Home values across Tampa Bay remain significantly higher than the national average, as revealed by recent Zillow data. In August, the typical home value in the U.S. was $362,143, a 2.5% increase from the previous year. Meanwhile, Tampa Bay counties are seeing even more dramatic price hikes, positioning them among the most expensive in the nation.
Rising Mortgage Rates Intensify Housing Costs
Beyond rising home prices, high mortgage rates are making the cost of homeownership even steeper. As of September, the 30-year fixed mortgage rate stands at 6.09%, leading to higher monthly payments. While home values have soared across the country, some cities are shouldering a greater burden due to factors like location, size, and condition.
Manatee and Sarasota Counties Lead the Way
In the Tampa Bay region, Manatee County claims the highest home value at $447,177. Sarasota County follows closely with homes averaging $443,763. These counties continue to experience a surge in property values, reflecting their desirability and economic growth.
Wealthiest ZIP Codes in Tampa Bay
A study by The Business Journals, based on Zillow’s Home Index, highlighted several Tampa Bay ZIP codes among the nation’s 1,000 wealthiest areas. Here’s a breakdown of some standout locations:
- Tampa, 33629: Income per capita: $87,653, typical home value: $999,131, poverty rate: 3.40%
- Belleair Beach, 33786: Income per capita: $95,019, typical home value: $1,020,845, poverty rate: 6.60%
- St. Petersburg, 33704: Income per capita: $83,952, typical home value: $759,999, poverty rate: 5.80%
High Home Values in St. Petersburg and Seminole
St. Petersburg boasts several areas with impressive home values, including ZIP code 33785 with a typical home value of $826,487. Indian Rocks Beach and Seminole also rank among the wealthiest in the region. These communities are recognized for their luxurious properties and high-income households, solidifying their places on the national stage.
Tampa Bay’s Top-Performing Counties
While Tampa Bay shines, other regions in the U.S. hold even higher property values. According to Zillow, the top five U.S. counties with the highest home values are:
- Nantucket County, Massachusetts: $2,731,555
- Pitkin County, Colorado: $2,394,335
- Teton County, Wyoming: $2,209,317
- Santa Clara County, California: $1,597,328
- San Mateo County, California: $1,549,979
Tampa Bay Continues to Climb
While these national leaders boast astronomical home values, Tampa Bay counties are on a fast track, driven by strong demand, economic opportunity, and a growing population. As the housing market continues to evolve, these areas will likely remain some of the most desirable and costly in the U.S.
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