Real Estate Investing in Tampa, Florida (33609)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 33609 (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 (33609)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 33609 Tampa
This part of Hillsborough County is not an easy win. The 33609 ZIP sits at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed markets are won on execution, not on spreadsheets. ZIP 33609 reflects the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Statewide comparisons place 33609 among FL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 33609 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.
Experienced landlords with local relationships tend to find 33609 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 33609
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $225,925 | $2,060 | 6.6% | +7.7% | $225,925 |
| 2BR | $377,579 | $2,400 | 4.6% | +7.8% | $188,789 |
| 3BR | $646,548 | $3,070 | 3.4% | +7.7% | $215,516 |
| 4BR | $1,176,342 | $3,740 | 2.3% | +8.9% | $294,086 |
| 5BR | $2,206,327 | — | — | +10.1% | $441,265 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 33609 Compare?
| Metric | 33609 | Tampa | Tampa-St. Petersburg-Clearwater, FL | Florida |
|---|---|---|---|---|
| Home Value | $615,634 | $413,704 | N/A | $374,697 |
| 5-Year CAGR | 4.7% | 5.0% | N/A | 7.4% |
| Avg Rent | $2,599 | $2,087 | N/A | - |
| Cap Rate | 3.3% | 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 33609 (Tampa, FL). Anonymous, moderated, never written by AI.
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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 | $615,634 |
| Monthly Rent | $2,599 |
| Price-to-Rent | 19.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 8.0% |
📈 Home Appreciation
| 1-Year | -0.3% ▼ |
| 3-Year CAGR | +0.1% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 Rent Trends
| 1-Year | +21.3% ▲ |
| 3-Year CAGR | +8.2% ▲ |
| 5-Year CAGR | +9.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.3%). 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 33609
Population: 17,922
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 33609
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
DUNBAR ELEMENTARY MAGNET SCHOOL
GRADY ELEMENTARY SCHOOL
WEST TAMPA ELEMENTARY SCHOOL
GORRIE ELEMENTARY SCHOOL
MACFARLANE PARK ELEMENTARY MAGNET 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
How strong are rents in Tampa, FL?
Rental rates in Tampa, FL average $2,599/mo. Tenant demand and $616K home values make the yield look reasonable by investor standards.
How quickly do rentals get leased in Tampa, FL?
Expect elevated vacancy in Tampa, FL. Rents at $2,599/mo are absorbed by the tenant base without meaningful lag.
Is Tampa in FL worth investing in?
Yes - Tampa, FL a 3.0/5 investability score. With $616K home prices against $2,599/mo monthly rent, the market delivers a reasonable entry point for new investors.
Are renters plentiful in Tampa, FL?
Tampa, FL offers a even-keeled renter base at the $2,599/mo rent level. Tenant turnover is reasonable for well-managed properties.
What approach is best for Tampa, FL real estate?
Investors usually favor careful cash-flow rentals with hands-on management in Tampa, FL. With home values at $616K and rents near $2,599/mo, other strategies can work but produce reliable rather than outsized returns.
You know 33609 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 33609 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 33609 ranks in Tampa-St. Petersburg-Clearwater, FL
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