Uncover the Cost of Living in Tampa, FL

While you can enjoy the best of both worlds here—coastal living and city life—the cost of living in Tampa, FL, is a key factor to consider for anyone planning to buy a home here. From housing prices to healthcare costs, we break down many of the city’s living expenses so you can decide if Tampa is the right fit for you.

Summary:

• Cost of Living in Tampa, FL

• Comparing Average Home Prices and Rent Costs in Tampa

• Other Living Expenses in Tampa, FL

  • Grocery Shopping and Dining Out in Tampa

  • Transportation Options and Fuel Costs in Tampa

  • Healthcare and Insurance Costs in Tampa

  • Utilities, Internet, and Phone Expenses in Tampa

  • Tax Rates in the Tampa Area

  • Recreation Costs in Tampa, FL

• Average Salary in Tampa, FL

• Average Cost of New Construction Homes in Tampa by Neighborhood

• Conclusion

Cost of Living in Tampa, FL

The Tampa cost of living is just 3% lower than the national average, reports Payscale® in October 2024. According to the MIT® Living Wage Calculator, as of February 2024, Tampa's living wage varies significantly depending on household size. For a single adult with no children, the living wage is around $22.70 an hour. Couples without children need to earn approximately $30.64, while a household of four typically requires both adults to make over $25 an hour. These amounts typically cover your basic needs and reflect general living expenses in Tampa, Florida.

Comparing Average Home Prices and Rent Costs in Tampa

Housing costs are a major factor in the price of living in Tampa, Florida. Whether you’re buying or renting, housing costs in Tampa are 4% lower than the national average per Payscale, although areas closer to downtown may have a higher price tag. As of October 2024, the average home price in Tampa is around $440K, according to Realtor.com®, while renters can expect an average monthly rent of $1,900 for a one-bedroom apartment, per RentCafe®. 

Other Living Expenses in Tampa, FL

Beyond housing, daily expenses like groceries, transportation, and medical care influence the average cost of living in Tampa, FL. Here’s a closer look at each of those categories.

Grocery Shopping and Dining Out in Tampa

The cost of food in Tampa is just a tick higher than the national average, with an annual spend of about $4.5K for one adult and $13K for a household of two adults and two children, reports MIT’s Living Wage Calculator as of February 2024. Tampa also offers plenty of options for dining, with meals at mid-range restaurants averaging $20 to $40 per person at popular restaurants like Ulele. Tampa’s food scene includes local seafood, Cuban-inspired dishes, and plenty of Southern comfort food, helping make the city an excellent culinary spot worth exploring.

Transportation Options and Fuel Costs in Tampa

Gas prices fluctuate but generally remain close to the national average at roughly $3.50 per gallon as of October 2024 per AAA®. Additionally, with a reliable public transit system and an extensive road network, Tampa offers multiple transportation options. Public transportation through the Hillsborough Area Regional Transit (HART) includes fare options ranging from $2 per ride to $95 a month. 

Healthcare and Insurance Costs in Tampa

According to Payscale, healthcare costs in Tampa are about 8% higher than the national average, and typical medical expenses in Tampa run about 7% higher than other U.S. cities as of October 2024. Here’s what Payscale estimates you can expect to pay for common medical needs:

• Doctor's visit: $128.94

• Dentist appointment: $106.03

• Optometrist: $118.10

• Prescriptions: $223.86

• Veterinary visit: $62.93

Health insurance premiums vary widely, but the average monthly cost for major medical plans in Florida is around $489 per person, depending on coverage, per ValuePenguin® in October 2024.

Utilities, Internet, and Phone Expenses in Tampa

The average cost of living in Tampa, Florida, per month for utilities is a cool 1% lower than the national average, with a monthly energy bill of just under $200, reports Payscale. Numbeo® finds that internet costs generally range from $30 to $80 monthly, while phone service averages $76 per month, depending on the plan and provider. 

Tax Rates in the Tampa Area

Florida has no state income tax, a big plus for Tampa residents. However, Tampa’s combined state and local sales tax rate is 7.5%, slightly above the national average, per Avalara® as of October 2024. Ownwell® finds that, as of June 2024, property taxes in the area average around 1.23% of a home's assessed value, adding another layer to the average living cost in Tampa, Florida.

Recreation Costs in Tampa, FL

Tampa offers many free or low-cost outdoor activities, including visits to the Tampa Riverwalk and Bayshore Boulevard. However, other Tampa attractions require an admission fee. For example, one adult ticket averages $99 for Busch Gardens, $25 for the Tampa Museum of Art, and $35 for The Florida Aquarium. Be sure to check out our list of fun things to do in Tampa, FL.

Average Salary in Tampa, FL

Average Cost of New Construction Homes in Tampa by Neighborhood

If you’re considering a new home in the Tampa area, several neighborhoods offer a range of styles, price points, and amenities to suit different lifestyles. From community-oriented suburbs to waterfront communities, Tampa's surrounding areas offer homebuyers tons of options. Here’s a breakdown of popular neighborhoods, offering insight into the cost of new construction homes in each spot.

Parrish

Located just north of Tampa, Parrish offers a blend of suburban life and convenient city access. Known for its spacious homes and friendly neighborhoods, Parrish has seen an uptick in development. The cost to build a new home in Parrish typically ranges from the mid $200Ks to the upper $800Ks, according to NewHomeSource® as of November 2024. Our new homes in Oakfield Lakes start in the mid $300Ks.

Lake Alfred

Lake Alfred, a charming suburb with scenic lakes and a small-town atmosphere, attracts buyers seeking value and a laid-back lifestyle. New homes in Lake Alfred, according to NewHomeSource, generally range from the low $200Ks to the upper $400Ks. Our new homes at Lake Alfred Pines start in the lower $300Ks.

Wesley Chapel

Wesley Chapel, also north of Tampa, is known for its rapid growth and modern amenities. The area boasts a variety of shopping centers, restaurants, and recreational facilities, making it a popular choice for homebuyers. New construction homes in Wesley Chapel typically range from the low $300Ks to the upper $800Ks, according to NewHomesSource as of November 2024.

Davenport

Davenport is a growing area with several new developments and is particularly appealing to growing households and retirees. The cost to build a home in Davenport, per NewHomeSource, begins in the upper $200Ks and ranges to the mid $500Ks.

Apollo Beach

Apollo Beach offers a coastal lifestyle with easy access to Tampa's urban center. Known for its waterfront properties and boating community, it's ideal for those seeking a relaxed, outdoorsy style of living. New construction homes in Apollo Beach range from the high $200Ks to the mid $900Ks, per NewHomeSource. 

Conclusion

Tampa offers beach proximity, cultural attractions, and sunny weather, and the cost of living in Tampa, Florida, aligns with other major cities in Florida, from housing costs to dining out. For homebuyers starting a new life chapter, you’ll find the city offers a range of lovely neighborhoods that fit different budgets and lifestyles. You’re sure to find an ideal spot to call home here.

Explore new homes in Tampa, FL, today, or browse more Centex® blogs. 

Written By: Jordan Thomson, Freelance Writer

Last Updated: 4/28/25