The most recent cost of living index (COLI) data places the Tampa MSA as one of the most affordable major metro areas in the country. At 91.7, Tampa’s COLI score comes in at nearly nine points below the national average.
The composite score looks at six different categories: grocery items, housing, utilities, transportation, health care, and miscellaneous goods and services. Five of the categories came in below the national average, pushing the Tampa MSA’s composite score to 91.7, half a point lower than where it was last year at this time.
Of the Florida metro areas that participate, the Tampa MSA was the most affordable metro, beating out Miami (114.3), Orlando (94.5), and Jacksonville (94.2). On a national scale, Tampa was still the most affordable metro among comparable markets, such as Charlotte (95.6), Nashville (96.3), Atlanta (99.3), and Denver (112.1).
Here’s how the Tampa MSA compares to the Nashville metro when it comes to the average price of popular groceries, goods and services:
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“The latest cost of living figures confirm that despite tremendous job and population growth, Tampa remains one of the most affordable major markets in America,” said Craig J. Richard, CEcD, president and CEO of the Tampa Hillsborough EDC. “This is great news for everyone but especially for young, talented people looking to build their careers in a place where they can afford a home and a great quality of life.”