Are you planning a move or picking a university? Knowing whether you can afford Tampa’s cost of living is the primary thing before you move or choose a school here. The good news is that this coastal city has a competitive advantage with a lower cost of living compared to other major cities in Florida. Its affordability makes it a balanced option if you seek a good quality of life alongside affordability. Our blog provides comprehensive information about living expenses in Tampa, Florida, empowering you to make informed financial decisions that align with your income level.
What is the Tampa Cost of Living?
Living expenses in Tampa, Florida, include rent, utilities, transportation, meals, groceries, goods, services, and healthcare. The total cost of living in Tampa, FL, is 1.3% Higher than the national average.
- According to Numbeo, a single person’s estimated monthly living expenses in Tampa, Florida, are $1,253 without rent. If renting a one-bedroom apartment outside the city center, the total cost of living is around $2,733 per month.
- In Tampa, Florida, cost of living for a family of four is around $4,445.2 without rent. If renting a three-bedroom apartment outside the city center, the total monthly living expenses should be around $7,056.
| Items | Tampa Cost of Living (Average) | National Cost of Living (Average) |
|---|---|---|
| Home Price | $371,271.00 | $355,328.00 |
| Rent | $1,657.00 | $1,557.00 |
| Utilities | $385.45 | $335.21 |
| Transportation | $444.00 | $439.12 |
| Meals & Groceries | $648.00 | $633.74 |
| Goods & Services | $925.00 | $986.98 |
| Healthcare | $129.00 | $135.63 |
Tampa Cost of Living Breakdown
Housing
Housing constitutes a large percentage of the cost of living in Tampa, FL. It is essential to calculate the expenses of each housing option individually. In Tampa, Florida, cost of living for housing is around 5% higher than the national average.
House & Apartment Prices
The average home value in Tampa is $371,271, with a median home price of $428,820.
| Items | Tampa Cost of Living |
|---|---|
| Apartment for Sale in City Centre (per Square Feet) | $355.65 |
| Apartment for Sale Outside of Centre (per Square Feet) | $225.28 |
| House for Sale Median Price (per Square Feet) | $280.00 |
| Median Sold Price By Bedrooms | Tampa Cost of Living |
|---|---|
| 1 Bedroom | $204,000.00 |
| 2 Bedrooms | $285,000.00 |
| 3 Bedrooms | $409,700.00 |
| 4 Bedrooms | $586,400.00 |
| 5+ Bedrooms | $913,300.00 |
Mortgages play a substantial role in most homebuyers’ overall cost of living in Tampa, FL. As of February 26, 2025, mortgage rates in Florida are at a low of 6.000% for a 30-year fixed mortgage.
Rent
The average rent in Tampa is 6.4% higher than the US average.
| Items | Tampa Cost of Living |
|---|---|
| Apartment (1 bedroom) in City Centre | $1,945.61 |
| Apartment (1 bedroom) Outside of Centre | $1,479.86 |
| Apartment (3 bedrooms) in City Centre | $3,415.00 |
| Apartment (3 bedrooms) Outside of Centre | 2,610.77 |
However, there are several strategies to help you reduce the cost of living in Tampa, FL.
- First, you can choose the optimal time and place to rent. Avoiding peak rental periods, such as the school month, graduation season, and the beginning of the year, often results in more affordable options.
- When seeking a property, uhomes.com is a highly regarded platform, with rental rates typically below the city’s average. Our lowest student housing in Tampa, FL, is priced at $749 per month, which is an attractive option if you are budget-conscious and seek to minimize your overall cost of living in Tampa. Additionally, renting through our exclusive listings eliminate brokerage fees.
- Selecting an area slightly distant from the city center or avoiding the perimeter of the business district can also effectively reduce rental costs.
- Furthermore, you can consider sharing a room or small apartment to save money. If you plan to stay for an extended period, signing a long-term lease may result in favorable rent, as landlords prefer stable tenants.
Utilities
In Tampa Florida, cost of living for utility bills is 15% more expensive than the national average. By renting apartments with utilities included you can save a significant living expenses.
| Items | Tampa Cost of Living |
|---|---|
| Basic (Electricity, Heating, Cooling, Water, Garbage) | $241.71 |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | $72.83 |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | $70.91 |
Transportation
Regarding transportation, cost of living in Tampa, Florida, is 1.1% higher than the US average.
| Items | Tampa Cost of Living |
|---|---|
| One-way Ticket | $2.00 |
| Monthly Pass | $66.00 |
| Taxi Start | $2.50 |
| Taxi 1 mile | $2.40 |
| Gasoline | $3.49 |
Meals & Groceries
When it comes to food, the cost of living in Tampa Bay is 2.2% higher.
