Cost of Living in Tampa, FL

April 04th, 2023

Cost of Living in Tampa, FL

Cost of Living in Tampa

Are you wondering how much it would cost to live in Tampa? Follow along as we discuss the essential costs of living in Tampa, Florida.

Around 1,000 people are moving to Florida daily, and hundreds are specifically moving to Tampa, Florida. The city of Tampa allows you to experience life in a city while also being near the water. You get city life and vacation all in one. 

Over the years, Tampa has been the "it" spot to relocate. From young professionals to families, even retirees are settling in Tampa constantly. This city has become more diverse and modern over time which has been attracting people of all ages and demographics.

When moving to a new city, understanding how much it will cost to live comfortably is essential before going into it without knowledge. This guide will walk you through all the necessary expenses and prices of necessities in Tampa.

Keep reading to learn more about the cost of living in Tampa, FL.

Tampa Skyline water skyscrapers buildings

Here are the essential factors that go into the cost of living in Tampa.

Overall Cost of Living

This may be a shock, but the overall cost of living in Tampa is a 0 percent difference from the national average. This is rarely the case for large cities that are growing and transforming into popular places for people to relocate to.

The average single adult has an estimated monthly spending of around $1,057, not including housing costs. A family of four will probably spend, on average, $3,746 a month on necessities, not including housing costs.

Tampa may not be any cheaper when it comes to the cost of living compared to the national average, but it is more affordable than many other major cities that citizens are flocking to. A few examples are:

Housing Prices

When moving to a new city, learning about the housing market and how much purchasing a home or rent costs is important. The overall housing prices in Tampa, Florida, are 3 percent lower than the national average. Finding a place as desirable as Tampa that has affordable housing and beautiful neighborhoods is fantastic.

The median home price in Tampa is around $430,000. However, home prices tend to be higher when you want to live near the downtown areas and cheaper on the city's outskirts. Tampa has some affordable single-family homes, but they also have some luxury neighborhoods that are more expensive.

If you aren't looking to purchase a home right away and would like to rent a place, the average rent in Tampa is $1,917 for an apartment of 925 square feet. Most 36 percent of the apartments in Tampa are well over $2,000 a month. These rent prices are also based on the property's location, size, interior, number of bedrooms, amenities, and more.


Similarly to the cost of housing, the utilities in Tampa are also 3 percent lower than the national average. This may be a surprise because Florida utility bills are generally above the national average. On average, utility bills are around 7 percent higher than the national electric bill.

In Tampa, you will spend around $172 monthly on your utility bills, up to $2,064 annually. This is lower than the Florida average of $211 a month on electricity, $2,532. The national average electric bill is around $2,369 a year.

The average water bill in Tampa, Florida, is roughly $45. It is important to keep in mind that during the summer, your water bills may be higher than usual. This is because of the increased water usage to either water plants, use sprinkler systems, pools, and more.

pool in florida lanai home luxurious


Everything we have discussed has been all priced below the national average. However, the cost of food and groceries is different. The overall grocery costs are 8 percent higher than the national average. 

This is the case because Florida has no state income tax. Without the state getting that extra revenue, it puts the taxes elsewhere, like on the food and gas in Florida. Food tax exists in Florida but not in some other states. This is why food prices tend to be higher in Florida compared to the national average.

Here are some of the most commonly purchased food items at the grocery store and how much they cost in Tampa.

  • Loaf of Bread: $4.19
  • A gallon of Milk: $2.62
  • Carton of Eggs: $2.43
  • Bunch of Bananas: $3.63

Check out this guide on the best restaurants in Tampa to enjoy with your friends and family.


The cost of transportation is no different than the national average. As of yesterday, the average price of a gallon of gas for regular fuel is $3.33. The national average is right there at $3.40 for a gallon of regular fuel. It is essential to keep in mind that gas prices are constantly changing. The gas costs today may not be the same a week from now.

If getting around in your personal car is not your primary way of transportation, Tampa has a public transportation system that can take you around the city. Tampa Bay Area Regional Transportation Authority (TBARTA) has nearly 500 buses, more than 9,000 transit stops, and provides rides to almost 28 million passengers a year.

Check out the TBARTA website to learn more about the bus fare price and the bus routes.


For those who are looking for a city that has affordable healthcare, Tampa is a great place to live for that aspect. Tampa's healthcare cost is 8 percent less than the national average. 

U.S. News & World Report states that Tampa won best hospitals in 2021-2022. You will find some of the most outstanding hospitals in the Tampa, St. Petersburg, and Clearwater areas. They are not only the best in the region but also some of the very best in the state of Florida. Tampa General Hospital is one of the greatest healthcare systems in Tampa and in Florida.

