Tampa residents enjoy living in paradise without breaking the bank. The Tampa Bay area is the most affordable Top 20 U.S. metro, outranking metros such as Dallas, Miami, Atlanta, and Phoenix. While more than half of the major markets saw an above-average cost of living, Tampa Bay was 5.2 points below the national average at the end of 2017, showing that residents are able to live a higher quality of life without high expenses.
For example, a 2,400 square foot, four-bedroom, two-bathroom costs an average of $222,888 in Tampa, but the national average for the same house rings up at $335,956. Meanwhile, a similar home in our nation’s capital would cost nearly $800,000. Tampa’s affordability is one reason why Zillow ranked Tampa the best market for first-time homebuyers and WalletHub ranked it second.
Renting options in the Tampa Bay area are also more affordable, with the area recently being voted as the seventh best city in the nation for renters. For a 950 square foot, two-bedroom apartment, Tampa’s local average is comparable to the national average of $1,000 a month. More information is available in our Tampa housing section.
Other expenses such as groceries, utilities, and health care also rang in less than the national average. For a visit to the eye doctors, the national average was $102, but in Tampa, the average eye doctor’s office visit cost less than $89. Similar differences in price can be seen in items and services ranging from eggs to dry cleaning.
With below average living expenses, Tampa not only offers residents a higher quality of life and less stress, but it also makes sense.