Real Estate Investing in Tampa, Florida (33602)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 33602 (Tampa, FL)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Elevated vacancy: 11.8% vacancy may signal weakening demand.
- 1-year downturn: Values declined 4.4% in the last year.
What’s happening in Tampa, FL (33602)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 33602 Tampa
ZIP 33602 in Tampa, FL carries a sturdy set of headwinds. Home values near $522K and rents of $2,707/mo sit inside a market where underwriting has to be tight.
The 33602 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
On the rental side, 33602 offers a low basis, the region around Tampa has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A significant renter share of 68% in 33602 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 33602 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Tampa:
Property Strategy for 33602
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $370,320 | $2,550 | 5.0% | +5.4% | $370,320 |
| 2BR | $498,690 | $2,970 | 4.3% | +5.5% | $249,345 |
| 3BR | $663,766 | $3,800 | 4.1% | +7.4% | $221,255 |
| 4BR | $993,714 | $4,620 | 3.3% | +10.1% | $248,428 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 33602 Compare?
| Metric | 33602 | Tampa | Tampa-St. Petersburg-Clearwater, FL | Florida |
|---|---|---|---|---|
| Home Value | $522,240 | $413,704 | N/A | $374,697 |
| 5-Year CAGR | 3.4% | 5.0% | N/A | 7.4% |
| Avg Rent | $2,707 | $2,087 | N/A | - |
| Cap Rate | 4.0% | 3.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 33602 (Tampa, FL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 33602 (Tampa, FL)?
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Property managers serving Hillsborough County
Manage rentals here? List your business →Dennis Property Management offers rental agency and management services in the Tampa Bay area, including multi-family management, investor packages, and resources for homeowners and tenants. summary from their website
Gain Property Group offers commercial real estate brokerage, property and asset management, and investment opportunities. summary from their website
Ocean Blue Property Management offers residential, multi-family, commercial, and vacation property management services in Tampa Bay and Fort Myers. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $522,240 |
| Monthly Rent | $2,707 |
| Price-to-Rent | 16.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.0% |
| 5-Year IRR | 7.5% |
📈 Home Appreciation
| 1-Year | -4.4% ▼ |
| 3-Year CAGR | -2.8% ▼ |
| 5-Year CAGR | +3.4% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 Rent Trends
| 1-Year | -1.8% ▼ |
| 3-Year CAGR | +0.5% ▲ |
| 5-Year CAGR | +3.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 33602
Population: 19,694
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 33602
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 4,281 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average home sale price in Tampa, FL?
Median home price in Tampa, FL is near $522K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
How do landlord-tenant laws work in Tampa, FL?
Rental owners in Tampa, FL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Should investors worry about vacancy in Tampa, FL?
Expect elevated vacancy in Tampa, FL. Rents at $2,707/mo are absorbed by the tenant base without meaningful lag.
Is Tampa, FL good for house hacking?
House hacking works a challenging in Tampa, FL. Rents of $2,707/mo against $522K acquisition make the strategy solid for owner-occupants.
How qualified is the tenant pool in Tampa, FL?
Tampa, FL offers a even-keeled renter base at the $2,707/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 33602 now. You don’t know where it ranks.
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How 33602 ranks in Tampa-St. Petersburg-Clearwater, FL
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