Quick answer
The median home in Tampa costs $390K. With 20% down ($78K) at 7% for 30 years, the monthly payment is $2,076/month. Total interest paid over 30 years: $435,268.
Calculator · FL · 2026
Mortgage Calculator for Tampa, FL (2026)
Pre-filled with Tampa's median home price of $390K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Tampa Mortgage Payment Scenarios
Median home price: $390K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $19,500 | $370,500 | $2,465 | $3,330 | $516,880 |
| 10% | $39,000 | $351,000 | $2,335 | $3,155 | $489,676 |
| 20% | $78,000 | $312,000 | $2,076 | $2,804 | $435,268 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Tampa
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $390K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$390K home · 20% down ($312K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Tampa?
The median home price in Tampa is $390K. With 20% down and a 30-year loan at 7%, the monthly payment is $2,076. Adding estimated property taxes and insurance brings total monthly costs to approximately $2,466.
Is it cheaper to rent or buy in Tampa?
A 2-bedroom rental in Tampa averages $2,100/month. Buying the median $390K home with 20% down costs approximately $2,466/month (mortgage + taxes + insurance) — $366 more than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Tampa?
Using the 28% housing rule, you need at least $89K–106K in annual gross income to comfortably afford the median $390K home in Tampa with 20% down. You also need $78K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Tampa?
FL has a state income tax rate of None. Property taxes vary by county but on a $390K home, expect $325–$650/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.