Cost of Living in Hillsborough County, Florida
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Hillsborough County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Hillsborough County ranks #2,828 of 3,144 counties for affordability (bottom 10%)
Data Story
About Cost of Living in Hillsborough County, Florida
Tampa's housing squeeze is real
Hillsborough County residents dedicate 24.7% of income to rent—the highest ratio among these eight counties and notably above Florida's 22.5% state average. Despite a median household income of $75,011 (nearly matching the national average of $74,755), the county's median rent of $1,543 creates significant affordability pressure.
Florida's least affordable county here
Among Florida's 67 counties, Hillsborough ranks among the least affordable, with rent consuming nearly 25% of household income. The median rent of $1,543 towers over Florida's $1,233 median, reflecting Tampa Bay's status as a high-growth urban market.
Hillsborough costs far exceed regional peers
Hillsborough's $1,543 monthly rent nearly doubles Highlands County ($980) and Hendry County ($958), positioning it as the region's expensive anchor. Home values at $333,300 are double or triple rural alternatives, reflecting Tampa Bay's investment desirability and supply constraints.
High incomes needed for affordability
Renters face $1,543 monthly costs (24.7% of income) while homeowners pay $1,458 for mortgages and ownership expenses. The county's $75,011 median income barely covers these costs, leaving little room for the typical household to build wealth or weather emergencies.
Consider Hillsborough's trade-offs carefully
Moving to Hillsborough means accepting Florida's highest housing costs—$1,543 rents and homes averaging $333K—in exchange for Tampa Bay's urban economy and amenities. If you're relocating from higher-income metros or prioritize big-city lifestyle, the trade-off may work; budget-conscious movers should explore rural alternatives saving $500+ monthly.
Cost of Living Advisory: Hillsborough County
Affordability Verdict
Hillsborough County is affordable for renters, with a median gross rent of $1,543/month representing approximately 24.7% of median household income. The rent burden (GRAPI) stands at 32.0%.
Rent vs. Own
The median rent in Hillsborough County is $1,543/month, while owner costs run $1,458/month. Owning saves approximately $85/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $61,720/year. For owner costs at the 28% rule, the required income is roughly $62,486/year. With a median household income of $75,011, most households can comfortably afford rent here. Notably, 32.0% of renter households in Hillsborough County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Lee County where rent averages $1,597/month, Hillsborough County is approximately 3% less expensive.
Affordability Calculator
See how your income compares to housing costs in Hillsborough County
Rent Burden
24.7%
of gross income
Max Housing (28% Rule)
$1,750
per month
Owner Cost Burden
23.3%
of gross income
The median home in Hillsborough County may be a stretch
Median home value is $333,300. Estimated monthly cost: $2,661 vs. your max of $1,750.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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