Report Shows Tampa and St. Pete Among Cities with the Fastest-Rising Home Prices Over the Decade

By Devonta Davis – Digital Producer, Tampa Bay Business Journal

Tampa and St. Petersburg are among the cities with the largest increases in home prices over the past decade, according to recent data from Zillow and the U.S. Census Bureau.

A study by construction analysis and research company Construction Coverage examines the largest percentage increase in median home prices between 2014 and 2024, covering the Great Recession and the Covid-19 pandemic.

According to the report, Tampa ranked second among large cities with a 175.4% increase in median home values over the last decade, while St. Petersburg ranked first among medium-sized cities with a 183.5% increase.

According to the study, seven Florida cities experienced 10-year home price increases exceeding 190%, nearly double the national average.

Statewide, Florida saw the second-largest 10-year increase at 132.2%, trailing only Idaho.

“The most substantial increases in home prices have been concentrated in Western states and select states in the Southeast. Since 2014, Idaho and Florida have witnessed the most significant growth, with median home prices increasing by 155.5% and 132.2%, respectively. Other top states include Washington (+129.1%), Utah (+127.5%), Georgia (+126.0%), Nevada (+125.7%), Arizona (+123.0%), and Tennessee (+122.6%),” the report wrote. 

Lakeland and Clearwater also made the list for home price growth among small cities, at Nos. 30 and 48, respectively. 

The full report and methodology can be found here.