In the 2024 Regional Competitiveness Report, Tampa Bay has a poverty rate of 12.45%, just above the national average of 12.58%. Tampa Bay’s youth poverty rate ranks 17th out of 20 at 16.83%. This means nearly 1 in 5 of residents under age 18 are living in poverty.
Our performance in the full-time worker poverty rate indicator decreased in value and fell in ranking. While we are improving as a region in serving those that fall within poverty guidelines (our most at-risk populations), this trend may reflect the affordability crisis, and demonstrate an increase in obstacles the general working population faces due to increases in the overall cost of living.
Our regional performance for Financial Instability Rate: ALICE + Poverty has gotten worse, although the U.S. average has improved. Tampa Bay fell from 13th place in this indicator to 19th place; 46.10% of our population struggles to make ends meet.