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Zillow: Tampa Bay home values rise at second-highest rate among top metro areas

Tampa Bay had the second largest increase in home values over the past year of the country's 35 largest metro areas. [TImes file photo]

Tampa Bay had the second largest increase in home values over the past year of the country's 35 largest metro areas. [TImes file photo]

TAMPA — Tampa Bay had the second largest increase in home values over the past year of the country's 35 largest metro areas. Zillow data released Thursday indicated that bay area home values jumped 11.4 percent from March last year to a median value of $183,300, a pace second only to Seattle.

Nationally, the median home value is $196,500, a 6.8 percent increase from last year.

The report also gave hope to renters that a reprieve may finally be in sight.

According to Zillow, median rents across the country are rising at the slowest pace since 2012. Tampa Bay came out near the middle of the pack for rental prices with the 12th-highest increase to reach a median of $1,351. Tampa's increase surpassed the national appreciation rate of 0.7 percent, but still comes in lower than the national median of $1,408.

Contact Malena Carollo at mcarollo@tampabay.com. Follow @malenacarollo.

Zillow: Tampa Bay home values rise at second-highest rate among top metro areas 04/20/17 [Last modified: Thursday, April 20, 2017 5:52pm]
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