It’s been a strong year for the Tampa real estate market and home prices have steadily been rising over the last 12+ months as a result. But according to recent analysis from Zillow, the luxury home market specifically has been quite robust, which is evident through the just how many million dollar neighborhoods now exist throughout the Tampa area.
Defined as having at least 10% of homes in a particular ZIP code worth a minimum of $1 million, the number of million dollar neighborhoods in Tampa has now officially tripled over the last three years, bringing the city’s total to six ZIP codes overall. The most recent ZIP codes added to the list include Beach Park, Palma Ceia, Downtown St. Pete, and Clearwater Beach, with Beach Park and Downtown St. Pete only reaching the million-dollar threshold within the last year.
As noted in Zillow’s analysis, home values in the U.S. are now at record highs, which has unquestionably contributed to more million dollar homes actively being sold in neighborhoods all over the country. Nationwide, Zillow accounted for 346 newly designated million neighborhoods since 2014, and that number will surely continue to increase as home values continue an upward spike.
Listed by the Tampa Bay Business Journal, the six million ZIP codes in Tampa now include 33606, 33609, 33629, 33701, 33767, and 33786.