TAMPA, Fla. — Rent prices continue to rise across the Tampa Bay area and many renters are feeling the squeeze not only to their wallets but also to the amount of living space they have access to.
Last week, we shared information from a study that showed renters in Tampa need to make more than $80,000 a year just to afford the average rent without being significantly rent burdened. That study showed the average rent in Tampa was $2,118.75.
However, the average median income for Tampa is only $59,893, according to the latest data from the U.S. Census. ZipRecruiter has a similar average of just over $60,000 a year, or about $29 per hour.
So trying to find a more affordable living space to rent is likely top of mind for many. Maybe something closer to the tune of $1,500?
But just how much space could you reasonably expect to get for that amount? Analysis from RentCafe provides some insight. Each year, the company looks at how much square footage you can get across a number of cities in the U.S. This year, they examined 200 cities — 100 large and 100 small.
Two of the Tampa Bay area's largest cities, Tampa and St. Petersburg, were ranked near the bottom of the list of apartment sizes renters could get for $1,500 — 69 and 74, respectively.
According to RentCafe, renters in Tampa could get 774 square feet for $1,500 a month. However, the average rent is about $1,891 but you do get more space with an average of 925 square feet.
Across the bridge in St. Petersburg, you'll get a little less space for that $1,500 — only about 664 square feet. And the average rent is also more expensive at $1,969 with that getting you only about 871 square feet.