Study: Florida Home Prices Surge in Last Decade
Seven cities in Florida saw 10-year increases in home prices of more than 190%, according to a study, which is about twice the national average.
TAMPA, Fla. — Tampa and St. Petersburg are among the cities that have seen the largest increase in home prices over the last 10 years, according to a study from a construction analysis and research company.
The Construction Coverage report looked at data from Zillow and the U.S. Census Bureau to figure out which states and cities have seen the largest percentage increase in median home price between 2014 and 2024, which covers the Great Recession and the COVID-19 pandemic.
Tampa ranked second among large cities with a 175.4% increase in median home values over the last decade. Detroit ranked first. St. Petersburg ranked first among medium-size cities with a 183.5% increase, according to the report.
Seven cities in Florida saw 10-year increases of more than 190%, according to the study, which is about twice the national average.
As far as states go, the study found that Florida had the second biggest 10-year increase, at 132.2%, behind only Idaho.
"The trajectory of economic recovery post-recession is uneven across the nation, and this trend has held true in the wake of both the Great Recession and the COVID-19 pandemic," according to the report. "The most substantial increases in home prices have been concentrated in Western states and select states in the Southeast."
Large cities with the biggest increase
1. Detroit, Michigan (203.2%)
2. Tampa, Florida (175.4%)
3. Dallas, Texas (145.8%)
4. Phoenix, Arizona (141.6%)
5. Columbus, Ohio (141.5%)
6. Charlotte, North Carolina (140.8%)
7. Milwaukee, Wisconsin (140.1%)
8. Cleveland, Ohio (139.5%)
9. Nashville-Davidson, Tennessee (136.5%)
10. Arlington, Texas (133.8%)
Medium-size cities with the biggest increase
1. St. Petersburg, Florida (183.5%)
2. Hialeah, Florida (182.0%)
3. Port St. Lucie, Florida (175.9%)
4. Buffalo, New York (175.2%)
5. San Bernardino, California (164.5%)
6. Bellevue, Washington (163.0%)
7. Paterson, New Jersey (162.7%)
8. Tacoma, Washington (162.6%)
9. Grand Rapids, Michigan (160.8%)
10. Boise City, Idaho (159.4%)
States with the biggest increase
1. Idaho (155.5%)
2. Florida (132.2%)
3. Washington (129.1%)
4. Utah (127.5%)
5. Georgia (126.0%)
6. Nevada (125.7%)
7. Arizona (123.0%)
8. Tennessee (122.6%)
9. Montana (121.0%)
10. New Hampshire (120.1%)
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