Here are a few prices for typical healthcare visits.

Doctor's Visit $115.17
Dentist Visit $99.36
Optometrist Visit $108.48
Vet Visit $59.92

Source: Payscale

Child Care

The cost of child care in Tampa is among some of the cheaper cities. Child care costs between $130 to $200 a week. This averages about a little less than $7,000 annually (on the cheaper side) for someone to watch your children. 

Child care can be one of the most significant expenses a family has to pay. It is essential to learn about what type of child care programs the city you are living in has and what the pricing options are. Each town has a different price for child care, so be sure to do your research before determining where to settle.


The average salaries in Tampa, Florida, range from $22,000 to $392,000. The median wage in this city is around $80,000 per year. This means that half of the population is earning less than this, and half of the population is earning more. Around 65 percent of residents are making between $53,000 and $137,000.

Your salary differentiates based on which job or industry you are in. Some of the highest-paying jobs in Tampa are General Internal Medicine physicians, Chief Executives, OBGYNs, Judges, Financial Managers, Sales Managers, and more.

The job market in Tampa is super healthy and is growing as we speak. The Tampa metro area led the metro areas in job gains over the last year in professional and business services. When relocating to the area, finding a job in Tampa won't be your most significant stressor.


Taxes calculator finance income tax sales tax

The biggest thing people move to Florida for is the fact that there are no state income taxes. This is great for those who don't like seeing a large chunk of their paycheck go to state taxes every time they get paid. However, as we discussed earlier, you may not see it come out as "state income tax" on your paystub, but you will see increased prices in other areas to make up for it.

Sales taxes in Tampa is around the average of 7.5 percent. This comprises 6 percent Florida state sales tax and 1.5 percent Hillsborough County sales tax. You will see this tax on the goods and services you purchase throughout the city.

Another tax rate to discuss is property taxes. The property tax rate in Tampa, Florida, is 1.97 percent, not counting any exemptions. The property taxes in this city are the highest in the entire county. The national average property tax is 0.99 percent, showing how significantly higher the tax is in Tampa.


What salary do you need to make to live comfortably in Tampa, Florida?

The median household income in Tampa is around $60,000. Hypothetically, if your average rent is around $1,500, you should make around $56,000 a year to be able to afford that and other things comfortably. However, not everyone's definition of "comfortable" is the same. 

Is the cost of living going up in Tampa?

As more and more people are moving into the city, the prices are rising. That is just how the economy goes in any fast-growing city. As of today, the prices in Tampa have gone up about 1 percent since last year. The biggest increases are in transportation, food, and housing costs.

Is it a good idea to move to Tampa, Florida?

Yes, it is overall a great place to live. Residents in Tampa love living in this city and love everything that the city has to offer. You have affordable housing, great warm weather, quick access to the beach, surrounded by other major cities, and more.

Is it cheaper to buy or rent a home in Tampa?

There is no definitive answer to this question. Depending on where you are moving to, it may be cheaper to buy, or it may be cheaper to rent. It would be best if you did your research or spoke with a local real estate agent.

Florida home palm tree nice home neighborhood

Pros and Cons of Living in Tampa


  • Great weather
  • The average cost of living
  • Affordable housing
  • No income state tax
  • Average gas prices
  • Cheap child care
  • Excellent hospitals and healthcare prices


  • The cost of food is expensive
  • High property tax rates
  • Not the cheapest place to purchase a home compared to other cities
  • Busy roads cause traffic

Cost of Living in Tampa - Our Last Words

As you read through this guide, we hope it helped you better understand how much living comfortably in Tampa, Florida costs. As you can tell, this city has many more promising aspects than bad ones. This city is an excellent place for young professionals, families, and retirees to live in.

However, if you are looking for a place with a lower cost of living compared to the national average, Tampa is the place. When looking at all the factors, the cost of living in Tampa is the same as the national average. That national average may be too expensive for some to live comfortably in this city.

If you are considering relocating to Tampa, Florida, you can contact us today to get connected with a local real estate professional. They are there for guidance and questions you may have about the real estate market in Tampa, Florida.

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Ryan Fitzgerald

Ryan Fitzgerald

Hi there! My name is Ryan Fitzgerald, and I am a REALTOR®. My goal is to help you learn more about real estate through our Real Estate Blog! Hopefully, you enjoyed the above blog post and it found a way to provide help or value to you. When you're ready to buy or sell a home of your own let us know here. Please feel free to join the conversation by dropping us a comment below.