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Hughes Shelton Group
Hughes Shelton Group
Wednesday, 04 November 2020 / Published in Housing Market, Investors, Local, Real Estate, South Tampa, Tampa Bay

Florida and Tampa home values projected to outpace much of the US by 2030

A recent report from Renofi projects the average home price for both U.S. states and major cities over the next 10 years, and has Florida and Tampa outpacing much of the U.S.

Tampa’s average home value is expected to rise to $509,036 by 2030 compared to an average of $266,000 in 2020. That $509,000 mark is the 22nd highest home value among the most populous cities in the U.S.

Within Florida, Tampa’s value is expected to be the second highest by 2030 behind only Miami at $658,904, the 15th highest value overall. Jacksonville is expected to have the 35th highest value; Orlando was not ranked.

Across the board, California cities are expected to lead the nation in home value. Of the top 10 cities for projected 2030 home value, California had six.

Florida is also expected to see major home value growth over the next year, according to the report. On average, a home in the Sunshine State is expected to cost $492,137, the 11th-highest value among U.S. states. California is expected to have the highest home values for any state, with Hawaii and Washington close behind.

To calculate the increase, Renofi looked at the average price of a home in each state and the 50 most populous cities in the U.S. To project out 10 years, it looked at values for September 2010 and September 2020. That rate of change was then used to calculate the 2030 values.

For Florida, prices have increased by 69.74 percent since 2010, from $152,000 to $258,000, according to the report. The average U.S. home value rose by 48.55 percent over the same span, for comparison.

The full report can be found here.

 


By Brendan Ward  – Digital producer, Tampa Bay Business Journal
Nov 2, 2020, 6:52am EST Updated Nov 2, 2020, 7:15am EST
Tagged under: Best Performing Cities, buy, Buyers, Coldwell Banker, Florida, Florida Real Estate, Hughes Shelton Realtors, HughesShelton, Luxury, Market, Real Estate, Sales, sell, Sellers, South Tampa, South Tampa Homes, Tampa, Tampa Bay, Tampa Real Estate
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Hughes Shelton Group is a team of real estate agents affiliated with compass, a licensed real estate broker and abides by equal housing opportunity laws. all material presented herein is intended for informational purposes only. information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. no statement is made as to accuracy of any description. all measurements and square footages are approximate. this is not intended to solicit property already listed. nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

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