Tampa’s Cost of Living Index is the Lowest in Florida

If you’re planning to move to Tampa, you’ll be happy to know that the cost of living in Tampa is the lowest in Florida and among the lowest in the country.

 

Over the three-year period from 2012 to 2015, Tampa’s average cost living index (COLI) has been 92.3, the lowest among metro areas in Florida and among the lowest in the country, based on data from the Council for Community and Economic Research (C2ER) and the Tampa Hillsborough Economic Development Corp.

Here’s how Tampa’s COLI in 2015 compares to those of other major US cities based on C2ER’s COLI:

90.5  —   Raleign, North Carolina
91.6  —   Tampa, Florida
95.2  —   Nashville, Tennessee
95.6  —   Phoenix, Arizona
96.0  —   Austin, Texas
96.1  —   Dallas, Texas
96.4  —   Charlotte, North Carolina
98.2  —   Orlando, Florida
99.0  —   Jacksonville, Florida
99.9  —   Atlanta, Georgia
109.6 —  Denver, Colorado

Based on charts created by PayScale using data from C2ER, the following notes show how TAMPA compares with other Florida cities in terms of expenses:

Tampa and Miami

Groceries: Tampa is cheaper by 9%
Housing: Tampa is cheaper by 38%
Transportation: Tampa is cheaper by 7%
Health care: Tampa is cheaper by 12%
Overall Expenses: Tampa is cheaper by 16%
Utilities: Tampa is more expensive by 4% *

Tampa and Orlando

Groceries: Tampa is cheaper by 4%
Housing: Tampa is cheaper by 15%
Health care: Tampa is cheaper by 3%
Utilities: Tampa is cheaper by 6%
Overall Expenses: Tampa is cheaper by 7%
Transportation: Tampa is more expensive by 3% *

Tampa and Sarasota

Groceries: Tampa is cheaper by 4%
Housing: Tampa is cheaper by 24%
Health care: Tampa is cheaper by 17%
Transportation: Tampa is on the same level with Sarasota
Overall Expenses: Tampa is cheaper by 8%
Utilities: Tampa is more expensive by 3% *

Tampa and Jacksonville

Groceries: Tampa is cheaper by 3%
Housing: Tampa is cheaper by 10%
Transportation: Tampa is cheaper by 1%
Utilities: Tampa is cheaper by 6%
Overall Expenses: Tampa is cheaper by 5%
Health care: Tampa is more expensive by 4% *

Tampa and Tallahassee

Groceries: Tampa is cheaper by 9%
Housing: Tampa is cheaper by 23%
Health care: Tampa is cheaper by 14%
Overall Expenses: Tampa is cheaper by 6%
Transportation: Tampa is more expensive by 3% *
Utilities: Tampa is more expensive by 14% *

In these five comparisons, expenses for housing and groceries are cheaper in Tampa compared to all five other Florida cities. Overall, expenses are cheaper in Tampa. Many other studies affirm that Tampa is among the most affordable housing markets in Florida and in the U.S.