Miami vs Tampa: The Numbers, Side by Side

Deciding between Miami and Tampa? Skip the anecdotes — here is every measurable difference between the two markets (anchored on their core counties): home values and list prices, property taxes at each side’s verified millage, insurance, rents, growth, investor yield and migration — each figure from the named source that produced it.

The head-to-head table

Metric	Miami	Tampa
Typical home value (Zillow)	$523,890	$380,147
Median list price	$588,700	$424,450
1-yr value change	-0.8%	-2.0%
5-yr value change	6.6%	4.2%
Median days on market	87 days	65 days
Active listings	16,534	6,239
Listings with a price cut	12.6%	26.9%
Typical millage (property tax)	17.59 mills	15.73 mills
Avg Citizens insurance	$1,891/yr	$1,816/yr
Typical rent (ZORI)	$2,860/mo	$2,016/mo
Modeled monthly cost to own	$3,142/mo	$2,335/mo
Gross cap rate	6.5%	6.4%
Net migration (people/yr)	-40258	-1186
Residential permits (2025)	16,535	8,696

Bold marks the side a cost-or-yield metric favors. Values from Zillow research series, Realtor.com Economic Research, verified county millage, Citizens Property Insurance filings, Zillow Observed Rent Index, IRS SOI migration and Census permits; all change over time.

What the table actually says

On price, Tampa is the cheaper market — typical values run about $143,743 lower than Miami.

On carrying costs, Tampa has the lower typical millage and Tampa the lower average Citizens premium; the own-versus-rent gap is narrower in Miami.

On momentum, Miami shows the stronger 1-year value change (-0.8% vs -2.0%); five-year growth favors Miami.

For rental investors, Miami carries the higher gross cap rate (6.5% vs 6.4%).

On demand, IRS migration data shows Tampa gaining more net residents per year (-1,186 vs -40,258).

The costs people forget to compare

Two Florida specifics matter more than the sticker gap. First, property tax RESETS to your purchase price when you buy — compare the two markets at YOUR price with the property tax calculator, not at the sellers’ current bills. Second, insurance varies more by home age, construction and distance-to-coast than by county average — quote the specific home. The buyer closing costs calculator builds both into a real cash-to-close for either market.

Dig deeper on Miami

Run the numbers in Miami-Dade County

Dig deeper on Tampa

Run the numbers in Hillsborough County

Common questions

Is Miami or Tampa cheaper to buy a home?

Tampa - typical values (Zillow) run about $143,743 lower. List prices and the tax-and-insurance stack are compared line by line in the table.

How far is Miami from Tampa?

Miami to Tampa is about 280 miles by road, about 4 hours of driving via I-75 across Alligator Alley in normal traffic. That distance is why the two are separate housing markets with their own prices, taxes and insurance, compared in the table above.

Which has lower property taxes, Miami or Tampa?

Tampa has the lower typical combined millage (15.73 vs 17.59 mills). Remember Florida resets assessed value to your purchase price in either market.

Which is better for rental investors?

By gross cap rate, Miami currently yields more (6.5% vs 6.4%) - before insurance and management differences, which the investor pages cover.

A factual comparison of market data only, from the sources named above as of 2026-09-11; figures change over time and are deemed reliable but not guaranteed. It describes markets, not people, and is not advice about where anyone should live. Equal Housing Opportunity.