Real Estate Investing in Tampa, Florida (33606)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 33606 (Tampa, FL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 13.0% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 30.6 — hard to cash-flow at these prices.
What’s happening in Tampa, FL (33606)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 33606 Tampa
This part of Hillsborough County is not an easy win. The 33606 ZIP stands at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $2,355/mo on a $865K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 33606 sits below the stated 0.0% once reality is priced in.
Nearby ZIPs in Tampa have seen price recovery that 33606 has not matched. Hillsborough County data supports the view that the spread is structural rather than temporary.
Demographically, 33606 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategically, 33606 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Tampa:
Property Strategy for 33606
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $288,923 | $2,380 | 5.9% | +7.7% | $288,923 |
| 2BR | $568,456 | $2,770 | 3.5% | +8.1% | $284,228 |
| 3BR | $861,228 | $3,540 | 3.0% | +8.6% | $287,076 |
| 4BR | $1,614,052 | $4,310 | 1.9% | +10.6% | $403,513 |
| 5BR | $2,910,673 | — | — | +11.0% | $582,135 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 33606 Compare?
| Metric | 33606 | Tampa | Tampa-St. Petersburg-Clearwater, FL | Florida |
|---|---|---|---|---|
| Home Value | $865,402 | $413,704 | N/A | $374,697 |
| 5-Year CAGR | 5.4% | 5.0% | N/A | 7.4% |
| Avg Rent | $2,355 | $2,087 | N/A | - |
| Cap Rate | 2.1% | 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 33606 (Tampa, FL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 33606 (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 | $865,402 |
| Monthly Rent | $2,355 |
| Price-to-Rent | 30.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.3% |
| Cap Rate | 2.1% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | -1.1% ▼ |
| 3-Year CAGR | 0.0% ▼ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +2.8% ▲ |
| 5-Year CAGR | +5.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.1%). 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 33606
Population: 23,511
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 33606
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
HILLSBOROUGH VIRTUAL SCHOOL
GRADY ELEMENTARY SCHOOL
SHORE ELEMENTARY MAGNET SCHOOL
WASHINGTON ELEMENTARY SCHOOL
DESOTO 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 3,859 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Tampa, FL a smart market for rental property?
Tampa, FL rates 3.0/5 for investability. With median values at $865K and rents near $2,355/mo, the market offers reasonable fundamentals for rental investors.
Is FL a landlord-friendly state?
Rental owners in Tampa, FL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What is the typical rental rate in Tampa, FL?
Average rent in Tampa, FL is approximately $2,355/mo per month. Against $865K home values that yields a reasonable rent-to-price ratio.
What is the rental occupancy rate in Tampa, FL?
Tampa, FL sees elevated vacancy, which is reasonable relative to the broader FL rental market.
What is the tenant pool like in Tampa, FL?
Tenant demand in Tampa, FL is solid. The local workforce $2,355/mo rents across most rental classes.
You know 33606 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 33606 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 33606 ranks in Tampa-St. Petersburg-Clearwater, FL
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