Cost of living in Tampa

Before committing to relocate to a new place, it’s important for prospective residents to consider the cost of living. Those considering a move to Cigar City will be pleased to learn that the cost of living in Tampa is slightly lower than the US national average, although it is a fraction higher than the Florida state average. Naturally, an individual’s personal living expenses come into play too, making budgeting a little more complicated.

Those weighing up a move to Tampa must consider several factors when drawing up a budget. These include the cost of accommodation, transport options, healthcare expenses, lifestyle choices and, if they have children, the price of schooling. This should all be compared alongside one’s earning potential as well as the expenses of physically relocating, which in itself can be a costly exercise.

Here is our breakdown of the cost of living in Tampa.

Cost of accommodation in Tampa

Newcomers to Tampa generally start by renting until they find their feet and decide whether they want to settle down long-term in the Sunshine State. Tampa’s rental market is fairly solid, so investing in a property at some stage makes sense.

In general, though, housing prices are more affordable in Tampa than in Florida and the US as a whole. Furthermore, the standard of housing in Tampa is excellent, so new arrivals will likely find good value for money regardless of whether they decide to rent or buy. Newcomers must account for utilities like water, electricity, gas, and WiFi, as these are not typically included in the monthly rental fee.

Cost of transport in Tampa

Newcomers to Tampa will find that public transport fares are affordable. But while public transport is a viable option for those living close to the city centre, it isn’t quite as convenient as having a car at one’s disposal. For this reason, most Tampa residents opt to invest in a vehicle of their own.

As is the case throughout Florida, cars in Tampa are reasonably priced. In fact, used vehicles in the Sunshine State cost around 10 percent less than in the rest of the US. That said, maintaining a car won’t come cheap in Tampa. Petrol (gas) prices are expensive and, with most residents driving long distances regularly, this cost quickly adds up.

Cost of groceries in Tampa

The cost of groceries in Tampa is slightly above the national average, which can significantly impact residents’ monthly budgets. However, several strategies can mitigate these costs. Budgeting and planning, taking advantage of sales and bulk buying, opting for store brands, using coupons and rebates, exploiting BOGO deals, and participating in loyalty programmes are all effective ways to save on groceries.

Tampa residents have the advantage of choosing from a variety of grocery delivery services, such as Daisy Bug Delivery, Boxer Mom Delivery, and Kroger Delivery, to name a few. These services offer convenience and can sometimes provide savings through exclusive deals and promotions.

Cost of entertainment and eating out in Tampa

Lifestyle expenses really do depend on an individual’s taste, preferences, and financial priorities. Tampa’s residents can decide to splurge or save, depending on where they go for fun and what they do. For those looking to splash some cash, it’s possible to eat out at fine dining establishments or hang out at fancy cocktail bars.

On the other hand, plenty of activities cost little to nothing. Entrance to most of Tampa’s museums and art galleries is reasonable, and students and pensioners are often offered discounts.

Cost of education in Tampa

As is the case in most US cities, the cost of education in Tampa depends on the schooling path parents choose for their children. Tampa offers newcomers a broad range of public and private school options.

The cost of public schooling in Tampa is minimal, whereas private institutions set their own fees. These fees are generally high and increase as the students get older. In addition, those considering private schooling for their kids must budget for additional expenses such as uniforms, textbooks, field trips, and extracurricular pursuits.

Cost of healthcare in Tampa

There are several excellent healthcare facilities in Tampa. The cost of healthcare here is almost on par with the state average, and accessing the best facilities won’t come cheap – this will be especially noticeable to those relocating from countries with free or heavily subsidised public healthcare.

Foreigners and newcomers relocating from elsewhere in the US should research Florida’s health insurance schemes. There are plenty of competitive insurance packages available, but it’ll be up to the individual to find a policy that not only meets their own health needs and those of their family members. It should also realistically fit into their monthly budget.

Anyone moving to Tampa for work should attempt to negotiate a health contribution into their employment contract, which allows for a significant monthly saving.