If you’re looking for a lucrative investment opportunity to jump into 2025 with prosperity, look no further than Tampa Bay, Florida. Tampa Bay is one of the best markets for investment properties in the United States, and can very well be your key to success. Just when you think Tampa can’t get any better, the city continues to improve and provide a best of all words lifestyle for its residents. Tampa’s popularity and country-wide recognition is just beginning, and with that, the rental market will continue to stay hot and profitable for rental property owners.
When you think of Tampa Bay, you may think of the sunshine, new luxury downtown developments, highly ranked sports teams, and the beautiful beaches. These are only a few of the many aspects that make the Tampa Bay region one of the most sought-after destinations in the country right now. Tampa Bay is made up of a variety of neighborhoods, many of which are up-and-coming hotspots for rental property investments. Here are the top 5 up-and-coming Tampa neighborhoods to invest in right now!
1. Brandon, Florida
Brandon, Florida is one of the most popular up-and-coming Tampa Bay neighborhoods because of its convenient location and offerings. Brandon is a residential neighborhood located just 20 minutes east of Downtown Tampa, making it an attractive location for those who work, attend school in, or frequent the city. In addition, its close proximity to MacDill Airforce Base draws a large population of military members who are looking to live off base in a residential neighborhood.
With a mix of single-family and multi-familly properties, there is a wide variety of potential residential investment opportunities in Brandon, Florida. Not only is Brandon convenient for tenants, but also a profitable investment decision for rental property owners.
According to Zillow, the market summary for Brandon, Florida is as follows:
- Median rent for all bedrooms and property types: $2,150
- Month-over-month change: -$22
- Year-over-year change: -$50
- Available rentals: 187
- Average home value: $360,380
In addition to lucrative rental rates, Brandon, Florida investment properties continue to appreciate as the median sale price in Brandon has increased 5.1% over the past year.
2. South Tampa, Florida
South Tampa encompasses some of Tampa’s most desirable neighborhoods including Hyde Park, Harbour Island, David Islands, Bayshore Gardens and Palma Ceia. South Tampa’s neighborhoods are picturesque with tree-lined streets and walking distance to the beautiful Bay. South Tampa investment properties typically come at a higher price range, allowing rental properties to command higher rent rates. Therefore, while the initial investment may be costly, South Tampa rental properties are profitable and produce a significant ROI.
South Tampa is one of Tampa’s most sought-after areas, and continues to grow in popularity and development. In addition to beautiful residences and historic landmarks, South Tampa is well-known for its plethora of dining establishments and amenities, close proximity to beaches and schools, and short drive from the beaches.
3. Seminole Heights, Florida
Seminole Heights is a vibrant neighborhood known for its charming 20th century homes and active neighborhood. The Seminole Heights neighborhood has been growing in popularity and is one of Tampa’s best up-and-coming neighborhoods filled with eclectic shops and cafes, specialty restaurants, and a vibrant art scene. Located right outside of Downtown Tampa, Seminole Heights residents enjoy the suburban environment in addition to easy access to the city’s offerings and I-275.
If you’re looking to invest in a neighborhood consisting of mostly single-family homes, Seminole Heights is your place. Seminole Heights provides a traditional neighborhood living experience as the area is made up of mostly single-family homes, with apartments and condos very few and far in between.
According to Zumper, the market summary for Seminole Heights, Florida is as follows:
- Median rent for all bedrooms and property types: $1,895
- Month-over-month change: -12%
- Year-over-year change: -7%
- Available rentals: 36
- Average home value: $465,000
4. Wesley Chapel, Florida
Wesley Chapel is a suburb of Tampa Bay, located about 30 minutes from Downtown Tampa. Wesley Chapel differs from the other neighborhoods on the list because of its abundance of master-planned HOA communities and luxury lifestyle that appeal to families. Wesley Chapel provides the true “Florida lifestyle” with its gated communities, proximity to golf courses, and highly rated school systems.
The abundance of businesses such as restaurants, shops, and recreational facilities make Wesley Chapel a convenient and enjoyable destination for those seeking a comfortable rental experience. Because of its sharp increase in popularity, the up-and-coming neighborhood of Wesley Chapel is developing quickly, expecting major projects including potential downtown areas, made up of mixed-use facilities and hundreds of businesses.
Wesley Chapel is an excellent investment destination for three reasons:
- It is already one of the most popular areas in Tampa Bay.
- It’s expected development will draw an even larger population of renters. These factors will contribute to significant property appreciation which property owners will benefit from in the future if they choose to sell.
- Wesley Chapel boasts a high household median income of $124,572, ensuring many residents maintain steady financial health and the means to pay rent on time and in full.
According to Zillow, the market summary for Wesley Chapel, Florida is as follows:
- Median rent for all bedrooms and property types: $2,300
- Month-over-month change: -$95
- Year-over-year change: $-150
- Available rentals: 488
- Average home value: $422,360
5. Carrollwood, Florida
Carrollwood is another suburb of Tampa, known as a residential community with a peaceful environment. Carrollwood’s offerings include restaurants, parks, and close proximity to attractions such as Busch Gardens and ZooTampa at Lowry Park.
With a short and straightforward drive to Downtown Tampa, Carrollwood attracts working professionals and families who prefer to live outside of the hustle and bustle of the city. Communities like Carrollwood Village provide luxury living with amenities such as “shopping, dining, entertainment, activities, a premier members only country club, championship golf course, assisted living facilities and much more” according to their website. I highly recommend investing in a community that prioritizes the satisfaction of its residents to promote tenant attraction and retention for your rental property.
According to Zillow, the market summary for Carrollwood Florida is as follows:
- Median rent for all bedrooms and property types: $2,000
- Month-over-month change: +$20
- Year-over-year change: $+175
- Available rentals: 42
- Average home value: $407,098
Advice for Tampa Bay Rental Property Investors from a Tampa Property Manager
Investing in one of the up-and-coming neighborhoods of Tampa will be one of the best decisions you can make. The profitable nature of Tampa Bay rental properties allow investors to optimize their income and financial returns, earn property appreciation, save for retirement, and even earn a passive income with the help of a Tampa property management company.
Choosing the right neighborhood for your Tampa investment property can be difficult; there are so many beautiful neighborhoods with diverse offerings to choose from. At The Listing Real Estate Management, our team of property management professionals know the ins-and-outs of the Tampa Bay real estate market. We’ve helped Tampa property investors choose the right destination by evaluating their long-term and short-term goals, and we can do the same for you!
If you’re looking to invest in the Tampa Bay area and profit from the growing rental market, The Listing Real Estate Management is here to serve as your guide to success! To learn more about our services and choose one of the up-and-coming Tampa neighborhoods, contact us today at The Listing Real Estate Management, your boutique property management company!
Copyright © 2017-2024, The Listing Real Estate Management. All Rights Reserved.