| Items | Tampa Cost of Living |
|---|---|
| Meal, Inexpensive Restaurant | $20.00 |
| Meal for 2 People, Mid-range Restaurant | $80.00 |
| McMeal at McDonalds | $11.20 |
| Domestic Beer | $6.25 |
| Cappuccino | $4.98 |
| Coke/Pepsi | $2.62 |
| Milk (regular), (1 gallon) | $4.47 |
| Loaf of Fresh White Bread (1 lb) | $3.57 |
| Rice (white), (1 lb) | $2.31 |
| Eggs (regular) (12) | $4.49 |
| Local Cheese (1 lb) | $8.20 |
| Beef Round (1 lb) | $7.62 |
| Apples (1 lb) | $3.00 |
| Banana (1 lb) | $0.78 |
| Oranges (1 lb) | $2.29 |
| Tomato (1 lb) | $2.26 |
| Potato (1 lb) | $1.76 |
| Onion (1 lb) | $1.83 |
| Bottle of Wine (Mid-Range) | $15.00 |
Goods & Services
In terms of goods and services, the cost of living in Tampa, Florida, is 6.7% less expensive than the national average. This affordability results in relatively low spending on personal expenses.
| Items | Tampa Cost of Living |
|---|---|
| 1 Pair of Jeans | $56.00 |
| 1 Summer Dress in a Chain Store | $33.00 |
| 1 Pair of Nike Running Shoes | $97.50 |
| 1 Pair of Men Leather Business Shoes | $140.75 |
| Toothpaste | $4.02 |
| Shampoo | $1.59 |
| Boy Jeans | $23.95 |
| Dry Cleaning | $15.98 |
| Washer Repair | $81.17 |
| Newspaper | $16.79 |
| Haircut | $24.33 |
| Beauty Salon | $41.43 |
| Fitness Club, Monthly Fee | $35.36 |
| Tennis Court Rent (1 Hour on Weekend) | $8.75 |
| Cinema, International Release | $16.00 |
Healthcare
Regarding healthcare, Tampa’s living costs are 5% lower than the national average. Low costs of medical care and medication offer a competitive advantage for the city.
| Items | Tampa Cost of Living |
|---|---|
| Doctor’s Visit | $128.94 |
| Dentist Visit | $106.03 |
| Optometrist Visit | $118.10 |
| Rx Drug | $223.86 |
| Veterinary Visit | $62.93 |
What Income Do I Need to Live a Quality Life in Tampa?
Though the average cost of living in Tampa, Florida, is slightly higher than the national average, it is generally within an acceptable range, ensuring a comfortable quality of life. A minimum annual income of $59,200 is recommended for a single person; for a family of four, $73,080 annually maintains a quality standard of living.
If you seek employment, understanding the average income provides valuable information for managing Tampa’s living costs. The city’s average salary is $76,000. The average compensation varies between jobs, which is shown in the following table.
| Jobs | Tampa Average Income |
|---|---|
| Project Manager, (Unspecified Type / General) | $81,893.00 |
| Software Engineer | $87,970.00 |
| Operations Manager | $71,063.00 |
| Human Resources (HR) Manager | $74,556.00 |
| Data Analyst | $65,618.00 |
| Director of Operations | $95,840.00 |
| Senior Software Engineer | $120,106.00 |
Conclusion
Our investigation of Tampa’s cost of living reveals that while it is slightly higher than the national average, it is competitive and affordable compared to other major cities in Florida and throughout the United States. Tampa strikes an appealing balance between affordability and quality of life, making it an attractive destination if you seek a beachfront lifestyle without the high living expenses of other beach cities.
FAQ
Is Tampa expensive to live?
Tampa cost of living is lower than many other cities in Florida, such as Miami. The affordability depends on income and lifestyle. A minimum income of $73,080 for a family and $59,200 for a person is recommended to ensure a satisfactory life. Choosing a planned budget and a frugal lifestyle, like opting for cheap student housing, can also make living in Tampa more affordable.
Is Tampa a Good Place to Live?
The strong economic outlook, upward trend in educational attainment, pleasant climate, proximity to the beach, and affordable living expenses in Tampa, Florida, contribute to a growing population. If you seek a high quality of life, more employment opportunities, and a high level of education, Tampa is an attractive place to live.
Is it cheaper to live in Tampa or Miami?
Tampa cost of living is 24% lower than in Miami. The cheaper living expenses are especially evident in housing and transportation. For example, housing costs in Tampa are 18% lower, with the average monthly rent in the downtown area of $1,945.61, while in Miami, it is $2,854.35. Therefore, Tampa is a cheaper option if you seek to reduce your cost of living.
