What is a livable wage in Tampa FL?

This might surprise you but the answer is around $60,000 per individual. That is the average wage her in this city and to be truthful a household will usually need two wage earners if you plan on living in the better parts of the city. I base that on several factors including the average rent, average power bills and cost of food etc.

Tampa FL

The Federal Minimum Wage

Thankfully the federal minimum wage is not paid here. In Florida the state minimum wage is actually several dollars an hour higher and scheduled to go up every year for the next few years. I do not need a living wage calculator to tell me that the federal minimum wage will not pay the average housing costs, power bill, cable bill, car payment, childcare costs and insurance. Minimum wages are tough, but most are on their way to soon earning a living wage or higher.

Tampa Bay

Working Adults Basic Needs

It will likely take two working adults to provide a family's basic needs. A family of four will be even more challenging. Another great perk of Florida is the after tax income is slightly higher because we have no state income taxes. No matter what your family composition plan on needing at least $100,000 per year to afford housing costs and living the average life here in Tampa unless you live in the northern portion where it can be slightly less expensive of in Brandon FL.