Tampa Bay Homes 7th Most Affordable in Florida in January 2016

Tampa Bay homes are still affordable despite the continuing increase in home prices in the area. Based on Florida Realtors’ data on the median sale prices of single-family homes across Florida in January 2016, the Tampa-St. Petersburg-Clearwater metropolitan statistical area (MSA), or the Tampa Bay metro area, is the seventh most affordable housing market among the 20 MSAs across Florida.

The median sale price of Tampa Bay homes in January — $173,950 — was even 12.6% lower than the statewide median sale price, which was $199,000.

MEDIAN SALE PRICES OF SINGLE-FAMILY HOMES IN JANUARY 2016

Rank Metro Statistical Area (MSA) Median Sale Price
1 Ocala $105,000
   (Marion County)
2 Deltona-Daytona Beach-Ormond Beach $150,000
   (Volusia County)
2 Lakeland-Winter Haven $150,000
   (Polk County)
3 Pensacola-Ferry Pass-Brent $150,450
   (Escambia and Santa Rosa Counties)
4 Palm Bay-Melbourne-Titusville $164,038
   (Brevard County)
5 Panama City-Lynn Haven-Panama City Beach $173,000
   (Bay County)
6 Tampa-St. Petersburg-Clearwater $173,950
   (Hernando, Hillsborough, Pasco and Pinellas Counties)
7 Crestview-Fort Walton Beach-Destin $177,000
   (Okaloosa County)
8 Sebastian-Vero Beach $180,000
   (Indian River County)
8 Punta Gorda $180,000
   (Charlotte County)
9 Gainesville $180,650
   (Alachua and Gilchrist Counties)
10 Tallahassee $182,000
   (Gadsden, Jefferson, Leon and Wakulla Counties)
11 Palm Coast $189,550
   (Flagler County)
12 Jacksonville $195,000
   (Baker, Clay, Duval, Nassau and St. Johns Counties)
13 Orlando-Kissimmee-Sanford $202,000
   (Lake, Orange, Osceola and Seminole Counties)
14 Port St. Lucie $205,000
   (Martin and St. Lucie Counties)
15 Cape Coral-Fort Myers $233,000
   (Lee County)
16 North Port-Bradenton-Sarasota $252,000
   (Manatee and Sarasota Counties)
17 Miami-Fort Lauderdale-Pompano Beach $280,000
   (Broward, Miami-Dade and Palm Beach Counties)
18 Naples-Marco Island $447,000
   (Collier County)
Statewide $199,000

The Tampa Bay real estate market maintained its affordability despite its big leap in price. Compared to January last year, the median sale price for single-family homes this January 2016 moved up by 20%, the third biggest jump among all metro markets. Only Port St. Lucie and Cape Coral-Fort Myers moved up faster year over year.

Rate of Increase in Median Sale Price from January 2015 to January 2016:

Rank Metro Statistical Area (MSA) Rate of Increase
in Median Sale Price
1 Port St. Lucie 23.1%
   (Martin and St. Lucie Counties)
2 Cape Coral-Fort Myers 22.6%
   (Lee County)
3 Tampa-St. Petersburg-Clearwater 20.0%
   (Hernando, Hillsborough, Pasco and Pinellas Counties)
4 Palm Coast 18.8%
   (Flagler County)
5 Lakeland-Winter Haven 17.4%
   (Polk County)
6 Palm Bay-Melbourne-Titusville 17.2%
   (Brevard County)
7 North Port-Bradenton-Sarasota 15.9%
   (Manatee and Sarasota Counties)
7 Sebastian-Vero Beach 15.9%
   (Indian River County)
8 Deltona-Daytona Beach-Ormond Beach 15.4%
   (Volusia County)
9 Jacksonville 14.7%
   (Baker, Clay, Duval, Nassau and St. Johns Counties)
10 Orlando-Kissimmee-Sanford 14.4%
   (Lake, Orange, Osceola and Seminole Counties)
11 Tallahassee 13.8%
   (Gadsden, Jefferson, Leon and Wakulla Counties)
12 Naples-Marco Island 13.2%
   (Collier County)
13 Gainesville 10.8%
   (Alachua and Gilchrist Counties)
14 Punta Gorda 9.0%
   (Charlotte County)
15 Ocala 8.8%
   (Marion County)
16 Miami-Fort Lauderdale-Pompano Beach 7.7%
   (Broward, Miami-Dade and Palm Beach Counties)
17 Pensacola-Ferry Pass-Brent -1.2%
   (Escambia and Santa Rosa Counties)
18 Panama City-Lynn Haven-Panama City Beach -2.1%
   (Bay County)
19 Crestview-Fort Walton Beach-Destin -3.9%
   (Okaloosa County)
Statewide 13.7%