2 / 100

Hillsborough County, FL

RANK #973 / 996  ·  POP 1,468,560  ·  FL

PROJECTED GROWTH: -4.0%

Hillsborough County ranks in the bottom tier of U.S. counties on economic momentum.

[01] Why Hillsborough County?

Hillsborough County, Florida, is a large area on Florida's west coast, with Tampa as its largest city and central hub. The county offers a mix of urban, suburban, and even rural communities, including notable towns like Plant City, known for its annual strawberry festival, and Apollo Beach, recognized for waterfront living. Commuting options within the county include the Hillsborough Area Regional Transit (HART) bus system, MetroRapid bus service, and the TECO Line Streetcar, which connects downtown Tampa, the Channel District, and Ybor City. The county boasts extensive natural amenities, with over 200 parks and nature preserves, and 700 miles of trails for hiking, biking, and other outdoor activities. Residents can enjoy year-round outdoor recreation due to the warm climate.

Life in Hillsborough County offers diverse communities and a range of lifestyles. The Hillsborough County Public Schools district is one of Florida's largest, providing various educational programs, including magnet and International Baccalaureate options. The economy has experienced growth, with major investment in sectors like education, energy, and infrastructure. The area attracts families, professionals, and retirees, with a strong job market in healthcare, finance, and technology. Tourism also plays a significant role, with Hillsborough County welcoming millions of visitors annually.

[02] Market Snapshot

Housing Ratio
3.6x

Undervalued relative to economy

GDP Growth
+3.6%

Above national median

Home Prices
-3.9%

Prices declining

Climate & Terrain
4.3

Favorable climate & terrain

Price/Rent
12x

Below national median (13x)

Housing looks undervalued at 3.6x — home prices are low relative to local economic output. Climate and geography support a structural premium. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Hillsborough County U.S. National

The Numbers

DEMOGRAPHICS
Population
1,468,560
+1.68% YoY
Median Household Income
$70,612
Median Home Value
$294,900
-3.94% 12mo
Median Rent
$1,413
Average Annual Pay
$75,256
+5.4% YoY
Employment
789,442
+1.2% YoY
Income-to-Home-Value
0.2394
Near national average
Migration Inflow
2.84%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$410,000
Days on Market
62
Slower market
Months of Supply
4.5
Balanced market
Sale-to-List Ratio
96.8%
Negotiation room for buyers
Sold Above List
15.3%
Listings w/ Price Drops
33.5%
Building Permits (2024)
9,053
Single-Family Permits
4,402

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$2,711M
TOTAL
PROJECT AMOUNT STATUS
Community Investment Tax (CIT) Funded Infrastructure Projects
Hillsborough County
$1,340M Planned
City of Tampa CIT Funded Projects (Transportation, Public Safety, Parks)
City of Tampa
$783M Planned
Solar and Battery Storage Portfolio (Wimauma, Bullfrog Creek, Dover, English Creek, Riverside)
Tampa Electric Co.
$300M Operating
New Elementary and Middle Schools (Wimauma & Apollo Beach)
Hillsborough County Public Schools
$188M Planned
Southeast County Landfill Renewable Natural Gas (RNG) Production Unit
Waga Energy
$50M Under Construction
Big Bend Natural Gas Power Plant Upgrade
Tampa Electric Co.
$50M Operating

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +3.6% 66 percentile
Population Growth +1.7% 86 percentile
Income Growth +10.1% 80 percentile
Vacancy Rate 1.5% 22 percentile
Home Price Change -3.9% 5 percentile
Rent Growth -1.1% 5 percentile
Price/Rent 12x 62 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Hillsborough County, FL a good place to move to?

Hillsborough County has a Boom Town Index score of 2/100, ranking #973 among 996 U.S. counties. With job growth at +1.2% and a median household income of $70,612, it faces some economic headwinds compared to faster-growing counties.

Is Hillsborough County affordable?

The median home value in Hillsborough County is $294,900 with median rent at $1,413/month. The income-to-home-value ratio is 0.2394, which is less affordable than the national average.

Is Hillsborough County growing or shrinking?

Population growth: +1.7% year-over-year. Job growth: +1.2%. Home values changed -3.9% in the past 12 months.

Are people moving to Hillsborough County?

Yes — 2.84% of Hillsborough County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Okaloosa County, FL 12 Orange County, FL 12 Coweta County, GA 12 Gordon County, GA 12 Sussex County, DE 12 Clark County, NV 12 DeKalb County, GA 12 Jones County, MS 12