If you’re looking to start your next big adventure by moving to Tampa, Florida, you’ll have plenty of things to learn. For example, if you’re new to the state, you may want to know about the sunshine it’s famous for — while long-time Floridians will be more focused on how Tampa compares to other parts of the state.

No matter where you’re coming from, one of the first things you’ll want to research is how to budget for your move. The average rent in Tampa, Florida is one important benchmark — so today, we’ll take a closer look at this number and how it will impact your house-hunt (or apartment-hunt).

What is the average rent in Tampa, FL?

According to the Tampa Bay Times, rent has been going up in the city — and it shows no signs of slowing down. After a review of data from across the Tampa metro area, local news station WTSP reported that a one-bedroom Tampa apartment costs renters between $1,000 and $2,000 per month.

Naturally, the more square footage you want, the higher the average rent will climb. That means houses are generally more expensive to rent than apartments. For example, the Low Income Housing Coalition reports the annual wage needed to afford real estate based on the number of bedrooms:

• One-bedroom: $41,600

• Two-bedroom: $50,840

• Three-bedroom: $66,040

• Four-bedroom: $81,120

The Coalition also reports that, in order to afford the rent for a one-bedroom home, you would need to work 93 hours at a minimum wage job (which pays $8.56/hour in Florida).

However, a report by the National Association of Realtors found that homeownership in the Tampa metro area is more affordable than nationally: The home price to rent ratio is 18.4 vs. 24.1. This is something to keep in mind if you decide you’d rather buy a home in Tampa than rent.

Cost of living in Tampa

The real estate market isn’t the only thing you need to consider as a renter. You’ll also want to do a little research on the total cost of living in Tampa, Florida. This information acts as a benchmark, giving you something to compare against the average rent.

Here’s a look at how much it costs to live in Tampa, according to Payscale:

• Energy: $194.99 monthly
• Gas: $2.77 per gallon
• Loaf of bread: $3.33
• Doctor visit: $108.83
• Dentist visit: $93.49

Overall, according to the Living Wage Calculator by MIT, two working adults with two children would need to make about $87,000 before taxes to live comfortably in Tampa, Florida. Meanwhile, a single adult with no children would need to make about $31,400.

Keep in mind that the cost of living in Tampa also depends on the type of property you choose. For example, a one-bedroom apartment would cost less to heat and cool than a two-story house. Luckily, you have plenty of options in the Tampa metro area — especially if you’d like to be a buyer instead of a renter.

Here are a few property types to consider:

• Studio apartment
• One-bedroom apartment
• Multi-bedroom apartment
• Townhome
• Loft
• Condo
• Duplex/Multi-family home
• Single-family home

Pros and cons of renting in Tampa

Even once you’ve navigated the Tampa real estate market, found the perfect rental property, fought through all the competition for housing and calculated the median rent, you still have challenges to face. On the other hand, you also have benefits that a homeowner may not.

Let’s take a closer look:

Pros

• Flexibility: When renting, you can easily move to a different apartment or part of the city whenever your rental agreement allows. You’re not tied to any one piece of real estate long-term.

• Accessibility: For many, renting is a more accessible option than owning because it doesn’t come with closing costs, down payments and other upfront fees. A renter also doesn’t need to secure a mortgage and worry about long-term interest rates.

• Responsibility: Not very handy around the house? No problem. Your landlord is usually responsible for maintenance and repairs on a rental apartment or other property.

Cons

• Control: A renter is at a disadvantage when it comes to costs. Your landlord could increase monthly fees in an effort to keep up with the real estate market and average rent — and they’re free to do this when a lease ends or with a 15-day notice to month-to-month tenants, according to iPropertyManagement. There’s also no legal limit on how much a Florida landlord can raise the rent.

• Availability: Depending on the specific part of Tampa you’re targeting; you may have trouble finding available rental housing.

• Investment: When you rent an apartment, you’re not making a long term investment or building equity, as you would when buying a house. You might even spend more money in the long run, depending on the length of your tenancy and the amount of your rent.

Although there are benefits and drawbacks to being a renter, the truth is that your best choice will depend on two things: your financial situation and housing availability. Your financial situation is all up to you, but you have a little more control over housing availability — as long as you’re willing to look at different areas in Tampa.

Discover your Tampa area

Your little slice of heaven in Tampa, Florida is out there waiting for you — you just have to know where to look. Start by narrowing down your ideal surroundings: City or suburbs?

Downtown vibes

If it’s downtown vibes you’re looking for, look for your Tampa apartment or property in these areas:

Ybor City

According to Ybor City Online, this area is the only National Historic Landmark District on Florida’s west coast. You’ll see condos, townhomes, bungalows and lofts — not to mention charming aesthetics and vibrant nightlife.

Downtown Tampa

Visit Tampa Bay calls this area the home of “modern marvels” and “authentic treasures” alike. Here, you’ll find condos and highrises — and as a business district, you’ll be close to plenty of work opportunities, too.

Suburban paradise

Looking for something a little slower? These areas might be more your speed:

North Tampa

Apartments, condos, townhomes and both new and remodeled single-family housing options are all available here. Plus, you’ll have easy access to Busch Gardens Tampa Bay and next-door waterpark Adventure Island.

Brandon

If you want real estate with a little more space, head out to Brandon. You’ll find more single-family homes here — and if you’re lucky, maybe even a farmhouse with acreage.

Come home to Tampa with Bungalo®

Want to come home to Tampa, Florida? As a renter, you’ll have plenty of work to do — but with Bungalo, finding your dream property is as easy as searching through our Tampa listings. All our homes are Bungalo Certified, meaning you won’t have to worry about pricey problems with wiring, construction and more. We make it easy to be a happy homeowner instead of a frazzled renter.

If you’re ready to be a Floridian, start browsing our Tampa homes today.