Terrace Park in Tampa

Terrace Park Homes for Sale in Tampa, FL

Established Tampa neighborhood · Tampa, Hillsborough County · ZIP 33617

An established Tampa neighborhood near USF, value between the city and Temple Terrace.

Established valueNear USFCity parks
Live Market Pulse
50/100
Momentum
Buyer-Leaning Market (limited data)
Terrace Park is older Tampa stock near USF, so condition, the block, and the flood picture, not an area average, decide the buy.
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Listings before the portals, true comps, and the renovation and carrying-cost math, before you tour.

Built fromLive Stellar MLS data14 years of closingsLocal renovation analysisUpdated twice daily
LiveMarket PulseStellar MLS
n/a
Median Price
0mo
Supply
n/a
Avg DOM
Soft
Seller Leverage
n/a
Median $/Sqft
n/a
1-Yr Price Change
0now
Distress
Jon Brooks, founder of Momentum Realty
Jon's Current Read

"Terrace Park is an established Tampa neighborhood near the University of South Florida, so the read is by home and block rather than by area: older single-family stock sits between Tampa proper and Temple Terrace, near USF, Busch Boulevard, and city parks, where condition, the block, and the flood and insurance picture drive value more than the neighborhood name. Your leverage is buying condition and the right block honestly, and pricing the renovation against real comps, with the USF-adjacent location and value pricing as the draws."

Jon Brooks, founder, Momentum Realty · Updated June 2026

The 60-Second Overview

Terrace Park is an established neighborhood within the city of Tampa, Hillsborough County, bounded roughly by the University of South Florida to the north, 30th Street to the west, Busch Boulevard to the south, and Temple Terrace to the east (Wikipedia and city sources, 2026).

It is an older, established residential area of roughly 5,600 residents, with single-family housing stock near USF and the city parks that serve the area, including Temple Crest Park and Takomah Trail Park. Most homes carry no mandatory HOA, and there is no CDD on the established stock.

This is a value and condition buy near a major university, so the money is made or lost on the home's condition, the block, and the flood and insurance picture, not the headline price.

The pitch is attainable, established Tampa living next to USF and minutes from Temple Terrace, Busch Gardens, and the interstates. The work is reading an older home's condition, weighing the block, confirming the flood zone, and quoting insurance before you offer.

Best for

  • Value buyers who want an established Tampa home near USF
  • Buyers comfortable updating older single-family stock
  • Buyers who want proximity to USF, parks, and the interstates
  • Buyers and investors who want attainable near-university pricing

Probably not for

  • Buyers who want new construction or a gated community
  • Anyone unwilling to verify the block, flood zone, and insurance
  • Buyers who want resort amenities included
  • Buyers who want a waterfront or suburban master-plan setting

How Terrace Park is performing right now

50/100
momentum
Buyer-Leaning Market (limited data)
Seller's marketBalancedBuyer's market
0Months of supplytight
56Median days on marketdays
0 : 0Under contract vs for salestrong demand
0Sold in last 12 monthsliquidity
+0%Asking vs recent sold $/sqftroom to negotiate

Tight supply and strong demand favor sellers here. Homes still take about two months to sell, though, and with asking prices running above recent sales per square foot, a prepared buyer has room on anything overpriced. Reading each home against the real comps, not the headline trend, is where the edge is.

Live from Stellar MLS, as of June 24, 2026. Refreshed twice daily. Months of supply, days on market, and the contract-to-listing ratio are computed from current Terrace Park listings and the trailing twelve months of closed sales.

8.6A- score
Momentum intelligence
Momentum buy score

Our proprietary read on how a home in Terrace Park buys, holds, and resells. See the five factors.

Listing locations from Stellar MLS; lot type inferred from listing descriptions. Destination pins are approximate. Map data © OpenStreetMap, tiles © CARTO. Flood, school, and commute overlays are on the roadmap.

The takeaway

Terrace Park offers attainable established Tampa living next to USF, with Busch Gardens, Temple Terrace, and the interstates minutes away, the near-university value case.

University of South Florida~3 to 6 min · at the north edge
Busch Gardens~5 to 10 min · attraction
Temple Terrace~3 to 6 min · adjacent city
Interstate 275~8 to 12 min · regional access
Downtown Tampa~15 to 25 min · via I-275
Tampa International Airport~25 to 35 min · via I-275
AdventHealth Tampa~8 to 12 min · healthcare

Distances and drive times are approximate and vary with traffic. Confirm your real commute at your real departure time.

