Cost of Living in Hillsborough County, Florida

$1,543/mo

Median Monthly Rent

$333,300

Median Home Value

25% above state averageUnaffordable

At a Glance

Median Monthly Rent

$1,543/mo

25% above state average

Median Home Value

$333,300

18% above national

Rent-to-Income Ratio

32.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Hillsborough County Compares

Median monthly rent comparison

Hillsborough County$1,543/mo

Florida Average$1,233/mo

National Median$1,163/mo

Detailed Housing Stats

$1,543/mo

Median Gross Rent

$333,300

Median Home Value

$1,458/mo

Monthly Owner Cost

32.0%

Rent-to-Income Ratio

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.

Affordability Calculator

See how your income compares to housing costs in Hillsborough County

Your Annual Household Income

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

Your rent-to-income ratio24.7%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Hillsborough County, Florida?

Hillsborough County, Florida has a median monthly rent of $1,543/mo and a median home value of $333,300. The affordability rating is Unaffordable, with rent making up approximately 32.0% of median household income.

What is the median rent in Hillsborough County?

The median gross rent in Hillsborough County is $1,543/mo. This is 25% above state average for Florida.

Is Hillsborough County affordable?

Hillsborough County is rated Unaffordable based on rent-to-income ratio of 32.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Hillsborough County's rent compare to the state average?

Hillsborough County's median rent of $1,543/mo is 25% above state average of $1,233/mo for Florida.

What is the median home value in Hillsborough County?

The median home value in Hillsborough County, Florida is $333,300. This is 18% above the national median home value of $281,900.