People just keep coming to Tampa Bay.
The Tampa Bay area is No. 3 on a list of the top U.S. cities people are looking to move to, according to a data analysis from real estate firm Redfin. Tampa rose to crack the top three, behind Miami and Phoenix respectively, thanks to a bump in data from January and February. At the end of 2021, Tampa was fifth.
More than 9,000 additional people moved into the area than out during the first two months of 2022, Redfin found, compared to about 6,000 during the same period a year ago.
Redfin tracked data from Pinellas, Pasco, Hillsborough and Hernando counties. Two other Florida cities, Cape Coral and North Port, were also on the top 10 list for highest migration.
Half of the people who are searching for homes around Tampa Bay are from outside the metro area, which is down from about 60 percent last year, according to Redfin. The top origin city of movers is Orlando. Washington, D.C., is feeding the most people to the area from outside of Florida, Redfin found.
Housing prices continue to soar around Tampa Bay with the influx of demand. Local home values rose by an average $74,754 in 2021, which is approximately $28,000 more than most local workers’ pre-tax incomes, an analysis from Zillow found.
The median sales price for single-family homes in Pinellas County crossed the $400,000 benchmark this year, according to data from Florida Realtors. In Hillsborough County, most homes sold for more than $392,000. Pasco County, where the median price was $360,000, had the highest yearly increases of 30 percent.
“Moving across the country is now easier for many Americans, thanks to remote work. That cultural shift is here to stay,” said Redfin economist Taylor Marr in a statement. “What’s changing is the affordability of the most popular destinations.”