While Tampa has a comparatively low cost of living, costs are rising, especially when it comes to the average rental and sale prices of homes. Tampa, followed by Gainesville, Orlando, Miami and Sarasota, are among the five most expensive cities in large cities, based on data reflecting factors such as housing, leisure activities, food, clothing, transportation and utility costs. Those costs were compared to per capita income to form the index, the study's authors said in a news release. Many of those who moved to the Tampa Bay area during the pandemic are leaving because they can no longer afford it. Tampa homeowners can benefit from the Florida family home exemption, which offers reductions and limits on property tax assessments, providing significant long-term savings.
Tampa Bay's overall inflation rate during the pandemic surpassed that of New York, San Francisco and Honolulu.
