Monthly housing costs in Tampa
| Cost | Monthly | Basis |
|---|---|---|
| Typical rent | $1,957 | Zillow Observed Rent Index, August 2026 |
| Mortgage, 10% down | $2,268 | Principal and interest on $339,800, 30 years at 7.03% |
| Mortgage, 20% down | $2,016 | Principal and interest on $302,100, 30 years at 7.03% |
Typical home value $377,600 (Zillow, August 2026). Rate: Freddie Mac 30-year average, week of September 24, 2026. Taxes, insurance and HOA/CDD fees are extra and covered below.
How expensive is Tampa?
Tampa costs a little more than Florida as a whole and less than the US on some everyday bills. The clearest comparisons:
- Living wage: MIT's Hillsborough County figure for one adult is $51,346 a year before tax, against $50,117 for Florida. MIT's housing cost for that household is $19,982 a year in Hillsborough and $18,245 statewide, 9.5% higher.
- Electricity: Tampa Electric's residential rate works out to 15.64 cents per kWh. The US Energy Information Administration's July 2026 average was 15.03 cents for Florida and 18.31 cents for the US.
- Gas: AAA's average for regular in the Tampa-St. Petersburg-Clearwater metro was $4.466 a gallon on September 25, 2026, against $4.423 for Florida and $4.492 nationally.
- Income tax: none at state level, which offsets part of the higher housing cost for many households.
Housing is where Tampa diverges most, and it varies widely by area. The Tampa ZIP code guide shows typical values from $262,404 to over $1 million.
Housing costs in Tampa
Buying a home
Zillow's typical home value in Tampa was $377,566 in August 2026, down 0.3% over the year and up 21.4% over five years. The table above shows principal and interest at 10% and 20% down using Freddie Mac's 7.03% average rate; at 10% down that is about $2,268 a month. Add property tax, insurance and any HOA or CDD fee before comparing with rent. The Tampa housing market page tracks prices.
Renting
Zillow's typical rent was $1,957 in August 2026, down 0.8% over the year. Ask what is included, since water, trash, parking, pest control and amenity fees vary between buildings, and whether the lease allows a renewal increase cap.
Property tax
The 2025 millage inside the City of Tampa was 19.8428, against 18.2515 in unincorporated Hillsborough County, according to the Hillsborough County Property Appraiser. On a $377,566 home that works out to roughly $6,649 a year with the homestead exemption and $7,492 without, or about $554 and $624 a month, before non-ad valorem fees such as solid waste or stormwater. The assessed value resets on sale, so do not budget from the seller's bill. The Hillsborough County property tax guide walks through the calculation.
Homeowners and flood insurance
Premiums depend on the home's age, roof, construction and location, so get quotes on the actual address during your inspection period. FEMA's FloodSmart notes that most homeowners policies do not cover flood. Inside city limits, Tampa's Class 5 Community Rating System status cuts NFIP premiums by 25% in flood zones and 10% outside them. Florida sellers must also give buyers a written flood disclosure. See the Tampa flood zone guide.
HOA fees and CDD assessments
Some Tampa homes have no association, while newer planned communities often carry both an HOA fee and a community development district (CDD) assessment on the tax bill. Condo fees are rising under Florida's milestone inspection and reserve study rules. Ask for the current fee, any special assessments and the parcel's latest tax bill. The Tampa condo guide and new construction guide cover what to check.
Everyday costs in Tampa
Electricity
Tampa Electric (TECO) serves Hillsborough County and parts of Pasco, Pinellas and Polk. Its residential customers pay $156.43 per 1,000 kWh, or 15.64 cents per kWh, after a temporary storm recovery charge ended in August 2026 and cut bills by $19.95 per 1,000 kWh. TECO has asked regulators to lower that to $154.13 from January 2027. Summer air conditioning pushes usage up, so ask for 12 months of bills.
Water, wastewater and irrigation
City of Tampa rates reset every October 1. From October 1, 2026, a single-family home inside the city pays a $9.00 monthly base charge for water and $9.00 for wastewater, plus $3.59 per ccf of water for the first 5 ccf, $4.18 per ccf from 6 to 13 ccf and $5.96 per ccf of wastewater. One ccf is 748 gallons. A home using 6 ccf in a month would pay about $75.89. Homes served by the city outside its limits pay more, and reclaimed irrigation water is $1.20 per ccf where available.
Groceries and food
MIT budgets $4,533 a year for food for one adult in Hillsborough County, a little below its $4,614 Florida figure, and $13,267 for two adults with two children. That covers groceries at a low-cost plan, not eating out.
