Tampa Renters Need To Work 70 Hours A Week According To Zillow

Bad news for renters in Tampa. Soaring rent prices are causing residents to work more hours than ever before. A recent study done by Zillow shows that Tampa renters need to work at least 69 hours a week in order to make ends meet. We saw a huge jump in rent prices mainly because of the pandemic, and because the huge demand of people moving to the area. According to Zillow, the median rent price in Tampa is currently $2,300.

The Zillow research tells us that an average worker in Tampa needs to work an additional 20 hours to pay rent compared to 5 years ago. While rent keeps spiking, there hasn't been much of an increase in paid wages. Over the past five years, rents have grown 36.9% while the average wage is up only 23%. This has caused many people to opt into moving in with roommates or with their families in order to save money. Others have considered moving a little further outside the city to find something more affordable.

Rent growth seems to have cooled since reaching a peak earlier this year. Unfortunately some major metro areas in Florida like Miami, Tampa and Orlando haven't seen that kind of plateau. The typical U.S. rent finally ended a two-year streak of non-stop growth in October.

Although things may seem bad here, they're worst in Miami. Renters in Miami face the greatest affordability hurdles, needing to work 96 hours at the average wage to pay the typical rent.

[Source: Zillow/Fox 13 News]

Gas prices dropped another few cents this week. The state average is at $3.35 but there are many places in Hillsborough County and Pinellas County where you can fill up for under $3 a gallon, according to Gas Buddy. Many like Sam's Club and Costco require a paid membership, but there are a handful that do not.

The Costco on Gulf to Bay Boulevard has the lowest prices in the area with gas at $2.74 a gallon.

Another one that requires a paid membership, but if you are a member this Cotsco on West Linebaugh is at $2.81/gallon.

Gas Buddy says you can fill up at this station on US41 for $2.84/gallon.

This location on Causeway Blvd has gas for $2.89/gallon.

Good excuse to go get one of those strawberry shakes.  This spot on Redman Parkway has gas for $2.93/gallon.

If the line is long at Murphy, head to 5117 US-92... same price.

$2.93/gallon as of yesterday.

Plant City seems to be the place to go for good prices... $2.93 at the Circle K on Park Round.  $2.95 at the one on East Sparkman.

Just barely under that $3 mark, this location on US98 has gas for $2.98/gallon as of this morning.