With an estimated population of 265,351, St. Petersburg is the fifth-largest city in Florida. It sits on the Pinellas peninsula, right between the Gulf of Mexico and Tampa Bay. Locals often refer to the city as St. Pete, though many know it as the Sunshine City as well. The city owes its nickname, the Sunshine City, to its sunny weather, experiencing an average of 361 days of sunshine every year. In fact, St. Petersburg even holds the Guinness World Record for the most consecutive days of sunshine, at 768 days.
The median household income in St. Petersburg is $53,816. About 12% of the population holds a master’s degree or higher, while 22% holds a bachelor’s degree. Moreover, 30% attain some college or associate degree, whereas 26% receive a high school diploma or its equivalent.
Most of the city’s population (about 18%) consists of seniors aged 65 and above. In addition to its popularity among retirees, St. Petersburg has managed to draw in a younger demographic in recent years. In fact, 15% of the resident population in the city are aged 25-34 and 12% are aged 35-44. Residents that fall under the 45-54 and 55-64 age brackets make up 14% and 15% of the population, respectively.
Both young and old alike, though, consider the potential for property value increase as a major consideration when purchasing a home. As such, properties that belong to homeowners associations remain a top choice among potential buyers.
For HOAs, the struggle to maintain property values mainly lies in proper community management. It is difficult to ensure property values improve without the right knowledge and skills. HOA boards can only do so much, especially given what little time they have. For this reason, a large percentage of homeowners associations turn to professional St. Petersburg HOA management companies for help.
Hide Text