Nearby Communities

Explore more neighborhoods near Terrace Park with Momentum Realty’s local guides.

HAHillcrest AcresTampa, FL · 0.4 miTTTemple Terrace Patio Homes A-C:the low-maintenance buy near USFTemple Terrace, FL · 0.7 miBTBella TerrazaTownhomesTemple Terrace, FL · 0.8 miRWRiverwalk at Waterside IslandTampa, FL · 1.0 miTCTemple CrestTampa, FL · 1.1 miTOTerrace OaksTownhomesTampa, FL · 1.1 miRIRiverdaleTampa, FL · 1.1 miTPTemple ParkTemple Terrace, FL · 1.2 miHEHerchelHeightsTampa, FL · 1.2 mi

Browse all Florida neighborhood guides →

Carrying cost · the no-CDD edge

No CDD bond means thousands less per year than newer master plans.

Typical CDD community~$2,500/yr
Terrace Park (no CDD)$0/yr

Roughly $25,000 saved over 10 years in carrying cost, before resale.

Illustrative. NE Florida CDD assessments commonly run $1,500-$3,500+/yr and vary by community; verify per property.

Schools

15-Second Take
  • Hillsborough County Public Schools
  • Verify the zoned schools by address
  • Magnet and choice options may be available
  • Confirm current ratings before relying on them
  • Private and parochial options nearby

Terrace Park is served by Hillsborough County Public Schools. Assignment is by address and can change, so confirm the exact zoned elementary, middle, and high schools for any specific home, plus any magnet or choice options. Treat published ratings as a starting point, not the full story.

Public

Hillsborough County Schools (verify by address)

Verifyrating
By address

Confirm zoned elementary, middle, and high

Verifyrating

Buying with schools in mind? We can confirm the exact zoned schools for any Terrace Park address.

The takeaway

What is actually shaping value at Terrace Park: steady demand near the University of South Florida, established Tampa value, and the condition and flood dynamics of an older near-university neighborhood. Each item is sourced and linked.

Recent Developments in Terrace Park

Our read on what is being built around Terrace Park, scored for direction, significance, and how close the effect lands. The full sourced timeline follows below.

Net OutlookBullishNear-USF demand and established value support steady interest, with the watch items being block-by-block variation, older-home condition, and flood exposure.

University of South Florida proximity

Ongoing
BullishNotable impact
SignificanceRadius: Area

Being adjacent to USF supports steady housing and rental demand that underpins the neighborhood.

Established Tampa value

Ongoing
BullishNotable impact
SignificanceRadius: Area

Attainable pricing in an established city neighborhood near major employers draws value buyers and investors.

Older housing stock

Ongoing
NeutralNotable impact
SignificanceRadius: Community

Aging homes mean roof, systems, and updates are the swing factor, read home by home.

Block-by-block variation

Ongoing
NeutralNotable impact
SignificanceRadius: Community

Values and condition vary block by block, so the block matters as much as the home.

City parks and recreation

Ongoing
BullishMinor impact
SignificanceRadius: Community

Free city parks with playgrounds, tennis, and trails add everyday amenity value to the neighborhood.

Flood and insurance considerations

Ongoing
NeutralMinor impact
SignificanceRadius: Area

Flood exposure varies by parcel, making the FEMA check and insurance quote worthwhile per home.

Direction, significance, and effect-radius ratings are Momentum's proprietary, qualitative read of the sourced items below, not investment advice or a prediction for any specific home.

Development, infrastructure, retail, and school activity affecting Terrace Park, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated June 2026.

Showing the latest, scroll for all updates ↓

  1. January 2026
    Market

    Terrace Park remains an established near-USF Tampa value

    Terrace Park is described as an established Tampa neighborhood bounded by USF, 30th Street, Busch Boulevard, and Temple Terrace, with older single-family homes, city parks, and attainable pricing. Why it matters: A near-university location at attainable prices keeps the neighborhood in steady demand. Source

  2. January 2025
    Community

    Terrace Park served by free city parks

    The City of Tampa operates several free parks in Terrace Park, including Temple Crest Park with a playground and tennis courts and Takomah Trail Park with wildlife trails, serving the established neighborhood. Why it matters: City parks add everyday amenity value that supports the neighborhood without HOA dues. Source

Development alerts for Terrace ParkGet a short monthly email when something new is approved, funded, or opens near Terrace Park.

