Forest Hills, Tampa, FL—33612
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Forest Hills, Tampa, FL
As of Oct '25, the median home price in Forest Hills, Tampa, FL is $287,000, with a year-over-year change of -4.9%. This indicates that home prices in Forest Hills, Tampa, FL are decreasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $287,000 | -4.9% |
| Single Family | $299,000 | -4.8% |
| Condos | $101,000 | -11.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $106,000 | -10.9% |
2 Bed | $234,000 | -6.4% |
3 Bed | $323,000 | -4.4% |
4 Bed | $384,000 | -3.0% |
| 5 Bed | $539,000 | -3.2% |
% of Housing Stock
Rental Trends — Forest Hills, Tampa, FL
As of July '25, Rentcast reports the average rent in Forest Hills, Tampa, FL is $1,680, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Forest Hills, Tampa, FL is studios: $1,060, 1-bedrooms: $1,200, 2-bedrooms: $1,460, 3-bedrooms: $2,060, 4-bedrooms: $2,560. The most common rental property sizes in Forest Hills, Tampa, FL are 2-bedroom and 1-bedroom, accounting for 36.0% and 26.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,680 |
| Studio Rent | $1,000 | $1,060 |
| 1 Bed Rent | $1,200 | $1,200 |
| 2 Bed Rent | $1,400 | $1,460 |
| 3 Bed Rent | $2,000 | $2,060 |
| 4 Bed Rent | $2,500 | $2,560 |
% of Rental Stock
Property Listings — Forest Hills, Tampa, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Forest Hills, Tampa, FL is 46. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $345,000 | 6.0% |
Listing Count | 126 | -2.0% |
| Listings as % of Homes | 0.5% | -2.0% |
Days on Market | 46 | -7.0% |
Demographics — Forest Hills, Tampa, FL
As of the latest ACS Survey released in 2023, Forest Hills, Tampa, FL has a population of 49,900, which has increased by 1.2% over the past 5 years. Forest Hills, Tampa, FL is a moderately popular place for families, as children make up 24.5% of the population. The area has a poorly educated workforce, with 18.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 49,900 | 1.2% |
% Under 18 | 24.5% | 0.8% |
% Seniors | 13.2% | 16.8% |
% WFH | 9.7% | 115.6% |
% w/ College Degree | 18.4% | 2.8% |
As of the latest ACS Survey released in 2023, Forest Hills, Tampa, FL is a predominantly hispanic area, with 39.7% of the population identifying as hispanic. The hispanic population has grown by 7.0% in the last 5 years. The second most common race or ethnicity in Forest Hills, Tampa, FL is black, making up 31.4% of the population. Foreign-born residents account for 22.5% of the population in Forest Hills, Tampa, FL, and this percentage has increased by 33.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 25.3% | -15.7% |
% Black | 31.4% | 1.9% |
% Hispanic | 39.7% | 7.0% |
% Asian | 2.0% | 25.0% |
% Foreign Born | 22.5% | 33.9% |
Mortgage and Risk — Forest Hills, Tampa, FL
According to HUD data as of 2023, there were 446 mortgage originations in Forest Hills, Tampa, FL, of which 65.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Forest Hills, Tampa, FL. Investor activity is low, as 3.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 446 |
% Conventional Loans | 65.0% |
% Government Loans | 35.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Forest Hills, Tampa, FL
As of 2024, the percent of homes in Forest Hills, Tampa, FL under the Section 8 program is 11.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Forest Hills, Tampa, FL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 1,261 |
Total Units Section 8 | 1,251 |
% Rentals under Section 8 | 11.0% |
% Occupied Section 8 | 95.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $270 | $1,200 | $1,470 |
| 2 Bedroom | $320 | $1,400 | $1,720 |
| 3 Bedroom | $200 | $2,000 | $2,200 |
| 4 Bedroom | $180 | $2,500 | $2,680 |
Affordability — Forest Hills, Tampa, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.4 |
| Median Home Price | $287,000 |
| Median Household Income | $43,900 |