Affordability remains a top concern for Tampa Bay residents. Housing costs now account for 42.61% of a household’s average expenses, an increase of over 3 percentage points in a single year.
When looking at the affordability of housing and transportation combined, we see a national increase in expenses of about 2.5 percentage points. In all of the top twenty comparison communities, more than half of every dollar earned is now spent on transportation and housing. For Tampa Bay residents (rank 18th), we now spend 57.06% of our household budget on housing and transportation. Minneapolis-St. Paul is ranked 1st at 52.47%, 4.59 percentage points less expensive than our region. However, in South Florida, transportation and housing expenses account for just under 60 cents of every dollar.