Quick answer
At current rates, renting wins over the full 30-year horizon in Tampa. Monthly ownership cost $3,303 (vs $$2,100/mo rent) plus FL's 0.98% property tax make the math tough.
Rent vs Buy · FL
Rent vs Buy in Tampa (2026)
Real math using FL's 0.98% property tax rate, $7,500/year average insurance, and a 6.8% 30-year fixed mortgage. Accounts for opportunity cost — what the down payment would earn invested at 7%.
Last updated: April 23, 2026
Verdict at current rates
Renting wins (30-year horizon)
In Tampa at FL's tax rates and current 6.8% mortgages, keeping the down payment invested at 7% beats homeownership even after 30 years. The standard advice "buy to build equity" doesn't apply here at today's price-to-rent ratio.
Monthly Cost Breakdown
Buying
$3,303/mo
Mortgage P&I
$312,000 loan, 30yr @ 6.8%
$2,034
Property tax
0.98% of assessed (FL avg)
$319
Homeowners insurance
$7,500/yr FL avg
$625
Maintenance
1%/yr of home value
$325
Cash at close: ~$87,750 ($20% down + fees)
Renting
$2,100/mo
2BR rent (median)
Tampa market rate
$2,100
Renters insurance
~$15/mo typical
$15
Down payment invested
$78,000 growing at 7%/yr
(opportunity cost)
Monthly gap: $1,203 cheaper than buying. Renter invests that difference.
Year-by-Year Net Position
"Buy wins by" = what you'd clear selling the home minus what the renter has in investments. Positive = buy ahead.
| Year | Home value | Buyer equity (net) | Renter portfolio (net) | Buy wins by |
|---|---|---|---|---|
| Year 5 | $452,117 | $-149,474 | +$55,288 | $-204,762 |
| Year 10 | $524,127 | $-244,327 | +$46,315 | $-290,642 |
| Year 15 | $607,607 | $-321,856 | +$60,258 | $-382,113 |
| Year 30 | $946,632 | $-352,101 | +$407,065 | $-759,166 |
Assumptions
Every rent-vs-buy calculator depends on the assumptions. Here are ours — all transparent, none cherry-picked to bias the answer.
This is a rule-of-thumb calculator. Real decisions involve your specific tax bracket, any HOA, mortgage points, closing-cost negotiations, and exact loan terms.
Frequently Asked Questions
Is it better to rent or buy in Tampa?
In Tampa at current mortgage rates (6.8%), renting and investing the down payment beats buying for the full 30-year horizon. Median monthly ownership costs ($3,303) well exceed median 2BR rent ($2,100), and FL's 0.98% property tax makes the math especially tough.
What's the monthly cost of owning a home in Tampa?
On a median $390K home with 20% down at 6.8% fixed rate: mortgage P&I $2,034, property tax $319 (0.98% of assessed value), homeowners insurance $625 (FL average $7,500/year), and maintenance $325 (1% of home value/year). Total: $3,303/month.
How much down payment do I need to buy in Tampa?
20% down on a median Tampa home ($390K) is $78,000. Plus closing costs of roughly 2.5% ($9,750). Total cash-to-close: about $87,750. FHA loans allow 3.5% down ($13,650) but require mortgage insurance that adds ~$152/month.
What's the 10-year cost of renting vs buying in Tampa?
Over 10 years in Tampa: renters pay $288,890 in cumulative rent but have $335,205 invested (assuming 7% return on the $78,000 down payment + monthly savings). Buyers have paid $470,546 in total ownership costs and hold $257,666 in home equity. Net: renting is ahead by $290,642 at year 10.