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Summaries reflect public reporting and official sources linked above as of the dates shown. Project details, timelines, and approvals can change. Commentary on potential market effects is general observation, not investment advice or a prediction for any specific property. For the freshest items across the whole region, see This Week in Northeast Florida.

If we were buying in Terrace Park, this is the order of operations we would run, and the one we run for our clients.

1

Read the block, not just the listing. In an established near-university area, the block and its condition drive value, so study recent sales nearby.

2

Judge the home by condition. Terrace Park is older stock, so roof age, systems, and updates separate a deal from a project.

3

Verify the flood zone and insurance early. Run the FEMA flood zone and a real insurance quote for the exact address.

4

Confirm there is no surprise HOA. Most homes have no mandatory HOA, so verify what, if anything, applies.

5

Use the near-USF context, and cross-shop other established Tampa neighborhoods such as Bellmont Heights for value.

Best Buy
An updated home on a strong block matched to real comps
Biggest Risk
Underbudgeting renovation and misreading the block
Best Lot
A parcel on a stronger block, higher and drier
Smart Timing
Confirm the block, flood zone, and insurance before you offer
The takeaway

On mobile, tap any heading below to open it. This is the home by home, lot by lot, club and renovation detail, organized so you can jump straight to what matters to you.

Community Details at a Glance

The Homes

Type

Established older single-family homes

Area

Near USF, between Tampa and Temple Terrace

HOA

Most homes none, verify newer infill

Status

Established, resale market

Costs & Fees

HOA

None on most older homes, verify the specific home

CDD

None on the established stock

Worth noting

Condition and flood insurance are real cost drivers

Amenities

Parks

Temple Crest Park and Takomah Trail Park

University

USF at the north edge

Attractions

Busch Gardens nearby

Access

I-275 and the interstates close by

Location

Area

Tampa, Hillsborough County, ZIP 33617

Access

I-275 to downtown and the airport

Adjacent

Temple Terrace and USF

The takeaway

Three honest price bands. Condition and lot, not the square footage alone, decide where a home lands.

The Renovation Entry

Older homes that need work, the most affordable way into an established near-USF neighborhood.

Lowest entry
The Updated Core

Renovated homes on stronger blocks, the heart of the resale market here.

Most inventory
The Top

The most updated homes on the strongest blocks, the ones that hold value best.

Strongest resale

Approximate 2026 resale bands from third-party listing data and public records, not NEFAR statistics. Confirm pricing for a specific home.

The Renovation Entry
Older homes that need work, the most affordable way into an established near-USF neighborhood.
The Updated Core
Renovated homes on stronger blocks, the heart of the resale market here.
The Top
The most updated homes on the strongest blocks, the ones that hold value best.

Approximate 2026 resale bands from third-party listing data and public records, not NEFAR statistics. Confirm pricing for a specific home.

15-Second Take
  • Renovation math decides the deal
  • Better lots and views resell strongest
  • Roof and HVAC age drive the insurance quote
  • Interior lots are where buyers overpay
Jon Brooks, Momentum Realty
Operator Note

Most buyers overpay on interior lots in the back half of the community. A sharp renovation can distract you, but the weaker resale position follows the lot, not the finishes. We read the homesite before the kitchen.

Location within TampaStrong
Established communityPositive
HOA and CDD postureConfirm per parcel
Home condition and systemsVerify per home
Flood read per lotVerify per address

Momentum analysis based on the community's structure, location, lot scarcity, and housing stock. Not a guarantee of future value.

Jon Brooks, Momentum Realty
Operator Note

The strongest value pocket is usually a renovated home on a good lot priced just under the next tier up. Buyers chasing the single biggest house often pay top prices for what is really a renovation project.

5 Mistakes Buyers Make in Terrace Park

15-Second Take
  • Calling the listing agent (who works for the seller)
  • Misjudging the renovation budget
  • Overpaying for an interior lot
  • Underbudgeting the carrying costs
  • Skipping the roof, HVAC, and systems check

The same five mistakes cost buyers the most in any market. Every one is avoidable with the right preparation before you tour.

