Real Estate Investing in Tampa, Florida (33604)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 33604 (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 middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Tampa, FL (33604)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 33604 Tampa
ZIP 33604 in Tampa, FL carries a notable set of headwinds. Home values near $325K and rents of $1,645/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 33604 can be a worth a close look for hunting ground — but the discount at $325K reflects genuine risk that outside investors often underestimate.
In the broader FL picture, 33604 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 33604 ZIP's population of 39,411 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reflects the need for careful underwriting.
New investors are better served looking at Tampa's stable or hybrid ZIPs before stepping into 33604. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Tampa:
Property Strategy for 33604
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $168,664 | $1,640 | 7.0% | +8.6% | $168,664 |
| 2BR | $265,821 | $1,910 | 5.2% | +8.0% | $132,911 |
| 3BR | $347,116 | $2,440 | 5.1% | +8.5% | $115,705 |
| 4BR | $388,965 | $2,970 | 5.5% | +8.9% | $97,241 |
| 5BR | $405,993 | — | — | +7.6% | $81,199 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 33604 Compare?
| Metric | 33604 | Tampa | Tampa-St. Petersburg-Clearwater, FL | Florida |
|---|---|---|---|---|
| Home Value | $325,333 | $413,704 | N/A | $374,697 |
| 5-Year CAGR | 4.9% | 5.0% | N/A | 7.4% |
| Avg Rent | $1,645 | $2,087 | N/A | - |
| Cap Rate | 3.9% | 3.9% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 33604 (Tampa, FL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 33604 (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 | $325,333 |
| Monthly Rent | $1,645 |
| Price-to-Rent | 16.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.1% |
| Cap Rate | 3.9% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +1.9% ▲ |
| 3-Year CAGR | +0.4% ▲ |
| 5-Year CAGR | +4.9% ▲ |
| 10-Year CAGR | +9.8% ▲ |
🏠 Rent Trends
| 1-Year | -5.0% ▼ |
| 3-Year CAGR | +0.5% ▲ |
| 5-Year CAGR | +3.7% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.9%). 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 33604
Population: 39,411
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 33604
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
FOREST HILLS ELEMENTARY SCHOOL
SHAW ELEMENTARY SCHOOL
BROWARD ELEMENTARY SCHOOL
NEW SPRINGS SCHOOLS
LAKE MAGDALENE ELEMENTARY SCHOOL
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 7,261 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How expensive is real estate in Tampa, FL?
Homes in Tampa, FL typically sell near $325K. Prices have moved at a 0.0% 5-year CAGR, which even-keeled long-term demand.
What is the tenant pool like in Tampa, FL?
Working renters make up the core of the Tampa, FL tenant base. The pool is reasonable for investors targeting long-term holds.
Can I house hack in Tampa, FL?
The house hack math a challenging in Tampa, FL. Owner-occupant buyers benefit from the $1,645/mo rents and $325K home values.
What are rental rates like in Tampa, FL?
Rents in Tampa, FL run near $1,645/mo. Compared with median home prices of $325K that produces solid gross yields for typical rentals.
How landlord-friendly is Tampa, FL?
FL ranks as a landlord-friendly state for landlord-tenant law. Tampa generally follows the statewide framework, so landlords face reasonable operating rules.
You know 33604 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 33604 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 33604 ranks in Tampa-St. Petersburg-Clearwater, FL
Every ZIP in this metro, ranked. Free.
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