How Far A $100,000 Salary Actually Goes In Tampa

Everybody wants to achieve that 6 figure income at some point in their life. Whether you’re starting your own business or working up the ladder at a corporation, a six-figure salary seems good on paper. But, how far does a $100,000 salary go in Tampa? Not nearly as far as you might think.

GoBankingRates.com took the 50 largest cities in the USA to see how far a six-figure salary would go. They based their study on the national costs for renting, population, expenses, and more.

Back in June 2022, the inflation rate in the US hit its highest point in nearly 40 years. Based on information from the US Bureau of Labor Statistics, inflation had supposedly dropped in December 2023, but prices don’t seem to reflect that.

Prices on goods are up 19% overall, food prices are up nearly 25%, energy prices are up 26%, and housing has risen by 21% from January 2020 to December 2023. They can say inflation is starting to decline, but my receipts tell a different story.

Take a look at vehicles for instance, according to Kelley Blue Book, new car prices are down 2.4% from the beginning of 2023, but the average car price is still roughly 18% higher than in 2020. New vehicles are filling up the lots, but the prices are still astronomically higher than they were just a few years ago. 

Let’s take a look at the MSRP prices of a brand-new Chevy Silverado 1500 in 2019 compared to 2024 from a local dealer in Tampa Bay. The 2019 Base model Chevy Silverado in a 2WD Single Cab option (basic fleet and work truck) came in at $30,290. In 2024, the same truck brand new has an MSRP of $41,285. Prices increased because of demand, but when the demand was filled, the prices remained the same.

Thanks to GoBankingRates.com, we have a full breakdown of the average costs for the people of Tampa Bay. Your net annual pay after income taxes for a $100,000 salary, is $78,089. Annual rent costs roughly $26,629. On average, groceries cost $5,994 annually. Healthcare has an annual cost of $5,868. 

Utilities run on average about $4,381. depending on energy costs. Transportation annual average costs are $7,281 and “other” costs add up to around $1,051 on average. Your total expenses come in around $51,204 with $26,885 average income left over after all expenses.

For more information on how far a six-figure salary would go in Florida Cities, as well as cities across the US, click here.

Are you moving to Florida in 2024? If so you are making the right decision! When figuring out where to move what are some of the things you research? Safety and cost of living are some of the things that I want to know about the area. With that being said in this article you will find the Cheapest Florida cities to rent in 2024.  I live in St. Petersburg, but unfortunately, it's not on the list.

The weather is always nice for the most part in Florida. On top of that, we have all the best theme parks. In our great state, we have Busch Gardens, Universal Orlando, Disney World, Sea World, and much more. We are also home to some of the most beautiful beaches. If you do move to Florida, make sure you go and check out Siesta Key Beach.

A lot of my family members want to move to Florida. I was just home for the Detroit, Lions game and my cousin told me that he was moving down here soon. He is currently looking at places to rent and was wondering which cities are the most affordable. He also has a daughter so he was asking about school districts as well. You can find the best school districts in Florida here.

According to Fast Expert, the average rent in Florida is $1790 per month. This is compared to $1,100 nationwide. About 33.75% of households in Florida rent their homes. I currently rent but am looking to buy something towards the end of this year.

If you are moving to Florida or living and Florida to relocate this article will be very helpful. Below are the cheapest Florida cities to Rent in 2024. Hope you find the city of your dreams and have a great 2024. Feel free to email me Babs@wild941.com

Tallahassee has a population of 197, 102! The average rent price: $1,464.

Winter Haven has a population of 52,710 and the average rent price is $1456.

Tarpons Springs have a population of 25,560 and average rent price is $1,469. There's lots to see and do in Tarpon Springs, and so many good authentic Greek restaurants. The Sponge Docks is also a great way to spend a Sunday afternoon!

Lynn Haven has a population of 18,990. Average rent price in Lynn Haven is $1305. I've never heard of this Florida city so I had to look it up. It is located in Bay County, and is not far from Panama City.

Plant city has a population of 39,653.  The average rent price in Plant City is $973. We can think of a lot of reasons why the rent is super cheap here.

Panama City has a population of 34,667 and the average rent price is $945. For it being a popular tourist destination, we're surprised the rent isn't more expensive.

Green Cove Springs has a population of 8, 577. The average rent price is $916. Green Cove Springs is apart of the Jacksonville metro area.

Titusville has a population of 46, 580. The average rent price in this city is $948. Titusville is also in the Jacksonville area.

Haines City has a population 26, 009. The average price of rent is $1024. Haines City is in Polk County and is not far from the Lakeland area.

Lake City has a population of 12,352. The average price is $856. Lake City is a super small town 60 miles west of Jacksonville. Rent must be super cheap here because there are little to no amenities and NOTHING to do.