Real Estate Investing in Saint Petersburg, Florida (33704)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 33704 (Saint Petersburg, 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: 13.3% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 31.4 — hard to cash-flow at these prices.
What’s happening in Saint Petersburg, FL (33704)?
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Market Analysis: 33704 Saint Petersburg
The 33704 ZIP covers a section of Saint Petersburg that demands careful diligence. Prices near $741K look accessible, but the work to make a deal cash flow is real.
Distressed markets are won on execution, not on spreadsheets. ZIP 33704 posts the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Saint Petersburg have seen price recovery that 33704 has not matched. Pinellas County data supports the view that the spread is structural rather than temporary.
Demographically, 33704 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.
New investors are better served looking at Saint Petersburg's stable or hybrid ZIPs before stepping into 33704. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Saint Petersburg:
Property Strategy for 33704
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $221,013 | $1,590 | 5.2% | +4.9% | $221,013 |
| 2BR | $480,280 | $1,850 | 2.8% | +8.0% | $240,140 |
| 3BR | $758,376 | $2,370 | 2.3% | +9.0% | $252,792 |
| 4BR | $1,318,462 | $2,880 | 1.6% | +9.7% | $329,616 |
| 5BR | $2,084,415 | — | — | +10.5% | $416,883 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 33704 Compare?
| Metric | 33704 | Saint Petersburg | Tampa-St. Petersburg-Clearwater, FL | Florida |
|---|---|---|---|---|
| Home Value | $740,768 | $398,839 | N/A | $374,697 |
| 5-Year CAGR | 5.0% | 3.1% | N/A | 7.4% |
| Avg Rent | $1,964 | $2,178 | N/A | - |
| Cap Rate | 2.1% | 4.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 33704 (Saint Petersburg, FL). Anonymous, moderated, never written by AI.
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Property managers serving Pinellas County
Manage rentals here? List your business →All County Southern Shores provides full-service residential property management in Myrtle Beach, SC and surrounding areas, focusing on maximizing investment returns and managing tenant relationships. summary from their website
All County Suncoast provides full-service residential property management in Saint Petersburg, FL and surrounding areas, focusing on maximizing investment returns and managing tenant relationships. summary from their website
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
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 | $740,768 |
| Monthly Rent | $1,964 |
| Price-to-Rent | 31.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.2% |
| Cap Rate | 2.1% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +1.8% ▲ |
| 3-Year CAGR | 0.0% ▼ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | -19.3% ▼ |
| 3-Year CAGR | -3.1% ▼ |
| 5-Year CAGR | +3.2% ▲ |
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 33704
Population: 16,300
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 33704
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
MOUNT VERNON ELEMENTARY SCHOOL
MEADOWLAWN MIDDLE SCHOOL
NORTHEAST HIGH SCHOOL
ST. PETERSBURG HIGH SCHOOL
ST. PETERSBURG COLLEGIATE STEM HIGH 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 4,774 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What do landlords charge for rent in Saint Petersburg, FL?
Rents in Saint Petersburg, FL run near $1,964/mo. Compared with median home prices of $741K that produces solid gross yields for typical rentals.
What is the typical vacancy rate in Saint Petersburg, FL?
Saint Petersburg, FL sees elevated vacancy, which is reasonable relative to the broader FL rental market.
Is real estate in Saint Petersburg, FL a good investment right now?
The 3.0/5 investability rating in Saint Petersburg, FL reflects its $741K prices and $1,964/mo rents. Investors generally consider it a solid option within FL.
What investment strategy works best in Saint Petersburg, FL?
For Saint Petersburg, FL, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
How do home values compare in Saint Petersburg, FL?
Typical homes in Saint Petersburg, FL go for around $741K. The 5-year CAGR of 0.0% even-keeled price movement.
You know 33704 now. You don’t know where it ranks.
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How 33704 ranks in Tampa-St. Petersburg-Clearwater, FL
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