Total monthly cost of ownership
Cost to Own a Home in Tampa, Florida
A $375,000 home here costs
$2,907per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,928. The real number is $979 higher every month — 51% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Tampa against Hillsborough County and Florida
| Measure | Tampa | Hillsborough County |
|---|---|---|
| Median home value | $375,300 | $333,300 |
| Median property tax | $2,832 | $2,787 |
| Effective tax rate | 0.755% | 0.836% |
| Median gross rent | $1,567 | $1,543 |
| Population | 393,389 | 1,489,634 |
The weather behind that power bill
Tampa sits in Hillsborough County, which averages a high of 91.2°F in its hottest month and a low of 52.8°F in its coldest, with 49.48" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 3,928 cooling and 433 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Hillsborough County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hillsborough County
Full Hillsborough County cost breakdown · Every county in Florida
Common questions
How much does it cost to own a home in Tampa?
A $375,000 home in Tampa, Florida costs approximately $2,907 per month with 20% down at 6.66%. That is $1,928 principal and interest, $236 property tax, $227 homeowners insurance, $204 utilities and $313 set aside for maintenance.
What is the property tax rate in Tampa?
Tampa has an effective property tax rate of 0.755%, based on a median home value of $375,300 and median real estate taxes of $2,832. That is lower than the Hillsborough County average of 0.836%.
What is the average home price in Tampa?
The median owner-occupied home value in Tampa, Florida is $375,300, against $333,300 across Hillsborough County.
Is it cheaper to rent or buy in Tampa?
Median gross rent in Tampa is $1,567 a month, against $2,907 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Tampa — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Florida.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.