Is it cheaper to buy or rent in Tampa?

It is cheaper to rent in Tampa Bay unless you are expecting to stay for years. It takes on average about 5 years for most homes to become a good investment. There are exceptions in this market for the more informed buyer but 5-7 years is the best guide nationally.

Tampa FL

The Tampa Bay Area & Tampa FL

Keep in mind that Tampa FL is just a small part of the Tampa Bay area. Clearwater Beach and St Petersburg are two other large cities within Tampa Bay. The overall home prices are still similar to the national average. The average rent and monthly mortgage payments are only slightly higher in Tampa than the national average.

The Median Home Price-Monthly Costs

The median priced home in Tampa FL is just over $400,000. It is slightly more expensive here for homeowners insurance and property taxes which affect your monthly payments. Home prices once you get north of Downtown Tampa actually go down considerably and so do the rental rates. With our highway system being as good as it is many consider north Tampa Bay an affordable option.