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

Author Daniel Morabito

February 5th 10:14 AM

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.

How has Inflation impacted income in Florida?

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.

How far does a $100,000 salary go in Tampa?

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.

Originally from the Midwest and moved down to Tampa Bay after college. When Daniel is not working on Beasley Content, you can find him fishing or skateboarding. Daniel enjoys writing about local restaurants across the Tampa Bay area, Florida lottery stories, and concert reviews/photos.

Here Are The Cheapest Florida Cities To Rent In 2024

10. Tallahassee
Tallahassee has a population of 197, 102! The average rent price: $1,464.
9. Winter Haven
Winter Haven has a population of 52,710 and the average rent price is $1456.
8. Tarpon Springs
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!
7. Lynn Haven
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.
6. Plant City
Plant city has a population of 39,653. The average rent price in Plant City is $973.
5. Panama City
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.
4. Green Cove Springs
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.
3. Titusville
Titusville has a population of 46, 580. The average rent price in this city is $948. Titusville is also in the Jacksonville area.
2. Haines City
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.
1. Lake City
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.