The metropolitan area that surrounds Riverview, FL takes account of all the sites neighboring Tampa Bay. The regions that this site comprises of being Tampa, Clearwater, St. Petersburg and Sarasota areas.
The area is prevalently known for its agreeable climate and poised local economy. In the building boom of 1980, downtown Tampa multistory buildings, development of a cruise-ship terminal and the most important airport renovation came into existence. The region became business-friendly and extremely capable of profiting every venture that was initiated here. This resulted in the expansion of the economy concerning the area which was not so well-paid-off earlier in the same decade. Several economy pursuits commenced in the area, making it well-known among the entrepreneurs. The area became prevalent far and wide in the financial industry for its growing facts and statistics. HIGHPOINTS OF THE RIVERVIEW: - It is located in the Hillsborough County, Florida, a renowned state in the province of the United States of America. - The exact site of the Riverview is Central Florida Gulf Coast at Tampa Bay. - It is featured in the metro area of Tampa-St. Petersburg-Clearwater Metro Area. - The area comes under the profile of Large-city complex. - The Riverview city is categorized in the Eastern Standard Time zone. - From the real state point of view, the area is extensively used for sale and rent. - There are a total of three Zip codes- 33569, 33578 and 33579. FACTS AND STATISTICS ABOUT RIVERVIEW: As a residential area, its demand has boosted over the past decades owing to its climate and sturdy economy. Lots of ventures have been undertaken for meeting the ever-increasing residential requirements. The credit to enhanced suburban requirements can be undoubtedly attributed to its facts and statistics. The main highlights of these figures are: ECONOMY: The current rate of unemployment in the city of Riverview is 5.60%, whereas the overall average of US is 6.30%. When the city is considered vis-à-vis its growth and expansion of jobs, it is quite positive. In the last few years, the jobs have increased by 3.13% in Riverview. POPULATION: The population of the city as recorded in 2014 is 70,052 people. It has witnessed the 126.63% of population growth in last 14 years as when compared in 2000. RATE OF LIVING COST: The cost of living in Riverview is considerably lower than the rest of the country at only about 5.40%. TRANSPORTATION: The average commute time for Riverview residence is 31 minutes. This is about 10 minutes longer than the national average commute of 21 minutes. Riverview offers plenty of reasons why it could be worth the few extra minutes on the road. SCHOOLS: An average of $10,136 is spent on the education per student in Riverview, Florida. The area has one teacher on average of 20.7 students. MARKET TREND OF REAL ESTATE IN RIVERVIEW: When talking about the real estate in Riverview, the median home cost is $145,600. Previous year, the home appreciation was 12.70 percent. This hike in the last 12 months has made it a good time to buy house in Riverview. Only between August 2014 and August 2015, a total of 18 percent homes lost their value. The prices in area of Dade City and Hillsborough County are at a 30 percent lower than their actual worth, estimated only a year ago. However, it does not mean the market is going in reverse, it simply states that some of the areas are not recovering at a pace that they are supposed to. If a study made by Zillow is to be believed, million-dollar lakefront estates in eastern Hillsborough along with some modest houses have lost their value. The not so hardest-hit areas in the region were Ybor City, downtown St. Petersburg and Davis Islands of Tampa. The study also showed the general median sale value of a single-family home has declined from $200,000 to $189,000. This attributes to the overall deterioration of 5.5 percent. But this scenario about the total sale prices is not enough elaborative as to about the price per square foot. In spite of this declination, they have rose 2.6 percent as for the countrywide median. This unusual statistics where price per square foot is rising but the total sale prices are going down reflects that the sold houses were slightly smaller in size. Most of the ZIP codes that observed 18 percent declination in overall value among the four bay counties were from Hillsborough. The sales were so less that year making it almost difficult to conclude current values. Though, the housing market is now continuously climbing the recovery ladder and the house prices are increasing steadily, property evaluators have determined the mean values to change further. They can either increase or decrease depending on the current sales. CURRENT HOME VALUES IN RIVERVIEW: For all those, who are planning to buy their dream home in Riverview, this is the best time do so. Interest rates are slightly lower than 4 percent for a 30 year fixed-rate mortgage. They are estimated to rise at the end of this year to approximately 5%. This is a huge increment from the current interest rates. And then they will hover at the same rate for a longer period and are not expected to come down any time sooner. Thus, an investment in buying property now will save few thousand dollars every year to all the buyers. Home prices are at an all-time low and will soon rise in the future and will keep rising in the following years to come. All these statistics clearly indicate why it is better to invest now. The current pricing for the property in Riverview is categorized into four precincts: - Homes under $250,000 for small-sized houses. - Homes from $250,001 to $500,000 are the houses listed in expensive category. - Million Dollar Homes can be purchased for the investment of $500,001 to $750,000. - The Median Priced Homes are available from $750,001 to $1,000,000. Strengthening economy, loveable climate and attractive downtown areas are the most enticing factors to attract homeowners. These specific factors are motivating people to jump in the housing market in Riverview, Florida. The potential buyers who are still waiting by the fence to plan an investment must lay out the strategy now.