Pasco County, FL - Urban Land Institute

Market Potential
Understanding vital socioeconomic trends
that are affecting Pasco County can help
planners and economic policy makers
identify the potential and pressure for
future land uses and business development opportunities.
Successful urban planning, land use
and development policy can best be described as
public action that generates a desirable, widespread,
and sustainable private market reaction.
It should be noted that the following market
analysis rep re sents baseline projections of future
growth that Pasco County can take steps to improve
or impede.
Pasco County is an integral part of the Tampa
MSA and until the last 18 months this region
has experienced some of the most substantial
growth in the United States. After a period of destabilization,
this expansion is likely to continue,
through future decades.
As recently as 1980, Pasco County had just
193,640 people, or 12 percent of the population
of metropolitan Tampa. As of 2008, Pasco County
has 449,500 people, or 16 percent of Tampa’s population,
and in recent years has been capturing almost
25 percent of the region’s population growth.
It is projected that Pasco County, over the next
two decades, will grow annually by 12,900 people
in 5,600 households and this will be complemented
by 24,600 seasonal or second homes. The following
sections discuss these economic trends by
land use.
Figure 1
Tampa MSA Demographics
Average Annual Change
1980 2008 2028 1980–2008 2008–2028
Population 1,613,600 2,828,070 3,829,670 43,030 50,580
Employment 718,900 1,649,900 2,001,200 33,250 35,130
Households 656,550 1,192,260 1,639,460 19,130 22,360
Second Homes 50,350 61,970 70,600 415 430
Source: THK Associates.
Figure 2
Pasco County Demographics
Average Annual Change
1980 2008 2028 1980–2008 2008–2028
Population 193,640 449,490 707,890 9,140 12,920
Households 81,350 194,050 306,850 4,030 5,640
Second Homes 10,900 17,430 24,600 230 360
Source: THK Associates.
Pasco County, Florida, April 20–25, 2008 11