The USF location is the constant; the blocks vary. The deal is won or lost on the block, the condition, and the renovation math.

Jon Brooks · Founder, Momentum Realty
6.6B- · Buy Score
Resale Strength6.4/10
Renovation Risk5.6/10
Location Efficiency7.8/10
Long-Term Defensibility6.4/10
Carrying Cost Advantage7.2/10

Momentum Intelligence Scores are our proprietary, qualitative assessment based on the analysis on this page, on a 0 to 10 scale. They are a framework for comparing communities, not a guarantee of future value or advice on a specific home.

Why our read on Terrace Park is different.

Most pages on this community are an automated estimate wrapped in stock copy. This one is built from the live Stellar MLS feed, fourteen years of closed sales, and a renovation-by-renovation read of what actually moves value here, lot by lot. No Zestimate, no guesswork.

Live Stellar MLS feed14 years of closed salesRenovation-premium analysisLot-by-lot, no automated estimates
Jon Brooks, founder of Momentum Realty. A housing economist with a background in real estate investment banking at Deutsche Bank and consulting at Ernst & Young, who has built and analyzed Northeast Florida real estate from the ground up.

Which Lots & Views Hold Value Best

Where the value actually sits. Each home is shaded by its price per square foot (a value read, not just a price) and ringed by lot type, so you can see at a glance which pockets carry a real, durable premium and where a renovation play makes sense.

Value ($/sqft)
$261 value$401 premium
Lake / waterPreserveInterior

Fill = price per square foot; ring = lot type, inferred from listing descriptions. Sold homes are shown by realized $/sqft (lot type not always recorded). Asking and recent-sold figures from Stellar MLS; for orientation, not an appraisal.

15-Second Take
  • The block drives value near the university
  • Stronger blocks hold value best
  • Condition and roof age drive the price
  • Most older lots carry no mandatory HOA
  • Read the block and condition before the finishes

In an established near-university neighborhood, the block and the home's condition are the part of your money the market protects. Stronger blocks and updated, well-insured homes hold value better than weaker blocks or dated stock. The house can be renovated; the block and the proximity to USF set the trajectory. Read the block and the condition first, then price the renovation against the closest recent comps.

Terrace Park in 15 seconds.

Best forValue buyers who want an established Tampa home near USF.
Biggest advantageA USF-adjacent location and city parks at attainable, established pricing.
Biggest riskOlder condition and block-by-block variation, plus flood exposure.
Sweet spotAn updated home on a strong block, matched to comps.
Avoid ifYou want new construction, a gate, or a waterfront setting.

HOA, Fees & the Real Costs

15-Second Take
  • Most homes have no mandatory HOA
  • No CDD on the established stock
  • Condition and renovation are real cost drivers
  • Flood zone and insurance drive carrying cost
  • A near-USF location is the durable draw

Most homes in Terrace Park carry no mandatory HOA, and there is no CDD on the established stock. The real costs sit in the home and the parcel: roof and systems on older stock and flood insurance on lower parcels. Confirm what, if anything, applies to the specific home.

With no association on most homes, budget for renovation and maintenance rather than HOA dues, plus an insurance quote that reflects the parcel and the flood zone. Verify any fee on newer infill.

The takeaway

Selling here is won on condition and view, not the Zestimate. The right number comes from closed comps matched to your renovation level and lot.

Momentum listings (YTD)
97.98%
Sold-to-list ratio across our market for our agents, sellers keeping more of their price.
Market average (YTD)
96.73%
The broader metro average sold-to-list ratio over the same period.
Momentum days on market
64 days
Median days on market for our listings, faster sales mean less carrying cost and stronger leverage.
Market days on market
72 days
The broader metro median over the same period.

Sold-to-list and days-on-market figures reflect Momentum Realty listings versus our market average, year to date. Your home's result depends on pricing, condition, lot, view, and preparation.

In Terrace Park, condition and view decide your number

Because buyers here are weighing your home against renovated comps and cross-shopping Bellmont Heights, a home priced to the community average instead of its true condition and view either leaves money on the table or sits. A renovated kitchen, newer roof and HVAC, and a golf or lake view all deserve to show up in your price, and a buyer pool reading renovation math needs to be shown why your home is worth it. We build that case with real comps and a pricing strategy for the current market.

What is your Terrace Park home worth?

