Study: mortgages up 94% in Tampa Bay
October 25, 2022 - According to a Zillow analysis, mortgages in the area increased by 93.9% over the last year. The study shows the average mortgage payment in September was $2,016. Zillow, a real estate platform, stated that local home buyers now spend 35.5% of their income on housing, well above the 30% cost-burdened threshold. According to the report, it is “extremely unlikely” that home values will fall to previous affordability levels. Read the full analysis here.