Transportation and gas
MIT budgets $7,966 a year in transportation for one adult, mostly car costs. Regular gas averaged $4.466 a gallon in the Tampa metro on September 25, 2026, up from $3.046 a year earlier, according to AAA. HART buses cost $2.00 a trip with caps of $4.00 a day and $65.00 a month, and the TECO Line Streetcar is fare free.
Healthcare
MIT's estimate for medical costs, including premiums and out-of-pocket spending, is $2,994 a year for one adult and $10,497 for two adults with two children in Hillsborough County. Your own costs depend on your employer plan or marketplace coverage.
Childcare
MIT puts childcare at $11,352 a year for one child and $21,809 for two in Hillsborough County, higher than its Florida figures of $10,747 and $20,656. Ask providers about waitlists and registration fees as well as weekly rates.
Internet and phone
MIT budgets $1,562 a year for internet and mobile service for one adult, or about $130 a month, and $2,136 for a two-adult household. Check which providers serve the exact address before you sign a lease or contract.
Taxes in Tampa
Sales tax: 7.5%
The Florida Department of Revenue sets Hillsborough County's combined rate at 7.5%: the 6% state tax plus 0.5% school capital outlay, 0.5% indigent care and 0.5% local government infrastructure surtaxes. Two of the surtaxes were suspended for the first five months of 2025 and resumed on June 1, 2025. The infrastructure surtax has been extended to December 31, 2041.
No state income tax
Florida does not tax personal income, so wages, Social Security and retirement income are taxed only at the federal level. Compared with a state that has an income tax, that can offset a meaningful share of Tampa's housing costs.
Property tax and early payment
Property tax is the main local tax for owners. File for homestead with the Hillsborough County Property Appraiser by March 1 if the home is your primary residence. Bills are due from November, with discounts of 4% in November, 3% in December, 2% in January and 1% in February. See Hillsborough County property tax.
Salary needed to live in Tampa
MIT's Living Wage Calculator shows the pre-tax income a household needs for basic costs in Hillsborough County, with no allowance for savings, debt or eating out (updated February 15, 2026):
| Household | Annual income needed before tax | Hourly, per working adult |
|---|---|---|
| 1 adult, no children | $51,346 | $24.69 |
| 1 adult, 1 child | $84,294 | $40.53 |
| 1 adult, 2 children | $105,721 | $50.83 |
| 2 adults (1 working), no children | $67,752 | $32.57 |
| 2 adults (both working), no children | $67,752 | $16.29 |
| 2 adults (both working), 1 child | $95,187 | $22.88 |
| 2 adults (both working), 2 children | $113,340 | $27.25 |
Florida's minimum wage is $14.00 an hour and rises to $15.00 on September 30, 2026, which is about $31,200 a year full time, well below the single-adult living wage.
What housing takes at common incomes, using Zillow's typical rent and principal and interest on the typical home with 10% down:
| Gross income | Typical rent ($1,957) as share of income | Typical P&I ($2,268) as share of income |
|---|---|---|
| $50,000 | 47.0% | 54.4% |
| $70,000 | 33.5% | 38.9% |
| $90,000 | 26.1% | 30.2% |
| $120,000 | 19.6% | 22.7% |
On a 30% guideline, renting the typical home takes about $78,280 a year, and buying takes about $112,880 once estimated homesteaded property tax is added, before insurance. Is $70,000 enough? For one adult, yes to rent, though above the 30% line; buying the typical home is a stretch.
Tampa vs nearby cities
Zillow's August 2026 figures put Tampa in the middle of the region. Polk County cities are lower on both value and rent, while Sarasota is higher. Remember that property tax, insurance and HOA or CDD costs differ by community, so compare the total monthly cost.
| City | Typical home value (Aug 2026) | 1-year change | Typical rent | Rent 1-year change |
|---|---|---|---|---|
| Tampa | $377,566 | -0.3% | $1,957 | -0.8% |
| Plant City | $340,391 | -1.2% | $1,803 | -0.6% |
| Lakeland | $309,954 | -1.3% | $1,722 | +1.7% |
| Orlando | $371,120 | -1.4% | $1,896 | +0.6% |
| Sarasota | $409,878 | -2.7% | $2,175 | -0.2% |
Plant City is in Hillsborough County too and paid 18.2926 mills in 2025, against 19.8428 in Tampa, so the same value costs less in tax there. See the cost of living in Plant City and the pros and cons of living in Tampa.
Ways to lower your costs in Tampa
File for homestead
If the home is your permanent residence on January 1, file by March 1. The exemption can cut up to about $50,000 from assessed value and caps future increases at 3% or the CPI change, whichever is lower.
