Why Millennials Are Buying Homes In St. Petersburg, FL

Did you know the median age of residents in St. Petersburg, FL has dropped to 41.8? Millennials continue to choose St. Pete as one of their top destinations to move to, thanks to a booming nightlife, thriving job market, eclectic art scene, outdoor lifestyle and growing culinary reputation. Keep reading below to find out why the St. Petersburg housing market is one of the fastest growing housing markets in Florida.

The City of St. Pete has been named as one of the ‘Best 25 Towns in America’ by Outside Magazine. There are over 137 parks to explore and 7 miles of simply beautiful water frontage in the Downtown St. Pete area. If you’re into cycling, then you’ll be happy to know that Pinellas County offers more than 950 miles of bike lanes, shared-use trails and sidewalks! Not sure if cycling is for you? You’ll also find a newly launched bike share program in the Downtown St. Pete corridor- perfect for occasional no obligation bike rides with friends and family.

Another desirable trait of St. Petersburg is its focus on higher learning. Within the city limits, you’ll find 3 colleges (USF St Petersburg Campus, Eckerd College, and St. Petersburg College), Stetson University College of Law, and the Pinellas Technical Education Center. Students attending these schools often end up staying in the area and buying homes once they’ve finished their degree- and for good reason! (Hence this article)

If you love the arts, then you’ll likely fall in love with St. Petersburg’s art scene, which features 7 art districts, full of studios, workshops, galleries and more. In the cooler months, the outdoor markets feature the artwork of many local artists. If that’s not enough, there are several other monthly markets, annual festivals, pop-up shops & more that bring artists from all over the state to this budding art scene.

Looking for a job? Indeed.com believes the St. Petersburg job market continues to grow, along with the St. Petersburg Housing Market, and is strong compared to the rest of the U.S. According to their website, “Over the last year, job postings in St. Petersburg, FL have increased by 37729% relative to a national decline of 32%.” Those are some amazing stats! Combine that with NO state income taxes and an affordable cost of living in St. Petersburg, FL compared to other metro areas, and it’s easy to see why so many millennials are flocking to this part of the sunshine state. The cost of living in St. Pete is considerably less than other large metro areas, with the average cost of a home in 2018 in the mid $200k range.

Lastly, don’t forget St. Pete’s close proximity to other convenient places such as the Tampa International Airport (15-20 mins), Tampa Fairgrounds (30 mins), white sandy beaches of Pinellas County (15-30 mins), and top-rated private and public schools (varies, but so many to choose from!).

If you are thinking about buying a home in the St. Petersburg area and not sure where to start, feel free to contact us at Sandy Hartmann & Associates for more information on this wonderful place to live and work. As a reminder, we have over 30 years of local experience serving the St.Pete/Tampa Bay areas and are here to help you with all your real estate related needs.