Highlights of the Tampa Market
- Less than 5 months active inventory.
- Rated by several national publications as one of the top 10 places to move to.
- Unemployment under 5%
- Over ten percent price appreciation for each of the past two years
- STILL over 5% below the highs hit in 2007.
- Strong employment base. Not as “senior” oriented as are most Florida communities.
- Rapidly increasing population. Rated either first, second or third in the country depending on which source.
- Very low vacancy rate in rental properties, overall around 3%
- Still can buy affordable housing, unlike so many other metro areas.
Susan Taylor Martin, Times Senior Correspondent
Wednesday, February 22, 2017 11:24am
Read full article on Tampa Bay Times
Prices for single-family homes in the Tampa Bay area jumped 11.4 percent in January from a year ago, far higher than the statewide average and the highest of any major Florida metro area.
The number of sales that closed last month also rose significantly — up 10 percent — in a sign that the robust market that began in early 2016 will continue.
“Florida’s housing market continues to show positive momentum,” said Maria Wells, president of Florida Realtors, which released the figures Wednesday. “While existing inventory remains tight, Realtors across the state are reporting interest from both buyers and sellers — and with interest rates expected to rise over the next few months, now is certainly a good time to take action.”
Read full article on Tampa Bay Partnership
1. WORKFORCE
Tampa Bay ranked among the top 10 large metro areas for college-educated young talent on the move. The latest Census data reveals that young people aged 25 to 29 are increasingly more mobile and willing to move to new cities, very often in new states, in search of jobs.
2. K-12 EDUCATION
Florida leads the nation in high school seniors taking Advanced Placement exams at nearly 50 percent. Florida also ranks sixth in the nation for the percentage of students who score a 3 or higher on the AP exam at 23.9 percent, compared to the national average of 18.1 percent.
3. PROGRESSIVE TRAINING
An independent analysis of the CareerEdge Funders Collaborative by Urban Market Ventures found that the investments made by the nonprofit workforce-development program is producing millions of dollars in new wages and economic impact for the Tampa Bay region.
4. MILITARY INVESTMENT
Tampa Bay is home to MacDill Air Force Base, the only military installation that hosts two, four-star Combatant Commands, the U.S. Central Command and U.S. Special Operations Command. MacDill contributes $5 billion annually to the greater Tampa Bay economy.
5. AMAZING PARKS AND RECREATION
Tampa’s Curtis Hixon Park was named among America’s Best New Parks by The Atlantic Cities. Completed in 2011, the waterfront park serves as a more natural connection between the water, downtown, and the new Children’s Museum and Tampa Art Museum. Tampa Bay’s beloved public spaces spread throughout the region provide gathering places for families, friends, colleagues, and events from small to large scale.
6. PROMISING AND ADMIRED COMPANIES
Some of America’s most promising companies are located in Tampa Bay. Sarasota-based Internet communication systems and service provider, Star2Star Communications was named among America’s 100 Most Promising Companies in 2011 by Forbes. The company also made the 2011 Inc. 500 list of fastest growing private companies.
7. INNOVATIVE UNIVERSITIES
The University of South Florida is ranked 50th in the nation for research expenditures by the National Science Foundation among all U.S. universities, public or private, joining the ranks of Johns Hopkins, Stanford, Yale and Harvard.
8. EXPANSIVE MEDIA REACH
The Tampa Bay region is the 14th largest television media market in the country, with 1.79 million TV households, according to Nielsen Media Research. That means Tampa Bay has 1.6 percent of all television households in the United States. It is the largest market in Florida – surpassing Miami. If you’re looking for media exposure, you’ve found it.
9. LOW COST OF DOING BUSINESS
According to a KPMG business cost study, the Tampa Bay market is the nation’s lowest cost large market for Corporate Services, International Financial Services and Shared Services – a testament to strong business, financial and data services sector in Tampa Bay. KPMG’s 2012 Competitive Alternatives study measured 26 significant cost components over a 10 year planning horizon. Bottom line – Tampa Bay is a great place for business.
10. HOT ENTREPRENEURIAL ENVIRONMENT
According to FastCompany Magazine, Florida’s start-up environment is soaring high. From the HuB in Sarasota to Tampa Bay WaVE’s First WaVE program to large events such as Start-Up Weekend and initiatives like the Tampa Bay 6/20 Plan, Tampa Bay’s entrepreneurial environment is setting up for start-up success.
TAMPA, FLA. (PRWEB) JUNE 01, 2016
Read full article on PRWeb
Realtor.com’s latest relocation study has named Tampa as America’s top relocation destination. According to the new report, Americans are on the move as the country’s economy continues to grow and people are heading south to improve their quality of life and take advantage of Tampa’s affordable housing prices, strong job market, and no income tax status.
Tampa took the top spot in the study above Jacksonville, Charlotte, San Antonio, and Austin, which rounded out the top five, during a time that Realtor.com calls one of the “busiest” relocation periods in recent memory.
Realtor.com was quick to point out that this population shift is not in retirement age people, but among adults who are still in the workforce. The report highlighted that Florida had “unusually strong job creation,” so plentiful job opportunities are driving the trend to relocate to the Sunshine State. In another piece of research, Realtor.com identified Tampa as the third most popular relocation destination for Millennials.
