What is the median home value in Hillsborough County, FL?

The median home value in Hillsborough County, FL is $333,300, according to the latest Census ACS 5-Year Estimates.

What is the cap rate in Hillsborough County, FL?

The cap rate proxy in Hillsborough County, FL is 7.1% (estimated from HUD Fair Market Rent and Census home values with a 35% expense ratio). This is above average for cash-flow investors.

How much new construction is happening in Hillsborough County, FL?

Hillsborough County has 1.5 million residents and issued 8,432 building permits over the trailing twelve months, according to the Census Building Permits Survey.

Tampa-St. Petersburg-Clearwater, FL · Florida

Hillsborough County

1.5M residents8,432 permits TTM$75,011 median HHI55 ZIP codesUpdated April 28, 2026

Investor first look

Median home value

$333,300

ACS 5-Year

Cap rate proxy

7.1%

FMR × 0.65 ÷ Home Value

Rent-to-income

24.7%

HUD FMR ÷ ACS HHI

Net migration

+3.01%

IRS SOI

Permits (TTM)

8,432

Census BPS

Climate risk

98.8

FEMA NRI (0–100)

ZIP code breakdown55 ZIP codes

ZIP	Median home value	Rent (FMR 2BR)	Gross yield	Cap rate	Rent gap
33573	$273,414	$2,230	9.8%	9.4%	3.4%
33637	$293,442	$1,970	8.1%	7.2%	9.6%
33605	$253,564	$1,640	7.8%	8.8%	-15.4%
33534	$314,756	$1,810	6.9%	8.9%	-30.1%
33621	$333,300county est.	$2,970	10.7%	5.6%	48.0%

Ranked by composite score

Median home value	Rent (FMR 2BR)	Gross yield	Cap rate	Rent gap
$281,632	$2,230	9.5%	8.4%	9.4%
$312,444	$1,640	6.3%	8.3%	-32.0%
$270,461	$1,730	7.7%	8.1%	-7.0%
$277,084	$1,660	7.2%	7.9%	-12.0%
$435,364	$1,260	3.5%	7.9%	-129.8%
$349,291	$1,640	5.6%	7.9%	-39.8%
$385,212	$2,900	9.0%	7.7%	13.8%
$356,126	$2,430	8.2%	7.4%	7.4%
$392,946	$1,550	4.7%	7.4%	-58.1%
$388,090	$2,670	8.3%	7.4%	10.3%
$364,366	$2,330	7.7%	7.3%	2.8%
$359,018	$1,800	6.0%	7.3%	-22.1%
$353,248	$1,860	6.3%	7.1%	-14.8%
$336,035	$2,290	8.2%	6.9%	14.8%
$454,519	$2,970	7.8%	6.8%	11.7%
$291,278	$2,010	8.3%	6.8%	16.9%
$387,613	$1,750	5.4%	6.6%	-24.3%
$284,772	$1,750	7.4%	6.5%	9.6%
$403,257	$2,300	6.8%	6.2%	7.9%
$337,518	$1,860	6.6%	6.2%	4.1%
$522,004	$2,970	6.8%	6.2%	9.6%
$313,276	$1,910	7.3%	6.1%	14.9%
$436,166	$2,740	7.5%	6.1%	19.2%
$359,094	$2,360	7.9%	6.0%	23.1%
$373,631	$1,980	6.4%	6.0%	5.5%
$368,757	$2,290	7.5%	6.0%	18.7%
$430,644	$2,100	5.9%	5.8%	-1.0%
$390,510	$1,830	5.6%	5.8%	-4.6%
$309,635	$1,790	6.9%	5.7%	16.7%
$403,276	$1,450	4.3%	5.6%	-32.5%
$468,626	$2,490	6.4%	5.6%	10.3%
$511,843	$2,970	7.0%	5.6%	19.1%
$333,300county est.	$2,160	7.8%	5.6%	28.6%
$333,300county est.	$2,030	7.3%	5.6%	24.0%
$333,300county est.	$1,880	6.8%	5.6%	17.9%
$333,300county est.	$1,830	6.6%	5.6%	15.7%
$421,246	$2,420	6.9%	5.5%	19.2%
$361,186	$2,290	7.6%	5.5%	26.7%
$440,932	$2,340	6.4%	5.2%	17.4%
$343,721	$2,060	7.2%	5.1%	28.5%
$404,179	$2,210	6.6%	4.9%	24.1%
$539,552	$1,890	4.2%	4.9%	-16.9%
$462,599	$2,510	6.5%	4.8%	26.2%
$606,962	$2,400	4.7%	4.6%	2.4%
$565,137	$2,750	5.8%	4.4%	23.4%
$463,006	$1,850	4.8%	4.0%	14.9%
$657,624	$2,520	4.6%	3.8%	15.1%
$657,030	$2,230	4.1%	3.4%	16.7%
$840,502	$2,770	4.0%	3.2%	16.9%
$1,005,751	$2,320	2.8%	3.0%	-9.2%

Demographics

Owner-occupied

61.1%

Census ACS

Vacancy rate

7.8%

Census ACS

Bachelor's degree +

37.2%

Census ACS

Rent burdened

52.7%

Census ACS (>30% income)

Median age

37.8

Census ACS

Data sources

U.S. Census Bureau — American Community Survey 5-Year Estimates

U.S. Census Bureau — Building Permits Survey

U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)

Internal Revenue Service — Statistics of Income Migration Data

FEMA — National Risk Index

Last updated: April 28, 2026

Hillsborough County

See all 55 ZIPs ranked by yield and cap rate