Saint Petersburg Home Prices: $387K, Down 7.4% — 14 ZIPs (2026)
$387,357. That is what a typical home in Saint Petersburg is worth as of February 2026, and the number is 7.4% lower than a year ago. Across 14 ZIP codes the city tracks, values range from $162,921 in 33716 to $733,242 in downtown 33701.
Quick answer: The average home price in Saint Petersburg, FL is $387,357 as of February 2026, down 7.4% year over year according to Zillow.
Current Home Prices in Saint Petersburg
The headline number tells most of the story. Saint Petersburg homes sit at $387,357, a drop of about $31,000 from where they were one year earlier. That puts the market roughly back where it was in early 2023.
| Metric | Value |
|---|---|
| Median home value (Feb 2026) | $387,357 |
| Year-over-year change | -7.4% |
| Cheapest ZIP | 33716 — $162,921 |
| Most expensive ZIP | 33701 — $733,242 |
| ZIP codes tracked | 14 |
| Metro area | Tampa-St. Petersburg-Clearwater |
The spread between the cheapest and priciest ZIP is more than 4.5x. That is a wide gap for a city of this size, and it reflects the difference between waterfront neighborhoods and inland blocks built decades earlier.
The 7.4% annual drop is steeper than what most national indexes show for the U.S. as a whole. Florida coastal markets, including the Tampa metro, have given back a chunk of the run-up that ran through 2022. Insurance costs, property taxes on reassessed values, and a backlog of new construction in the broader region all factor into the slide.
For a buyer with $80,000 saved for a down payment, that 7.4% decline shifts the math. The same $80,000 now covers the standard 20% on a roughly $400,000 home, where 12 months ago it would have covered closer to $370,000 of price.
Saint Petersburg Home Prices by Neighborhood
The 14 ZIPs the data tracks split into three rough tiers: waterfront premiums, mid-tier neighborhoods near the city core, and lower-priced inland or workforce-housing pockets.
| ZIP Code | Median Value | Avg Rent (ZORI) |
|---|---|---|
| 33701 | $733,242 | $2,597 |
| 33704 | $718,310 | $2,264 |
| 33708 | $508,126 | $2,154 |
| 33715 | $468,923 | $4,032 |
| 33703 | $386,289 | $2,518 |
| 33710 | $368,527 | $1,832 |
| 33713 | $351,363 | $2,090 |
| 33705 | $319,442 | $2,224 |
| 33712 | $310,884 | $1,925 |
| 33702 | $296,865 | $1,954 |
| 33711 | $271,028 | $2,153 |
| 33714 | $264,138 | $1,578 |
| 33709 | $262,933 | $1,923 |
| 33716 | $162,921 | $1,798 |
Most Expensive
33701 — $733,242. Downtown Saint Petersburg, including the waterfront and the museum district. Rents here also run high at $2,597, the second-priciest in the city.
33704 — $718,310. Old Northeast and surrounding bayfront blocks. Values are within 2% of 33701 but rents are notably lower at $2,264.
33708 — $508,126. The Madeira Beach corridor on the Gulf side. About 31% above the city median, with rents close to the citywide average.
Most Affordable
33716 — $162,921. The Carillon and Gandy area near the bay bridges. Less than half the city median and the only ZIP under $200,000.
33709 — $262,933. Lealman and Kenneth City. Sits 32% below the city median with rents near $1,923.
33714 — $264,138. Pinellas Park’s southern edge. Posts the lowest rent in the city at $1,578, making it the cheapest ZIP for tenants too.
Rent vs Buy in Saint Petersburg
The rent picture varies almost as much as home prices. ZIP-level rents range from $1,578 in 33714 to $4,032 in 33715, with most neighborhoods clustered between $1,900 and $2,600.
| Scenario | Monthly Cost |
|---|---|
| Average rent (mid-tier ZIPs) | ~$2,150 |
| Mortgage P&I on $387,357 home, 20% down at 7% | ~$2,062 |
| Estimated total PITI with FL property tax and insurance | $2,800-$3,200 |
On the surface the mortgage payment looks competitive with rent. The catch is what comes after the principal and interest. Florida property tax on a non-homesteaded purchase typically runs 1.0% to 1.5% of value annually, and homeowner insurance for a Pinellas County property has climbed sharply over the past three years. Once those costs are added in, owning the median home runs $700 to $1,000 more per month than renting in the average ZIP.
That gap shrinks if you stick to a cheaper ZIP. A buyer at the $262,933 price point in 33709 would face a mortgage payment closer to $1,400 P&I, which lands much nearer to the $1,923 average rent for that area.
