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) | $522,601 | $380,041 |
| Median list price | $592,450 | $429,450 |
| 1-yr value change | -1.6% | -2.6% |
| 5-yr value change | 6.9% | 4.6% |
| Median days on market | 86 days | 63 days |
| Active listings | 17,024 | 6,037 |
| Listings with a price cut | 12.2% | 26.9% |
| Typical millage (property tax) | 17.59 mills | 15.73 mills |
| Avg Citizens insurance | $1,891/yr | $1,816/yr |
| Typical rent (ZORI) | $2,886/mo | $2,025/mo |
| Modeled monthly cost to own | $3,099/mo | $2,309/mo |
| Gross cap rate | 6.6% | 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 $142,560 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 (-1.6% vs -2.6%); five-year growth favors Miami.
For rental investors, Miami carries the higher gross cap rate (6.6% 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
- Find the best agent in Miami-Dade County
- Get a cash offer in Miami-Dade County
- Miami-Dade County housing scorecard
- What would selling net you
- Buyer closing costs calculator
Dig deeper on Tampa
Run the numbers in Hillsborough County
- Find the best agent in Hillsborough County
- Get a cash offer in Hillsborough County
- Hillsborough County housing scorecard
- What would selling net you
- Buyer closing costs calculator
Common questions
Is Miami or Tampa cheaper to buy a home?
Which has lower property taxes, Miami or Tampa?
Which is better for rental investors?
A factual comparison of market data only, from the sources named above as of 2026-06-16; 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.