Home values across Tampa Bay remain significantly higher than the national average, as revealed by recent Zillow data. In August, the typical home value in the U.S. was $362,143, a 2.5% increase from the previous year. Meanwhile, Tampa Bay counties are seeing even more dramatic price hikes, positioning them among the most expensive in the nation.
Rising Mortgage Rates Intensify Housing Costs
Beyond rising home prices, high mortgage rates are making the cost of homeownership even steeper. As of September, the 30-year fixed mortgage rate stands at 6.09%, leading to higher monthly payments. While home values have soared across the country, some cities are shouldering a greater burden due to factors like location, size, and condition.