House Affordability in Tampa
Median home price: $380K · Property tax: 0.89% · Insurance: $3,800/yr
You can afford a home up to
$199,535
That's a 2-bedroom condo/townhome in Tampa
Based on your $75,000 income with 20% down
Your $199,535 budget buys
Monthly payment breakdown
$1,750/mo
Home price
$199,535
Down payment
$39,907
Loan amount
$159,628
No PMI
Waived (20%+ down)
Estimates based on the 28/36 DTI guideline with Tampa-specific property tax and insurance rates. Actual mortgage approval depends on credit score, employment history, and lender criteria.
Tampa Housing Market Overview
Tampa offers no state income tax and more affordable homes than Miami, though hurricane-driven insurance costs remain a significant factor.
The median home price in Tampa is $380,000, which is 8% below the national median of $412,000. Property taxes average 0.89% of assessed value, adding $282/month to housing costs.
Homeowners insurance averages $3,800/year ($317/month). Condos and townhomes typically carry HOA fees around $250/month.
What can you buy in Tampa?
Typical price ranges by property type in Tampa, FL (2024/2025 estimates).
| Property type | Price range | Down payment (20%) |
|---|---|---|
| 2-bedroom condo/townhome | $180K – $300K | $36K – $60K |
| 3-bedroom home | $280K – $420K | $56K – $84K |
| 4-bedroom home | $380K – $580K | $76K – $116K |
| 5+ bedroom home | $520K – $800K | $104K – $160K |
Sources: Zillow, Redfin, Realtor.com (2024/2025 estimates). Prices vary by neighborhood.
Income needed to buy in Tampa
Minimum annual income to afford each property type at 28% DTI, 20% down, 6.75% rate.
| Property type | Midpoint price | Income needed |
|---|---|---|
| 2-bedroom condo/townhome | $240K | $74,570/yr |
| 3-bedroom home | $350K | $102,528/yr |
| 4-bedroom home | $480K | $135,569/yr |
| 5+ bedroom home | $660K | $181,318/yr |
Green = achievable at Tampa's median household income of $65,000.
Cost of living context
The median household income in Tampa is $65,000, which is 13% below the national median of $75,000.
At the median income, a household can afford roughly $202K using the 28% DTI rule — which falls short of the $380K median. Many buyers need dual incomes, a larger down payment, or lower price points.
FAQ
Can I afford a house in Tampa on a $100,000 salary?
At $100K with 20% down and 6.75% interest, you can afford roughly $340K in Tampa using the 28% DTI rule. The median home price is $380K, so you may need to look at lower price points or increase your down payment.
What income do I need to buy a house in Tampa?
To afford the median price of $380K with 20% down at 6.75%, you need approximately $110,153/year (28% DTI). The median household income in Tampa is $65,000, which is below what is needed.
What are property taxes like in Tampa?
The average property tax rate is 0.89%, or $3,382/year on a median-priced home. This is near the national average of 1.2%.
What does a 4-bedroom home cost in Tampa?
A typical 4-bedroom home costs between $380K and $580K, with the midpoint around $480K.
Is Tampa affordable compared to other cities?
Tampa's median price of $380K is 8% below the national median of $412K. Median household income is $65,000, 13% below the national median.
Other cities
- Miami, FL — median $590K
- San Francisco, CA — median $1.35M
- New York City, NY — median $780K
- Los Angeles, CA — median $950K
Related tools
- Florida House Affordability — statewide data
- Florida Paycheck Calculator — calculate your take-home pay
- House Affordability Calculator — compare all cities
- Compare Job Offers — factor in housing costs