Vacation Rental Market Analysis: Tampa, FL

The Evolve Team
The Evolve Team
July 26, 2023

From the roller coasters of Busch Gardens and culture of historic Ybor City to the sparkling waters of the Bay, Tampa is a popular destination for sun-chasers and thrill-seekers. By the numbers, over 24 million visitors pass through for beach bliss, family fun, and downtown delights every year.

It’s this diverse blend of outdoor oases and urban adventure that makes people return to and tell their friends about Tampa — and that means real estate investors can find strong opportunities for beach house properties, riverside retreats, and vacation rentals right in the heart of the city.

To help you understand the profit potential of a Tampa investment property, we created a free, downloadable vacation rental market analysis.

Inside you’ll find:

  • Rental income potential by property size
  • Average occupancy by property size
  • Average daily rate by property size
  • Average days booked in advance
  • Average length of stay
  • Vacation rental inventory by property size
  • Occupancy rate by month

The findings in this analysis are based on Evolve’s Tampa market averages in the last year and provide a general baseline for performance potential. They’re designed to help inform smart decisions when buying a Tampa investment property.

Download Our Complete Tampa Vacation Rental Investment Analysis

Purple icon of a beach house with waves, an umbrella, and stars

Why Tampa Is a Great Place to Own Vacation Rental Property

Thanks to miles of beaches, year-round warm weather, multiple sports teams, and a broad range of attractions, Tampa is a hotspot for families, business travelers, and anyone looking for a little fun in the sun. Adding to its appeal, U.S. News & World Report put Tampa on their list of Fastest-Growing Places, not to mention the city made their top 10 Safest Places to Live.

This is no news to the area’s multitude of annual visitors. Their interest first starts peaking around spring break, and occupancy stays up through the summer stretch. While this high season wears off in fall, another small surge happens around the holidays (when snowbirds might crave a taste of Tampa’s still-warm temps) before settling back down for mid-winter. 

For investors, that translates to solid multi-season booking opportunities — plus a bit of downtime for any necessary maintenance (or a getaway of your own). What’s more: research reveals the county’s visitors spend over $484 million each year on lodging alone, so throwing your hat in the property ring means grabbing a piece of that massive revenue pie.

Keep this in mind when you consider the area’s increasingly competitive housing market. Zillow reports a median home value of just under $370,000. While this is more affordable than other Florida hotspots (like Panama City Beach and Fort Lauderdale), it’s also more expensive than other tourist destinations in the state, like Orlando, Jacksonville, and Daytona Beach.

Purple icon of a crystal ball with the words "profit prediction" in the middle with stars

How Much Money Can You Earn with a Tampa Vacation Rental?

As travelers of all kinds discover the area’s delights, short-term rental owners have the potential to earn big. But before you decide if Tampa is a good place to invest in real estate, there are a number of important factors to consider.

Property Size

Due to the wide range of traveler types coming to Tampa, the ranking of the area’s most popular property sizes is close. One-bedroom homes currently see the highest number of average nights booked, and the others are not far behind.

Because larger homes naturally earn more annual revenue on average (as a result of higher daily rates), buyers with the right budget can make an excellent choice buying a Tampa investment property with a higher bedroom count. That said, one-, two-, and three-bedrooms make up a much larger portion of available inventory, so opting for a small-to-midsize home could help you enter the Tampa market more easily and still get a great return. According to our data, these less-sizable investments stayed booked over half the year on average.

Property Location

Given the city’s prime real estate on the shores of Tampa Bay, our real estate experts say waterfront property is a huge plus for any traveler. And with bayfront, riverfront, lakefront, and even canalfront options available, your perfect Tampa investment property doesn’t have to sit on the coastline to meet that mark.

Of course, in a place like Tampa — with professional football, baseball, and hockey teams; family attractions, amusement parks, and a bustling downtown — water isn’t the only draw. Our experts also note that investors have the potential to do quite well with proximity to other local must-sees — from Busch Gardens to Ybor City and everything in between.

Property Amenities

From the busiest (and warmest) spring and summer days to the area’s quieter fall season, owners can stand out in Tampa’s diverse travel market by investing in the amenities travelers search for

Our real estate experts say the majority of top-performing rentals in Tampa have a private swimming pool, so this is an amenity worth investing in. And consider warm-weather perks any guest would love, too — like air conditioning and outdoor spaces where they can enjoy the sunny setting — to really maximize your rental income potential.

When rain and cooler temps keep people indoors, your investment can attract even more guests and earn five-star reviews with all-weather entertainment. Smart TVs, gaming consoles, and a pool table are great for turning up the fun — particularly for groups seeking family-friendly options.

When you’re ready to explore the market, make your search easier by starting with vetted homes for sale.

Download Our Full Tampa, FL Vacation Rental Market Analysis

Massive travel demand, ideal weather, and a variety of popular things to do make Tampa a worthwhile market for vacation rental investors to explore. 

Whether you’re looking to get your feet wet with an investment property purchase or hoping to take the vacation rental plunge with your current house, our free Tampa Vacation Rental Market Analysis has what you need.

It’s full of important insights, including:

  • Average daily rate by property size
  • Average days booked in advance
  • Average length of stay in high and low seasons
  • Revenue potential by property size

With the right tools, you can put all stress about buying a Tampa investment property at bay. Use our report to set sail in the right direction and start earning income as a successful vacation rental owner.

Get Your Vacation Rental Market Analysis

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