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Pinellas County, FL

RANK #986 / 996  ·  POP 959,918  ·  FL

PROJECTED GROWTH: -4.7%

Pinellas County is shedding jobs at a pace that outstrips most U.S. counties.

[01] Why Pinellas County?

Pinellas County, Florida, is a peninsula on Florida's Gulf Coast, bordered by the Gulf of Mexico to the west and Tampa Bay to the east. It is connected to Tampa, a major city in Hillsborough County, by three bridges. The county offers a mix of urban and suburban environments, with communities ranging from the arts-focused downtown St. Petersburg to the small-town charm of Dunedin and Safety Harbor. Pinellas County is known for its natural amenities, including numerous parks, preserves, and beaches like Clearwater Beach and Fort De Soto Park, offering opportunities for outdoor recreation such as kayaking, biking, and walking on trails like the Pinellas Trail.

The economy of Pinellas County is diversified, with major employers in sectors such as healthcare, retail, and financial services. Top private employers include Publix, Walmart, and Raymond James & Associates. The county also has a strong presence in manufacturing, defense and homeland security, aviation and aerospace, life sciences, and information technology. Recent economic developments include significant investment flowing into commercial and residential projects, as well as the energy sector. The county actively works to attract and support businesses in high-wage industries like high-tech manufacturing, software development, and financial services.

[02] Market Snapshot

Housing Ratio
4.4x

Below national median (4.7x)

GDP Growth
+2.0%

Below national median

Home Prices
-6.4%

Prices declining

Climate & Terrain
5.0

Favorable climate & terrain

Price/Rent
12x

Strong rental yield

Housing is fairly valued at 4.4x 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

Pinellas County U.S. National

The Numbers

DEMOGRAPHICS
Population
959,918
+0.2% YoY
Median Household Income
$66,406
Median Home Value
$284,300
-6.44% 12mo
Median Rent
$1,389
Average Annual Pay
$67,519
+4.8% YoY
Employment
447,680
-1.2% YoY
Income-to-Home-Value
0.2336
Near national average
Migration Inflow
2.48%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$416,000
Days on Market
66
Slower market
Months of Supply
5.2
Buyer's market
Sale-to-List Ratio
95.7%
Negotiation room for buyers
Sold Above List
8.2%
Listings w/ Price Drops
34.6%
Building Permits (2024)
2,627
Single-Family Permits
1,135

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

[05] Capital Investment

$940M
TOTAL
PROJECT AMOUNT STATUS
Tropicana Field Site Redevelopment Proposals (multiple projects)
ARK Ellison Horus, Blake Investment Partners, Foundation Vision Partners, Pinellas County Housing Authority
$500M Proposed
P L Bartow Natural Gas Power Plant Upgrades
Duke Energy Florida, LLC
$340M Under Construction
Digital Meter Upgrade (Advanced Metering Infrastructure)
Pinellas County Utilities (PCU)
$50M In Progress
St. Pete-Clearwater Airport Terminal Improvement
Pinellas County
$50M Design: In progress

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

[06] Score Breakdown

GDP Growth +2.0% 35 percentile
Population Growth +0.2% 39 percentile
Income Growth +9.8% 78 percentile
Vacancy Rate 1.8% 13 percentile
Home Price Change -6.4% 1 percentile
Rent Growth -2.9% 1 percentile
Price/Rent 12x 68 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

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

Pinellas County has a Boom Town Index score of 1/100, ranking #986 among 996 U.S. counties. With job growth at -1.2% and a median household income of $66,406, it faces some economic headwinds compared to faster-growing counties.

Is Pinellas County affordable?

The median home value in Pinellas County is $284,300 with median rent at $1,389/month. The income-to-home-value ratio is 0.2336, which is less affordable than the national average.

Is Pinellas County growing or shrinking?

Population growth: +0.2% year-over-year. Job growth: -1.2%. Home values changed -6.4% in the past 12 months.

Are people moving to Pinellas County?

Yes — 2.48% of Pinellas County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

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