Home to nearly 400,000 residents, and more than 3 million in the entire Tampa Bay Area, Tampa is one of the most populous cities in the southeast. With all the amenities of a major metropolitan city and the proximity to beaches and world-renowned theme parks, it's no wonder that the Tampa Bay Area has grown by approximately 10.5 percent in the past 10 years.
And the good news for renters? The average rent in Tampa hasn't grown at the same rate.
Tampa is known for being one of Florida's more affordable cities with a booming job market. There are plenty of inexpensive and high-end neighborhoods to choose from, and the average rent in Tampa is $1,348 for a one-bedroom apartment.
This is approximately 10.25 percent less than this time last year. Average rent prices are significantly below the national average of $1,598 for a one-bedroom apartment.
The best way to live comfortably in Tampa is to make sure you have enough money to pay rent and have enough left over to cover your expenses. The general rule to live by is to spend no more than 30 percent (pre-tax) of your yearly income on rent.
With average one-bedroom rental prices being $1,348, you'll need to make at least $53,920 per year to live comfortably in Tampa. Currently, the average Tampa salary is $65,000 per year, which might give you the freedom to spend a bit more on rent or have a little money left over to spend or save each month.
With a wide range of rentals available in Tampa, you'll most likely find one that meets your needs and your budget. To determine exactly how much you can afford in rent, access our rent calculator.
Once you've determined the amount you can afford to pay each month in rent, you also need to think about other expenses that impact the overall cost of living in Tampa. One of the best ways to do this is to determine how much certain items cost in Tampa compared with the rest of the nation. These figures help analysts come up with a cost-of-living index. Tampa has a cost-of-living index of 96.6 percent, a full 3.4 percent lower than the national average.
Some factors that impact the cost-of-living index include housing, transportation, groceries, healthcare, utilities and miscellaneous goods and services. Here's how Tampa stacks up against other U.S. cities in these categories.
Although the cost of transportation and groceries are higher than the national average, these costs are offset by low housing, utility and healthcare costs. This makes Tampa an affordable place to live.
By arming yourself with the information above, you'll be able to come up with a clear picture of what exactly it will cost to live comfortably in Tampa. You can then take your budget and start looking for rentals that fit within your price point.
Tampa has several distinct neighborhoods that each have their unique draw. There are pockets of expensive areas throughout the city, though most of them are on the north, south and western-outskirts of downtown Tampa. The least expensive areas tend to be clustered downtown and on the eastern outskirts of the city.
Within the expensive northern neighborhoods, you'll find Old Seminole Heights and Northeast Tampa. The other popular, and therefore costly, area to move to is in South Tampa. Some of the most exclusive neighborhoods include Hyde Park North, Uptown Tampa, Channel District, Harbour Island, Southeast Tampa, North Hyde Park and Sun Bay South.
The least expensive neighborhoods tend to be close to downtown and due-east of downtown, although you can find affordable housing pockets throughout the city. Some of the most popular inexpensive areas are University Square, Tampa Heights and New Tampa.
One of the most expensive neighborhoods in Tampa is Hyde Park North. Situated along Bayshore Boulevard, this historic area was Tampa's first western neighborhood. It's home to plenty of dining, entertainment and shopping options and has several of the city's nighttime hotspots.
Another highly-coveted area of Tampa is the Channel District. This exclusive neighborhood boasts some of the city's highest rent prices, but it also delivers some of the city's best views. This area features a large entertainment complex, is close to downtown's business district and has good schools. The Florida Aquarium, Sparkman Wharf and Tampa Bay History Center are all located within the Channel District Area.
Located due east of the Channel District, Uptown Tampa shares many of the same amenities. Its views feature the Hillsborough River instead of the Channel District's Ybor Channel. Uptown Tampa also encompasses the North Franklin Street Historic District and includes the Curtis Hixon Waterfront Park.
If you're looking for a high-end apartment north of downtown, you may consider Old Seminole Heights. This up-and-coming area is family-friendly, has easy-access to ZooTampa at Lowry Park and is known for its charming architecture.
| Rank | Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|---|
| 1 | Hyde Park North | $2,207 | -3.37% |
| 2 | Harbour Island | $2,158 | 3.21% |
| 3 | Southeast Tampa | $2,158 | 3.21% |
| 4 | Channel District | $2,096 | 6.94% |
| 5 | Uptown Tampa | $1,956 | -0.39% |
| 6 | Northeast Tampa | $1,929 | -0.90% |
| 7 | West Riverfront | $1,778 | 3.68% |
| 8 | North Hyde Park | $1,647 | -1.36% |
| 9 | Southwest Tampa | $1,625 | -4.99% |
| 10 | Sun Bay South | $1,593 | -5.04% |
Some of Tampa's least-expensive neighborhoods are near the University of South Florida and east of downtown. While these neighborhoods may not have the best views in the city or the quickest access to St. Petersburg's beaches, they still offer great value to residents.
