CALCMONEY // HOME AFFORDABILITY // FL // TAMPA
How much house can you afford in Tampa? Based on local median home prices, current FL mortgage rates, and Tampa property tax data.
$390,000
$2,526/mo
$108,261/yr
$185,131
Monthly housing costs of $2,526 represent 48.9% of Tampa's median gross monthly income ($5,167/mo). At 48.9%, median-income buyers in Tampa are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $390,000 |
| Down Payment (20%) | $78,000 |
| Loan Amount | $312,000 |
| Monthly PI Payment | $2,055 |
| Monthly Property Tax | $309 |
| Monthly Insurance Est. | $163 |
| Total Monthly PITI | $2,526 |
| Housing Cost % of Income | 48.9% |
| Required Income (28% rule) | $108,261/yr |
| Max Affordable Home | $185,131 |
$13,650
$3,216/mo
Tampa Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $390,000 | Tampa city median |
| Down Payment (20%) | $78,000 | Conventional loan |
| Monthly PITI | $2,526 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $108,261 | Annual gross |
| Max Affordable Home | $185,131 | Based on median income |
| FHA Down (3.5%) | $13,650 | Minimum FHA |
| Housing Cost % of Income | 48.9% | Median income: $62,000/yr |
| Property Tax Rate | 0.95% | $3,705/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Tampa is $390,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $312,000, generating a monthly P&I payment of $2,055. Adding property taxes ($309/mo) and homeowners insurance ($163/mo) brings total monthly PITI to $2,526.
Tampa's property tax rate of 0.95% is near the national average, adding a standard increment to monthly housing costs. On the Tampa median home, that is $309/month, or $3,705 per year.
Florida has no state income tax, improving effective take-home pay for Tampa residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Tampa's median income of $62,000/year can afford up to $1,447/month in total housing costs. Based on Tampa's mortgage rate of 6.9% and property tax rate of 0.95%, that translates to a maximum affordable home price of approximately $185,131 with 20% down on a 30-year loan.
To afford the median Tampa home priced at $390,000, you need an annual gross income of approximately $108,261. Total monthly housing costs (principal and interest of $2,055, property taxes of $309, and insurance of $163) come to $2,526/month, which equals 28% of the required income.
At the median home price of $390,000 and median household income of $62,000, the total monthly housing cost of $2,526 represents 48.9% of gross monthly income. This is well above the standard 28% threshold, making Tampa a challenging market for buyers at median income.
A conventional 20% down payment on the median Tampa home of $390,000 is $78,000. An FHA loan requires just 3.5% down — $13,650 — but adds mortgage insurance of roughly $267/month, bringing total FHA payments to $3,216/month.
Miami
$600,000 median
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$380,000 median
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$310,000 median
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$530,000 median