Tampa is a higher-priced market in the South with a mid-sized city of 404,636. At a 4.74% estimated cap rate, this is a moderate market where rents of $1,980/mo lag behind home prices. With a median home price of $355,000 and steady population growth supports long-term rental demand, Tampa offers opportunities for investors who source deals carefully.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
Tampa's 0.6% rent-to-price ratio is well below the 1% rule. At median prices of $355,000, the $1,980/mo rent produces only $1,403/mo in NOI. Investors here need to target below-median properties or pursue value-add strategies to make the numbers work.
At current rates, a 20% down conventional loan ($71K at 7%) would result in approximately $-486/mo cash flow — negative at median prices. Larger down payments, seller financing, or buying 15–25% below median are strategies to turn the numbers positive.
With 1.9% annual population growth paired with 4.2% home appreciation, Tampa offers a rare combination of current cash flow and future equity upside. The 14.9x gross rent multiplier suggests the market hasn't fully priced in this growth trajectory.
Pre-filled with Tampa medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Tampa.
Tampa, FL has a population of 404,636 and has been growing at 1.9% annually — above the national average, suggesting steady demand pressure on housing. The median home price of $355,000 paired with median rents of $1,980/mo produces an estimated cap rate of 4.74%.
Property taxes at 0.83% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 4.8% is impressively low, indicating tight rental supply and strong tenant demand — favorable for landlords.
At a price-to-income ratio of 6.0x, homes cost about 6.0 times the local median income of $58,700. This elevated ratio means homeownership is stretched, supporting rental demand but limiting buyer pools. Home values have appreciated at roughly 4.2% annually. Above-average appreciation adds an equity component to total returns, though deals should still pencil on cash flow alone.
Bottom line: Tampa presents moderate opportunities. Cap rates near 4.74% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.