University Square is one of Tampa's least-expensive neighborhoods, with average rent prices coming in at less than $1,000 per month for a one-bedroom apartment. This neighborhood has a college-town vibe but is also close to several popular Tampa attractions. Busch Gardens Tampa Bay and the Museum of Science and Industry are within the University Square district. In addition, this neighborhood is home to some of the city's leading hospitals and research centers, including Moffitt Cancer Center, Shriners Hospital Orthopedic and Johns Hopkins Children's Center.
If you're looking for something more centrally located, consider downtown Tampa Heights. This neighborhood is located right next to historic Ybor City and is known as one of Tampa's up-and-coming neighborhoods. One of the most popular attractions in the area is the Waterworks Park, a large riverfront park complete with a picnic area, playground and children's splash pad. Another popular spot in Tampa Heights is the Heights Public Market, which houses several independent food vendors and stalls.
With some of the highest number of rentals available, Northwest Tampa is another budget-friendly option. This large Tampa district has easy access to downtown, is close to the Tampa International Airport and has average one-bedroom rental prices under $1,200 per month.
Suppose you prefer something a bit further out. In that case, New Tampa offers below-average rental prices and excellent access to parks, a family-friendly atmosphere and all the amenities a big city has to offer.
| Rank | Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|---|
| 1 | North Tampa | $809 | N/A |
| 2 | University Square | $875 | N/A |
| 3 | Al Lopez Park* | $929 | -2.35% |
| 4 | Plaza Terrace | $942 | -7.76% |
| 5 | Wellswood | $992 | -13.59% |
| 6 | Tampa Heights | $1,030 | -23.58% |
| 7 | Temple Crest | $1,042 | 1.90% |
| 8 | 40th Street Corridor | $1,043 | -3.39% |
| 9 | Northwest Tampa | $1,137 | -25.07% |
| 10 | Fairoaks Manhattan Manor | $1,162 | 0.87% |
Needless to say, Tampa has a wide range of rental prices. You can rent a one-bedroom apartment for as little as $809 in North Tampa or as much as $2,207 in Hyde Park North.
If you're looking to relocate to Tampa, there's certainly something to fit every budget. See how other Tampa neighborhoods compare to these prices.
| Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|
| 40th Street Corridor | $1,043 | -3.39% |
| Academy of the Holy Names* | $1,259 | 17.38% |
| Al Lopez Park* | $929 | -2.35% |
| Channel District | $2,096 | 6.94% |
| Fairoaks Manhattan Manor | $1,162 | 0.87% |
| Harbour Island | $2,158 | 3.21% |
| Heritage Isles | $1,330 | N/A |
| Hyde Park North | $2,207 | -3.37% |
| New Tampa | $1,306 | 7.73% |
| North Hyde Park | $1,647 | -1.36% |
| North Tampa | $809 | N/A |
| Northeast Tampa | $1,929 | -0.90% |
| Northwest Tampa | $1,137 | -25.07% |
| Old Seminole Heights | $1,524 | -3.01% |
| Plaza Terrace | $942 | -7.76% |
| South Seminole Heights | $1,348 | -7.06% |
| Southeast Tampa | $2,158 | 3.21% |
| Southwest Tampa | $1,625 | -4.99% |
| Sun Bay South | $1,593 | -5.04% |
| Tampa Heights | $1,030 | -23.58% |
| Temple Crest | $1,042 | 1.90% |
| University Square | $875 | N/A |
| Uptown Tampa | $1,956 | -0.39% |
| Wellswood | $992 | -13.59% |
| West Meadows | $1,379 | -3.71% |
| West Riverfront | $1,778 | 3.68% |
| Westshore Palms* | $1,189 | N/A |
More than 30 million people visited Tampa Bay in 2019. The entire area has hundreds of beaches and parks, easy access to world-renowned amusement parks, a booming economy and everything you could want from a big city. It's easy to see why Tampa continues to increase in popularity each year.
If you're thinking about moving to the Sunshine State, consider Tampa. Check out some of the best Tampa neighborhoods in your price range, and then make your move.
Lindsay Mickles is a freelance writer and web designer who has been living in the Tampa Bay area for the past three years. An avid travel blogger, Lindsay enjoys exploring central Florida's cities and towns every chance she gets. Whether she's searching for the area's best taco truck or discovering the coolest art museums around, Lindsay is determined to experience all that central Florida has to offer.