Short answer: In Tampa, FL, the median home value is $494,400 and the median 3-bedroom rents for $2,176/mo (Census ACS 2024). That's a rent-to-price ratio of 0.44%, so it misses the 1% rule and ranks #32 of the 50 largest US rental markets. With 20% down at 7.40%, FirstDoor scores a median-priced home Pass (−$1,518/mo cash flow).
Key numbers
The 1% rule in Tampa
Before running a full analysis, many investors check whether rent is at least 1% of price. This is where Tampa lands.
Across all rentals (not just 3-bedrooms) the ratio is 0.38%. A home renting for the median 3-bedroom rent would need to cost about $218,000 or less to pass.
A typical Tampa home, scored
We took a home at the median value, gave it the median 3-bedroom rent, and ran it through the same math as the FirstDoor calculator: 20% down, a 30-year loan at 7.40%, the city's median tax rate, and standard expense budgets.
| 3-bedroom rent (median) | $2,176 |
| Property tax ($4,031/yr, local median) | −$336 |
| Insurance ($2,470/yr, assumed) | −$206 |
| Vacancy 6% · Maintenance 5% · Management 8% | −$413 |
| Net operating income | $1,221 |
| Mortgage (P&I on $395,520 at 7.40%) | −$2,739 |
| Monthly cash flow | −$1,518 |
What price works in Tampa?
How low would the price need to be? With the median Tampa 3-bedroom rent, here's where each result kicks in.
Takeaways
- Tampa's 0.44% ratio is a long way from the 1% rule (#32 of 50). Most investors here are betting on appreciation, not monthly income.
- A median-priced home here would cost you about $1,518/mo out of pocket after the mortgage and every expense. To break even you'd need to pay about $266,000, 46% below the median.
- Prices are outrunning rents: home values rose 8.7% from 2023 to 2024 while 3-bedroom rent rose 1.0%. The 1% math got tougher.
- Renters already spend a median 34.4% of income on rent, so don't count on big rent increases.
Frequently asked questions
Does Tampa pass the 1% rule?
No, on typical numbers. The median 3-bedroom gross rent is $2,176/mo and the median home value is $494,400 (Census ACS 2024 1-year), a ratio of 0.44%. To pass at that rent, a home would need to cost about $218,000 or less.
What is the typical rent for a 3-bedroom in Tampa?
The median gross rent for a 3-bedroom in Tampa, FL is $2,176 a month, and $1,898 across all rentals (Census ACS 2024 1-year). Gross rent includes utilities the renter pays, so the landlord's share can be a bit lower. The 3-bedroom median rose 1.0% from 2023.
Can you cash flow a rental in Tampa?
At the median price, not easily. With 20% down at 7.40% and realistic expenses, a $494,400 home renting for $2,176 loses about $1,518/mo. It breaks even at roughly $266,000.
How much cash do you need to buy a typical rental in Tampa?
About $113,680: a 20% down payment of $98,880 plus closing costs we assume at 3% ($14,800). Lenders often also want several months of reserves. Investment loans commonly need 15–25% down.
Is Tampa a good place to buy a first rental?
FirstDoor scores a median-priced home in Tampa as Pass (0 of 8 points). That's a starting point, not a verdict on every listing: neighborhoods vary, and buying below the median changes the math. Run any listing through the free calculator.
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Sources
Data: U.S. Census Bureau, 2024 American Community Survey 1-year estimates (released September 2025); year-over-year changes compare with 2023. Mortgage rate: Freddie Mac PMMS, week of October 15, 2026. Retrieved October 15, 2026. Insurance ($2,470/yr), closing costs (3%), maintenance (5%) and management (8%) are FirstDoor assumptions, not local data. Investment-property loans often price above the PMMS average. Medians describe the whole city, not any one home. Educational content, not financial advice.