The key word Tampa investment properties owner age focuses on the age profile of real estate investors in Tampa area. As the reference articles mentioned, millennials born between 1981-1996 are reaching their peak home buying age now, making them a major force in driving the recent housing boom.
With the impacts of the pandemic and more millennials wanting larger homes for remote work, there has been a frenzy in the housing market. Buyers are looking to cheaper areas like Tampa for more affordable investment properties and better returns. This trend of millennial buyers has reshaped property investment markets across many American cities.
Millennials reaching 32, the average first-time home buyer age, driving demand
The articles point out that millennials are now reaching the age of 32, which is the median age for a first-time home buyer to make their initial property purchase. More millennials will hit this key age over the next two years, representing the largest ever group of new buyers entering the market. This huge wave of demand needs to be met by builders constructing more homes.
Millennials wanting larger homes for families and remote work
The housing frenzy also reflects lifestyle changes among millennials after the pandemic. Having delayed major life milestones like marriage and children previously, more millennials now want to buy larger homes to start families. The prevalence of remote work also has them looking for homes with dedicated office space.
Buyers targeting more affordable cities like Tampa
The millennial home buyer shift has driven demand away from expensive big cities towards more affordable secondary markets like Tampa. Young professionals view areas like Tampa, Phoenix, Austin as the new hotspots for investment, especially since home prices are much cheaper compared to places like San Francisco and New York.
In summary, Tampa area is seeing growing interest from millennial real estate investors due to affordable home prices combined with strong job growth and lifestyle amenities. As the largest ever group of millennials reach their 30s over the next few years, Tampa’s status as a magnet for property investors will continue.