Real Estate Investing in Tarpon Springs, Florida (34688)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 34688 (Tarpon Springs, 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 Tarpon Springs, FL (34688)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 34688 Tarpon Springs
Looking more closely, ZIP 34688 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $578K median. It rewards specialists, not generalists.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 34688 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Nearby ZIPs in Tarpon Springs have seen price recovery that 34688 has not matched. Pinellas County data supports the view that the spread is structural rather than temporary.
Resident income in 34688 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Experienced landlords with local relationships tend to find 34688 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 Tarpon Springs:
Property Strategy for 34688
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $178,138 | $1,910 | 7.7% | +5.9% | $89,069 |
| 3BR | $518,880 | $2,440 | 3.4% | +7.9% | $172,960 |
| 4BR | $729,063 | $2,970 | 2.9% | +8.4% | $182,266 |
| 5BR | $1,122,502 | — | — | +9.1% | $224,500 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 34688 Compare?
| Metric | 34688 | Tarpon Springs | Tampa-St. Petersburg-Clearwater, FL | Florida |
|---|---|---|---|---|
| Home Value | $577,910 | $474,193 | N/A | $374,697 |
| 5-Year CAGR | 4.4% | 3.6% | N/A | 7.4% |
| Avg Rent | $2,400 | $2,178 | N/A | - |
| Cap Rate | 3.2% | 3.7% | - | - |
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 34688 (Tarpon Springs, 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 | $577,910 |
| Monthly Rent | $2,400 |
| Price-to-Rent | 20.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.2% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +0.4% ▲ |
| 3-Year CAGR | -1.0% ▼ |
| 5-Year CAGR | +4.4% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.2%). 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 34688
Population: 8,767
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 34688
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 3,108 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 Tarpon Springs, FL?
Typical homes in Tarpon Springs, FL go for around $578K. The 5-year CAGR of 0.0% stable price movement.
How should investors approach Tarpon Springs, FL?
In Tarpon Springs, FL the substantial play is typically careful cash-flow rentals with hands-on management. The combination of $578K prices and $2,400/mo rents suits that approach.
What does house hacking look like in Tarpon Springs, FL?
For house hackers, Tarpon Springs, FL is a challenging. The $2,400/mo rent on a unit helps defray the mortgage on a $578K property.
How strict are landlord regulations in Tarpon Springs, FL?
Rental owners in Tarpon Springs, FL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
How strong is tenant demand in Tarpon Springs, FL?
Tarpon Springs, FL draws a consistent base of working renters. Demand at the $2,400/mo rent level is reasonable for standard single-family and small multi rentals.
You know 34688 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 34688 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 34688 ranks in Tampa-St. Petersburg-Clearwater, FL
Every ZIP in this metro, ranked. Free.
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