Let’s look at and compare actual numbers.
Currently, in October 2018, the average home price single-family homes for Hillsborough County is $286,488.
By comparison,single-family homes in Pinellas County had a average home price of $321,704, a 12% difference!
Now of course average home price can be skewed by factors such as inventory on the market. Some people believe median home price is a better indicator. In this case, that is $259,900 for Pinellas and $244,190 for Hillsborough. But keep in mind that median is not an average, it is just the middle point for all homes sold in a given month.
In layman’s terms, the median home price is the point at which half of homes sold cost more and half of homes cost less.
Some additional reasons that Pinellas County costs more than Hillsborough are because of its waterfront, and it’s proximity to local beaches.
If you ask anyone from up north or the midwest what they know about Tampa, they’ll probably mention “Beaches!”. But those of us who live in Tampa Bay know that the actual gulf beaches are in Pinellas County.
Sure, there are some beaches on Tampa Bay itself, notably Picnic Island, Cypress Point Park, and Ben T Davis Beach up on the Courtney Campbell Causeway. But when most people think of beaches, they think of wide white crystal sands, seashells, and rolling surf crashing against the land.
Which you’d be hard pressed to find in Tampa Bay, unless there’s a storm coming.
And since most people move to Tampa Bay from outside of the area, they naturally want to gravitate towards the beaches. After all, it’s what Florida is known for! I mean, would you move to Colorado just to live near some sand dunes? Of course not, you’d naturally want to be close to the Rockies!
So this inherent need for people to be close to bodies of water naturally draws people to places like Indian Rocks Beach or Saint Petersburg, with the side effect of slowly applying upward pressure on housing prices.