Salary & Cost of Living in Tampa, FL
Tampa, FL: $60,000 median salary, cost of living index 102, $14.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$60,000
$29/hr
Cost of Living
102
US avg = 100
Minimum Wage
$14.00
per hour
Unemployment
3%
rate
Tampa, FL Overview
Population
384,959
Median Salary
$60,000
Average Salary
$66,500
Avg Commute
27 min
Median Home Price
$350,000
Median Rent
$1,600/mo
Job Growth
+2.8%
Sales Tax
7.5%
Tampa is located in Florida with a population of 384,959. The median household salary is $60,000 per year ($29/hour), which is $616 above the national median of $59,384. The average commute time is 27 minutes, and the city has a job growth rate of +2.8%.
Tampa Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Tampa, FL, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$50,249
$4,187.38/month · $1,932.63/biweekly · Effective Rate: 16.3%
Gross Pay
$60,000
Federal Tax
-$5,162
State Tax
$0
Local Tax
$0
FICA
-$4,590
Net Pay
$50,249
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,000.00 | $60,000.00 |
| Federal Income Tax | -$430.13 | -$5,161.50 |
| Florida State Tax (0%) | $0.00 | $0.00 |
| Social Security (6.2%) | -$310.00 | -$3,720.00 |
| Medicare (1.45%) | -$72.50 | -$870.00 |
| Net Take-Home Pay | $4,187.38 | $50,248.50 |
Salary Comparison: Tampa vs Other Cities
See how Tampa's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Tampa, FL | $60,000 | 102 | $58,824 |
| National Average | $59,384 | 100 | $59,384 |
| Idaho Falls, ID | $60,000 | 93 | $64,516 |
| Joliet, IL | $60,000 | 90 | $66,667 |
| Kansas City, MO | $60,000 | 90 | $66,667 |
| Fargo, ND | $60,000 | 93 | $64,516 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Tampa
Tampa's cost of living index is 102 (national average = 100). Living in Tampa is 2% more expensive than the national average.
Median Home Price
$350,000
Median Monthly Rent
$1,600
Annual Rent Cost
$19,200
Your Salary's Purchasing Power
Your $50,249 annual take-home pay in Tampa has the purchasing power of approximately $49,263 in an average-cost US area. You would need to earn $61,200 in Tampa to match a $60,000 salary in an average-cost city.
Top Industries in Tampa
Tampa's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $60,000.
Salary Tips for Tampa Workers
- No state income tax advantage. Florida has no state income tax, which means more of your paycheck stays in your pocket. Invest the savings in a Roth IRA or 401(k) for long-term growth.
- Research top industries. Tampa's top industries include Finance, Healthcare, Technology. Targeting roles in these sectors can help you earn above the $60,000 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
Compare salary data and cost of living for hundreds of US cities. Find out where your paycheck goes the furthest.
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Frequently Asked Questions
What is the median salary in Tampa, FL?
The median salary in Tampa, FL is $60,000 per year, or $29 per hour. The average salary is $66,500. This is $616 above the national median of $59,384.
What is the cost of living in Tampa, FL?
Tampa's cost of living index is 102 (national average = 100), meaning it is 2% more expensive compared to the national average. The median home price is $350,000 and the median monthly rent is $1,600.
What are the best industries in Tampa?
The top industries in Tampa, FL include Finance, Healthcare, Technology. The city has a job growth rate of 2.8% and an unemployment rate of 3%. Workers in these industries often earn above the city's median salary of $60,000.
How does Tampa's salary compare to other cities?
Tampa's median salary of $60,000 is 1.0% above the national median of $59,384. However, when adjusted for cost of living (index: 102), the real purchasing power is approximately $58,824.
What is the minimum wage in Tampa, FL?
The minimum wage in Tampa, FL is $14.00 per hour. This equals approximately $29,120 per year for a full-time worker (40 hours/week). This is $6.75 above the federal minimum wage of $7.25/hour.