Get a wind mitigation report
Florida law requires insurers to offer discounts for features that reduce wind damage, such as roof strength, roof-to-wall connections and opening protection. Ask the seller for a recent report or order one, then send it to your insurer.
Apply to My Safe Florida Home
The state program offers free wind mitigation inspections and grants of up to $10,000 for approved upgrades. Funding depends on the Legislature, so check eligibility and status on the program's site.
Use the flood insurance discount and buy early
City of Tampa addresses get the Class 5 CRS discount on NFIP policies. If an area is being remapped into a higher-risk zone, buying a policy before the change can limit future increases.
Pay property tax in November
Paying the full bill in November saves 4%. On the estimated $6,649 homesteaded bill above, that is about $266.
Common questions
How much does it cost to live in Tampa?+
MIT estimates one adult with no children needs $51,346 a year before tax to cover basic costs in Hillsborough County, and two working adults with two children need $113,340. Zillow's typical rent was $1,957 a month and the typical home value $377,566 in August 2026. Insurance, property tax and HOA fees vary most between homes.
How much does it cost to live comfortably in Tampa?+
On a 30% housing guideline, about $78,280 a year to rent at Zillow's typical $1,957, or around $112,880 to buy the typical $377,566 home with 10% down at 7.03% once estimated homesteaded property tax is included. Insurance, savings and other goals come on top.
Is Tampa more expensive than Orlando?+
They are close. In August 2026 Zillow's typical home value was $377,566 in Tampa and $371,120 in Orlando, and typical rent was $1,957 and $1,896. Insurance, property tax and HOA costs vary more between individual homes than between the two cities, so compare quotes for specific properties.
How much is the electric bill in Tampa?+
Tampa Electric states that residential customers pay $156.43 per 1,000 kWh, or 15.64 cents per kWh, after a storm recovery charge ended in August 2026. TECO has asked to lower that to $154.13 from January 2027. Your bill depends on usage, which rises with summer air conditioning, so ask for 12 months of actual bills.
What is the sales tax in Tampa?+
The combined sales tax rate in Hillsborough County, including Tampa, is 7.5%. That is Florida's 6% state rate plus three 0.5% county surtaxes for schools, indigent care and local infrastructure, according to the Florida Department of Revenue.
Is 70k a good salary in Tampa?+
For one adult it covers MIT's $51,346 living wage with room to spare, and the typical $1,957 rent would take 33.5% of gross income. For one adult with a child, MIT's figure is $84,294, so $70,000 falls short. Buying the typical home with 10% down would take about 38.9% of gross income in principal and interest alone.
How can I lower property taxes on a Tampa home?+
File for the homestead exemption with the Hillsborough County Property Appraiser by March 1 if the home is your permanent residence. It can reduce assessed value by up to about $50,000 and caps future assessment increases at 3% or the CPI change, whichever is lower. Paying the bill in November also earns a 4% discount.
Sources
- Zillow Research: housing data (ZHVI and ZORI), August 2026
- Freddie Mac: Primary Mortgage Market Survey, September 24, 2026
- MIT Living Wage Calculator: Hillsborough County, Florida (updated February 15, 2026)
- MIT Living Wage Calculator: Florida
- Florida Senate: Florida Constitution, Article X, Section 24 (minimum wage)
- Florida Department of Revenue: TIP 25A01-12, Hillsborough County surtax rate update (December 2025)
- Florida Department of Revenue: TIP 25A01-02, resume collecting Hillsborough County surtaxes (March 2025)
- Florida Department of Revenue: Taxes and fees
- Hillsborough County Property Appraiser: 2025 final millage rates
- Hillsborough County Property Appraiser: Homestead and other exemptions
- Florida Department of Revenue: Save Our Homes assessment limitation and portability
- Florida Statutes: s. 197.162, tax discount payment periods
- Tampa Electric: Rates
- Tampa Electric: Service area and reliability
- US Energy Information Administration: Electric Power Monthly, Table 5.6.A (July 2026)
- AAA: Florida gas prices, September 25, 2026
- AAA: National average gas prices, September 25, 2026
- HART: Fares
- FEMA FloodSmart: flood insurance
- Florida Statutes: s. 689.302, flood disclosure
- Florida Statutes: s. 627.0629, windstorm mitigation discounts
- My Safe Florida Home
- City of Tampa: Rates, deposits and fees
- City of Tampa: Residential water and wastewater rate schedule, effective October 1, 2026
- City of Tampa: Flooding
- TECO Line Streetcar
- Florida Senate: Section 718.112, Florida Statutes (structural integrity reserve studies)
- Florida Senate: Section 553.899, Florida Statutes (milestone inspections)