Home Buying in Tampa
Tampa is a thriving Gulf Coast metro with a diverse economy, vibrant nightlife in Ybor City, and one of Florida's most affordable major cities.
Frequently Asked Questions
Common questions about buying a home in Tampa
What is the current mortgage rate in Tampa?
The average 30-year fixed mortgage rate in Tampa, FL is currently 6.23% as of April 24, 2026. This is sourced from Freddie Mac's weekly survey via FRED.
How much is a down payment on a home in Tampa?
With Tampa's median home price of $390,000, a 20% down payment would be $78,000. First-time buyers may qualify for FHA loans with as little as 3.5% down ($13,650).
What are property taxes like in Tampa?
Tampa is in Hillsborough County. The average effective property tax rate is 0.9%, working out to approximately $3,510 per year on a median-priced home. Florida's Homestead Exemption can reduce your taxable value by up to $50,000 if this is your primary residence.
Is it better to rent or buy in Tampa?
With a monthly mortgage payment of ~$1,917 (20% down) vs. median rent of $2,000, buying costs more per month but builds equity. The break-even point depends on how long you plan to stay and your down payment amount.