Get a no-obligation home value based on real comparable sales in Terrace Park matched to your condition, lot, and view, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.

See homes for sale in Terrace Park on the map →
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Real comps, not a Zestimate.

Terrace Park Market Scorecard

Strong seller's market

Terrace Park is currently a strong seller's market. About 1.8 months of supply, a median asking price of $1,019,500, and homes go under contract in about 79 days.

1.8
Months supply
$1,019,500
Median list
$847,500
Median sold
$313
Per sqft
79
Days on mkt
6/8/41
Active/Pend/Sold

Typical home value in the 32224 ZIP is $456,759, about 13.7% above the Florida norm (Zillow Home Value Index).

Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.

Live data: Stellar MLS, refreshed twice daily. Typical value: Zillow Research. Market metrics only; these describe homes for sale and recent sales, not residents.

Frequently Asked Questions

Where is Terrace Park?
Terrace Park is an established neighborhood in Tampa, Hillsborough County, bounded roughly by USF to the north, 30th Street to the west, Busch Boulevard to the south, and Temple Terrace to the east, ZIP 33617.
Is Terrace Park the same as Temple Terrace?
No. Terrace Park is a Tampa city neighborhood adjacent to the separate city of Temple Terrace. They are distinct, though they border each other.
What kind of homes are in Terrace Park?
Established, older single-family homes near USF and the city parks, generally owner-occupied with no mandatory HOA.
Does Terrace Park have an HOA?
Most homes carry no mandatory HOA, and there is no CDD on the established stock. Confirm what, if anything, applies to a specific home.
Is Terrace Park a good value?
An established, attainable Tampa neighborhood next to USF is the value case. Because the stock is older, condition and the block drive the real outcome.
Should I worry about flood zones here?
Verify it. Parts of the area carry flood exposure, so always run the FEMA flood zone and a real insurance quote for the exact address.
What is near Terrace Park?
The University of South Florida is at its north edge, with Busch Gardens, Temple Terrace, city parks, and the interstates close by.
What schools serve Terrace Park?
Terrace Park is part of the Hillsborough County school district. Assignment is by address and can change, so confirm the exact zoned schools for any home.
Is Terrace Park good for investors?
Its attainable pricing and proximity to USF draw investor interest, but block-by-block variation and older-home condition are real. The block and the numbers drive the outcome; this is not a guarantee of future value.
Are there city parks in Terrace Park?
Yes. The city of Tampa operates free parks in the neighborhood, including Temple Crest Park with a playground and tennis courts and Takomah Trail Park with wildlife trails.
Is there new construction in Terrace Park?
It is primarily an established neighborhood of older homes, though individual lots may see renovation or infill. Verify the specifics of any home.
What should I check before buying in Terrace Park?
The specific block, the home's condition and roof age, the FEMA flood zone and insurance quote, any HOA on newer infill, and the renovation budget.
Value buyers who want an established Tampa home near USFExcellent fit
Buyers comfortable updating older single-family stockExcellent fit
Buyers who want proximity to USF, parks, and the interstatesExcellent fit
Buyers and investors who want attainable near-university pricingExcellent fit
Buyers who will read the block, flood zone, and conditionExcellent fit
Buyers who want new construction or a gated communityProbably not
Anyone unwilling to verify the block, flood zone, and insuranceProbably not
Buyers who want resort amenities includedProbably not
Buyers who want a waterfront or master-plan settingProbably not
Buyers unwilling to budget renovation on older homesProbably not

Get the inside read on Terrace Park

Whether you are buying a renovation project, comparing the lots and views, weighing the carrying costs, or selling your Terrace Park home, tell us what you need. Every inquiry comes straight to us. We represent you, not the seller, and what your agent is paid is negotiable and set in a written buyer agreement up front. No obligation, no spam, no high-pressure follow-up.

We respond personally, usually the same day.

You are all set.

A Momentum Realty Terrace Park specialist will reach out personally, usually the same day.

Thinking about hiring an agent here? How to find the best real estate agent in Terrace Park — what to look for, questions to ask, and your local expert.
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Photography on this page is sourced from active and recently sold MLS listings in this community and remains the property of the listing brokerage and/or photographer. Listings courtesy of Stellar MLS as distributed by MLS GRID. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing; deemed reliable but not guaranteed by MLS GRID.

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