Mortgage payment estimates, closing cost breakdowns, and homebuying data for Tampa, Florida.
Median Home Price
$395K
Population
385K
Avg Monthly Rent
$1,750
Property Tax Rate
0.86% *
* Property tax shown is the Florida state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Tampa.
Tampa vs Florida Median
The median home price in Tampa is $395,000, which is roughly in line with the Florida state median of $395,000.
Mortgage Calculator — Tampa, FL
Pre-filled with Tampa median home price and Florida tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $395K home using Florida's 0.86% tax rate and $4,200/yr insurance.
5% Down
$3,224/mo
Down: $19,750
Loan: $375K
P&I: $2,372
Tax: $283
Insurance: $350
PMI: $219
10% Down
$3,087/mo
Down: $39,500
Loan: $356K
P&I: $2,247
Tax: $283
Insurance: $350
PMI: $207
20% Down (No PMI)
$2,630/mo
Down: $79,000
Loan: $316K
P&I: $1,997
Tax: $283
Insurance: $350
Income needed (28% rule): $113K/year with 20% down, $132K/year with 10% down.
Rent vs Buy in Tampa
Rent
$1,750/mo
vs
Buy (10% down)
$3,087/mo
Price-to-rent ratio: 18.8 — A ratio between 15-20 means the rent vs buy decision in Tampa depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Tampa is $395,000, roughly in line with the Florida state median of $395,000. With a population of 384,959, Tampa is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in Florida average 0.86% annually. This moderate property tax rate means a $395,000 home in Tampa would carry roughly $283/month in property taxes. Homeowners insurance in Florida runs approximately $4,200 per year. Insurance costs are notably high — factor this into your monthly budget.
Average rent in Tampa is $1,750/month. The price-to-rent ratio in Tampa is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Tampa presents moderate affordability. The $395K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Tampa.