Oyster restoration efforts across the Gulf generally focus on the provision of hard surfaces needed for spat settlement in substrate-limited areas. Understanding the long-term efficacy of these substrates is important to guide future restoration efforts. This study monitored 16 artificial oyster reefs (1–14 years old) in Tampa Bay, Florida that were constructed from bagged shell, loose shell, or concrete oyster balls and compared their oyster populations to three natural oyster reefs. Live oyster density, shell height, gastropod predator density, reef elevation, burial by sediment, spat recruitment, water quality, and reef rugosity were monitored annually or biannually for two years. High-elevation reefs had significantly higher live oyster density, less sediment burial, and lower gastropod predator density. Oyster populations on low-elevation reefs were less dense but individuals were larger in size. Shell bags had higher oyster density and lower predator density compared to oyster reef balls. The results of this study support the placement of artificial substrates at a broad range of intertidal elevations. Artificial oyster reefs in the higher intertidal zone (with inundation frequency 54–70%) support higher numbers of oysters and are well positioned for long-term survival as they receive less sedimentation and are poised to remain at optimum inundation frequencies with rising sea-levels. However, oysters on low-elevation reefs (with inundation frequency >90%) reach larger sizes and are disproportionately important for water filtration and spat production. Locating artificial reefs at a variety of locations and elevations allows restoration practitioners to take precautions against future disturbances (e.g., salinity extremes, hurricanes, predation) that may cause localized mortality. Having a diverse array of oyster reefs within an estuary provides a safeguard for local spat production, repopulation, and regional resilience.