Reviewed and updated for Tampa Bay buyers and sellers. Local guidance by Erik Michor, RE/MAX Bayside.
Waterset at a glance
Waterset is a Newland master-planned community in Apollo Beach, Hillsborough County, about 16 miles south of downtown Tampa - south of Big Bend Road between US-41 and I-75 (exit 246). It opened in 2012 and is planned to grow through later phases toward roughly 5,000-plus homes, with a half-mile tree-lined entry that sets the tone.
What buyers love is the lifestyle density: more than 12 miles of trails, 10-plus parks, multiple resort-style pools, several clubhouses and fitness centers, and sports courts including pickleball, plus a busy community-events calendar. Seven builders give a wide range of price points and floor plans, and there's a gated 55-plus enclave - Regency at Waterset by Toll Brothers - for active-adult buyers. If you want an amenity-rich, sociable, newer-home neighborhood close to MacDill and the bay, Waterset is a strong fit.
2012first opened
~5,000+homes at buildout
7home builders
12+ miof trails
16 misouth of Tampa
The neighborhoods and home types in Waterset
Waterset spans many phases and builders, so the "right" Waterset depends on the segment you choose:
| Segment | Character | Typically suits |
|---|
| Single-family (core phases) | The bulk of Waterset - a range of sizes and price points from seven builders. | Families and move-up buyers wanting amenities and new construction. |
| Newer phases | Most current new-construction inventory and builder incentives. | Buyers comparing brand-new homes and lot premiums. |
| Townhomes / lower-maintenance | Smaller-footprint options within the master plan. | First-time buyers and lock-and-leave owners. |
| Regency at Waterset (55+) | Gated active-adult neighborhood by Toll Brothers with its own amenity, The Cove. | Active adults wanting single-level, low-maintenance living. |
If waterfront or boating is what you really want, Waterset is inland - see MiraBay or the Apollo Beach waterfront guide instead. To compare across the area, start with Apollo Beach homes for sale.
Schools
Waterset is served by Hillsborough County public schools, with options from preschool through high school in and around the community:
Hillsborough County public schoolsOn-site / nearby elementaryConfirm exact zoning
School assignments in growing areas like south Hillsborough are revisited periodically as new schools open and boundaries shift. The community has highly rated school options nearby, but the only way to be sure is to confirm the assigned schools for the exact address you're considering.
Important: school zoning is assigned by specific address, not by community name, and Hillsborough and Pasco county boundaries can be redrawn. Before you write an offer, confirm the exact zoned schools for that property. I verify this for every client - just ask me to check a specific address.
The true cost of owning in Waterset
Waterset is a CDD community, so your monthly number includes more than price and taxes. Budget for each layer:
| Cost layer | What to expect | Notes |
|---|
| Purchase price | From roughly the $300s into the $700s+ depending on segment and size (as of early 2026 - VERIFY current figures) | Townhomes lowest; larger single-family and Regency highest. |
| CDD fee | Annual CDD billed with property taxes (varies by phase - VERIFY) | Funds roads, utilities, and amenities; separate from HOA. |
| HOA dues | Community HOA dues (VERIFY current amount) | Maintains pools, parks, clubhouses, and common areas. |
| Property taxes | Hillsborough County millage on assessed value | Homestead exemption can reduce this for primary residences. |
| Insurance | Florida homeowners insurance; confirm wind/flood per address | Get a real quote during due diligence, not an estimate. |
CDD amounts differ by phase, so always request the exact figure for the specific home. Estimate it with my CDD fee calculator, and weigh the amenity trade-offs in the HOA vs no-HOA guide.
Want the real monthly number on a specific Waterset home? Send me the address and I'll break down price, CDD, HOA, taxes, and an insurance ballpark so you're comparing total cost of ownership - not just sticker price.
Get a cost breakdown
The amenity lifestyle (and what it costs you)
Waterset's amenity package is its signature: multiple pools, two-plus clubhouses, fitness centers, 12-plus miles of trails, 10-plus parks, sports courts, and a full events calendar with things like food-truck festivals and a concert series. For families and social buyers, that's a genuine draw - you're paying for a lifestyle, not just a house.
The honest counterpoint: those amenities are funded by your HOA and CDD whether you use them daily or not. The buyers happiest in Waterset are the ones who'll actually use the pools, trails, and events. If you're more of a stay-home, low-fee buyer, it's worth comparing a quieter community before you commit.
Location & commute
Waterset's location is one of its strengths - close to interstates, the bay, and major employers:
- I-75 (exit 246, Big Bend): less than two miles, with US-41 and US-301 also close.
- Downtown Tampa: roughly 16 miles north; test it at rush hour.
- MacDill AFB: a common commute for military families - drive it before committing.
- Beaches, St. Petersburg, Sarasota: reachable via the interstate system.
If a manageable commute is a hard requirement, drive your actual route at your actual departure time before you make an offer. It's the cheapest due diligence you'll ever do.
Honest pros and cons
| Strengths | Trade-offs to weigh |
|---|
| Deep amenity package: pools, trails, parks, events | CDD plus HOA raise the true monthly cost |
| Seven builders - wide range of prices and plans | Inland - no boating or direct waterfront |
| Gated 55+ Regency option for active adults | Some phases still under construction |
| Close to I-75, MacDill, hospitals, and the bay | Popular and busy - amenities can be crowded at peak times |
My smart-buyer strategy for Waterset
Here's how I help buyers choose well in Waterset:
- Match the segment to your life - single-family, townhome, or Regency 55+.
- Pull the exact CDD and HOA for the specific phase and fold them into the payment before you tour.
- Be honest about amenity use - the value is real if you'll use the pools, trails, and events.
- Compare new construction to resale on total cost and resale outlook.
- Get a real insurance quote for the specific home during your inspection period.
That's the difference between buying a Waterset home and buying the right one. I'm glad to walk you through it with no pressure.
Waterset real estate FAQ
Where is Waterset and who developed it?
Waterset is a Newland master-planned community in Apollo Beach, Hillsborough County, about 16 miles south of downtown Tampa, south of Big Bend Road between US-41 and I-75. It first opened in 2012 and continues to grow toward roughly 5,000-plus homes.
What amenities does Waterset have?
Waterset offers more than 12 miles of trails, 10-plus parks, multiple resort-style pools, several clubhouses and fitness centers, sports courts including pickleball, and a year-round community events calendar.
Is Waterset a waterfront or boating community?
No - Waterset is an inland master-planned community focused on amenities and walkability. For canal or bay access and boating in Apollo Beach, look at MiraBay or other waterfront neighborhoods.
Does Waterset have CDD and HOA fees?
Yes. Waterset has a CDD assessment billed with property taxes plus a separate HOA that maintains the amenities and common areas. Amounts vary by phase, so confirm the exact figures for any specific home.
Is there a 55+ option in Waterset?
Yes - Regency at Waterset by Toll Brothers is a gated active-adult neighborhood with low-maintenance, single-level homes and its own resort-style amenity, The Cove, with a dedicated lifestyle director.
Helpful next steps
Thinking about Waterset? Let's find the right fit.
Tell me your budget, timeline, must-haves, and commute, and I'll help you compare Waterset - and nearby alternatives - that actually fit.