The price drop has done a little to close the gap. With values 7.4% lower than last year, the monthly mortgage on the same home is roughly $150 less than it would have been 12 months ago at the same rate.
Saint Petersburg Housing Market Trends
The 12-month trend is a consistent slide that has flattened in the most recent prints.
| Month | Median Value |
|---|---|
| March 2025 | $418,323 |
| April 2025 | $414,763 |
| May 2025 | $410,514 |
| June 2025 | $405,722 |
| July 2025 | $400,454 |
| August 2025 | $395,519 |
| September 2025 | $391,406 |
| October 2025 | $388,680 |
| November 2025 | $386,889 |
| December 2025 | $385,870 |
| January 2026 | $386,029 |
| February 2026 | $387,357 |
Two patterns stand out. First, the bulk of the decline happened between March and October 2025, when values fell from $418,323 to $388,680 — a $29,643 drop in seven months. Second, the last four readings have moved in a narrow $1,500 band, with February ticking up $1,328 from January. That is the first back-to-back monthly gain in the dataset.
The upper end of the market took the biggest hit in dollar terms. The maximum ZIP value fell from $763,472 in March 2025 to $733,242 in February 2026, a $30,230 decline. The minimum ZIP, meanwhile, slid from $192,145 to $162,921 — a much steeper 15.2% drop in percentage terms. Lower-priced ZIPs gave back ground faster than the premium waterfront areas.
Is Saint Petersburg a Good Place to Buy in 2026?
The data points to a buyer’s market that may be turning. Prices are down 7.4% year over year, the bulk of that drop happened months ago, and the most recent two prints show stabilization rather than further declines. A buyer entering today is paying close to the lowest the market has seen in nearly two years.
Three numbers matter for that decision. The 33716 ZIP at $162,921 is the only sub-$200K option in the city. The 33701 and 33704 ZIPs above $700,000 are the only neighborhoods where you are paying a clear waterfront premium. Everything in between — eight of the 14 ZIPs sit between $264,000 and $387,000 — gives a buyer with median income a reasonable price-to-rent ratio if they plan to stay for at least five years.
The risk is insurance. Saint Petersburg sits on the Pinellas peninsula and most lenders require windstorm and flood policies. Quote the insurance before you sign a contract.
Saint Petersburg Housing Market Outlook for 2026-2027
The 12-month curve points down, but the 3-month curve points sideways. Values bottomed at $385,870 in December 2025, ticked up to $386,029 in January, and rose again to $387,357 in February. If the current pace continues, Saint Petersburg has likely already seen the floor of this cycle.
That said, the year-over-year number is still negative and the metro has more new construction coming online through 2026. A flat-to-slightly-negative six months is the base case the recent data supports, with the possibility of small monthly gains continuing if the February uptick holds.
A return to the $418,323 high from early 2025 would require a 7.9% rebound. Nothing in the trend suggests that pace. A more reasonable read is a market that drifts within $5,000 of the current $387,357 mark for the next two to three quarters.
Similar Markets in FL
If you are weighing Saint Petersburg against other Florida options, these markets sit at different price points:
- Tampa — The other half of the same metro, useful for direct comparison.
- Orlando — Inland Central Florida, a different cost structure without the coastal insurance pressure.
- Jacksonville — North Florida’s largest market, generally more affordable than the Gulf coast.
- Port Saint Lucie — A smaller East coast market that tracks differently than Pinellas County.
- Fort Lauderdale — Higher-priced South Florida coast for buyers comparing waterfront premiums.
Frequently Asked Questions
What is the average home price in Saint Petersburg?
The average home price in Saint Petersburg, FL is $387,357 as of February 2026. That figure is the citywide median across the 14 ZIP codes Zillow tracks, with individual neighborhoods ranging from $162,921 in 33716 to $733,242 in downtown 33701.
Are home prices going up or down in Saint Petersburg?
Prices are down 7.4% over the past 12 months, dropping from $418,323 in March 2025 to $387,357 in February 2026. The decline has stalled in the most recent four months, with February posting the second straight small monthly gain.
Is it cheaper to rent or buy in Saint Petersburg?
Renting is cheaper month to month in most ZIPs. The average rent across the city’s neighborhoods runs near $2,150, while the full PITI payment on the median $387,357 home — including Florida property tax and insurance — typically lands between $2,800 and $3,200.
What is the most affordable neighborhood in Saint Petersburg?
ZIP 33716 is the cheapest at $162,921, the only Saint Petersburg ZIP under $200,000. ZIPs 33709 and 33714 are next at roughly $263,000 and $264,000, both more than 30% below the city median.
Methodology
Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.