“Attracting fast-growing Millennial-owned companies and young, highly skilled talent to our workforce will fuel our region’s prosperity for decades to come,” said J.P. DuBuque, Interim President & CEO of the Tampa Hillsborough Economic Development Corporation. “With the growing number of financial services and technology-focused companies relocating to and expanding in Tampa, our community is a perfect place for young professionals in industries like these to find their dream job, buy an affordable home, and enjoy an unparalleled quality of life.”
“The Realtor.com study echoes the research we have done,” added DuBuque. “Abundant career opportunities, affordability of housing, lower cost of living and lifestyle are the key factors influencing most Millennials’ relocation decisions. Tampa ticks all of those boxes.”
The report also identified a trend of Americans moving out of large markets in the Northeast and Midwest to move to smaller metros like Tampa to escape the winters and the high cost of living. Tampa’s median home price is $230,000 and its unemployment rate is low at 4.4%. The study also cites New York as the market in the U.S. losing the most population to Florida.
continue reading on Read full article on PRWeb
Find data on Tampa-St. Petersburg-Clearwater, FL – Bureau of Labor Statistics
Tampa-St. Petersburg-Clearwater, FL
| Data Series | Back Data | Aug 2016 | Sept 2016 | Oct 2016 | Nov 2016 | Dec 2016 | Jan 2017 |
|---|---|---|---|---|---|---|---|
Civilian Labor Force(1) |  | 1,469.8 | 1,477.0 | 1,480.3 | 1,479.9 | (p)1,481.5 | (p)1,492.0 |
Employment(1) | | 1,402.1 | 1,407.5 | 1,411.2 | 1,410.8 | (p)1,415.4 | (p)1,416.0 |
Unemployment(1) | | 67.6 | 69.5 | 69.2 | 69.1 | (p)66.1 | (p)76.0 |
Unemployment Rate(2) | | 4.6 | 4.7 | 4.7 | 4.7 | (p)4.5 | (p)5.1 |
Total Nonfarm(3) | | 1,296.9 | 1,300.8 | 1,313.1 | 1,324.9 | 1,328.7 | (p)1,308.8 |
12-month % change | | 3.9 | 4.0 | 3.4 | 3.1 | 3.1 | (p)3.0 |
Mining and Logging(3) | | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | (p)0.3 |
12-month % change | | -25.0 | 0.0 | 0.0 | 0.0 | 0.0 | (p)0.0 |
Construction(3) | | 70.8 | 71.2 | 72.3 | 73.3 | 75.3 | (p)74.2 |
12-month % change | | 8.1 | 7.9 | 7.7 | 8.4 | 11.7 | (p)11.6 |
Manufacturing(3) | | 65.1 | 65.1 | 64.9 | 65.3 | 65.0 | (p)64.8 |
12-month % change | | 3.8 | 3.7 | 2.7 | 3.0 | 2.5 | (p)2.7 |
Trade, Transportation, and Utilities(3) | | 247.3 | 247.4 | 247.5 | 254.9 | 257.7 | (p)250.5 |
12-month % change | | 3.9 | 4.0 | 2.2 | 2.5 | 2.1 | (p)2.2 |
Information(3) | | 25.7 | 25.5 | 25.1 | 25.5 | 25.5 | (p)25.8 |
12-month % change | | -0.4 | -1.5 | -3.5 | -2.7 | -3.4 | (p)0.8 |
Financial Activities(3) | | 108.0 | 108.0 | 108.6 | 108.6 | 109.0 | (p)108.3 |
12-month % change | | 3.2 | 3.5 | 3.4 | 2.5 | 2.7 | (p)2.8 |
Professional and Business Services(3) | | 232.2 | 232.2 | 237.2 | 238.3 | 239.0 | (p)232.2 |
12-month % change | | 5.7 | 6.3 | 6.9 | 6.0 | 5.8 | (p)3.8 |
Education and Health Services(3) | | 198.7 | 200.1 | 204.5 | 205.7 | 205.0 | (p)200.8 |
12-month % change | | 2.8 | 2.6 | 3.0 | 3.0 | 2.6 | (p)2.1 |
Leisure and Hospitality(3) | | 148.5 | 148.6 | 148.2 | 148.8 | 148.1 | (p)147.3 |
12-month % change | | 3.6 | 3.6 | 2.4 | 1.4 | 1.2 | (p)2.3 |
Other Services(3) | | 45.1 | 45.5 | 45.5 | 45.7 | 46.2 | (p)47.0 |
12-month % change | | 4.2 | 4.8 | 4.1 | 3.9 | 4.5 | (p)6.3 |
Government(3) | | 155.2 | 156.9 | 159.0 | 158.5 | 157.6 | (p)157.6 |
12-month % change | | 2.1 | 2.1 | 1.1 | 0.4 | 1.0 | (p)0.8 |
Footnotes | |||||||
| Data Series | Back Data | 2nd Half 2015 | 1st Half 2016 | 2nd Half 2016 |
|---|---|---|---|---|
Consumer Price Index: Tampa-St. Petersburg-Clearwater, FL | ||||
CPI-U, All items(1) | | 211.699 | 212.502 | 215.572 |
CPI-U, All items, 12-month % change(1) | 0.4 | 0.5 | 1.8 | |
CPI-W, All items(2) | | 211.230 | 211.734 | 214.375 |
CPI-W, All items, 12-month % change(2) | 0.0 | 0.3 | 1.5 | |
Footnotes | ||||
Data extracted on: March 17, 2017
Source: U.S. Bureau of Labor Statistics
Note: More data series, including additional geographic areas, are available through the “Databases & Tables” tab at the top of this page.