoods is also encouraging. Moreover, Tampa is tax-friendly so the population is seen to further increase over the long term.
If you are looking to purchase Tampa real estate, you may want to consider Downtown Tampa, Tampa Channel District, Davis Islands, Historic Hyde Park, Tampa Heights and Seminole Heights, New Tampa and Plant City.
Don’t hesitate to contact us today if you have questions about investment opportunities in Tampa, FL!