Tampa is one of the most expensive cities to rent in.
For an average renter in Tampa, about 24% of their income goes toward rent.
A new analysis by Clever Real Estate finds Tampa residents are typically spending over $1,200 a month on rent, which is a 40% increase from 2009 when renters paid $876 a month on average.
Jaime Seale, who is a reports writer for Clever Real Estate, said inflation and population growth are some of the factors that have contributed to this spike for Tampa and other cities observed in the study.
An analysis by the U.S. Census Bureau this year found Hillsborough County has gained close to 29,000 residents between 2020 and 2022, making it one of the fastest-growing counties in the country.
The study by Clever Real Estate says a “healthy” rent-to-income ratio is 30% or less. Even though Tampa falls under that threshold now, Seale said it may not stay that way.
“Unfortunately, the rent-to-income ratio is increasing in like 46 of the 50 most-populous metros,” Seale said.
Three Florida cities made the list of the ten most-expensive U.S. cities to live in. Miami ranks at No. 1, Orlando at No. 3 and Tampa at No. 6.