The Sunshine City, Tampa, FL, is known for its beautiful beaches along the Tampa Bay, vibrant arts culture, and neighborhoods full of historic Spanish architecture. There are many reasons to consider moving to Tampa, from attractions like the Tampa Riverwalk, the Henry B. Plant Museum, countless historic districts, and professional sports teams.
With an average rent of $1,895 for a studio and $1,742 for a one-bedroom apartment, Tampa may not fit into your rental budget. If you’re looking to rent an apartment in Tampa, we’ve got you covered. ApartmentGuide has compiled a list of the most affordable neighborhoods in Tampa to help you find the perfect place that fits your budget.
9 Affordable Neighborhoods in Tampa, FL
From North Tampa to University Square, these Tampa neighborhoods offer affordable options that won’t break the bank. Let’s dive in and explore the best neighborhoods for renters in Tampa.
1. North Tampa
2. University Square
3. Temple Crest
4. 40th Street Corridor
5. Terrace Park
6. Ybor City Historic District
7. Wellswood
8. Tampa Heights
9. North Hyde Park
Read on to see what each neighborhood has to offer its residents.
1. North Tampa
Average studio rent: $895
Average 1-bedroom rent: $1,000
Apartments for rent in North Tampa
North Tampa is the most affordable neighborhood in Tampa, as the average rent for a one-bedroom unit is $1,000. There are many reasons to love living in North Tampa, from attractions like Busch Gardens and the University Mall to green spaces like Copeland Park. If you’re looking for a taste of the neighborhood, there are a variety of local restaurants to explore, showcasing Tampa’s food scene. For renters living in Tampa without a car, there are a few bus stops close to North Tampa.
2. University Square
Average studio rent: $1,200
Average 1-bedroom rent: $1,050
Apartments for rent in University Square
University Square is a bustling area next to North Tampa. This affordable neighborhood has many attractions, such as the University Mall and Copeland Park. Busch Gardens, a popular theme park with rollercoasters, zoo exhibits, and more, is also nearby.
3. Temple Crest
Average studio rent: $990
Average 1-bedroom rent: $1,162
Apartments for rent in Temple Crest
With an average one-bedroom rent of $1,162, Temple Crest is the third-most affordable neighborhood in Tampa. This neighborhood is a fantastic option to consider as it’s near attractions like Rowlett Park and Busch Gardens. There are also picturesque views of the Hillsborough River, so this area is great for exploring and enjoying Tampa. If you’re looking for a relaxing afternoon, you can find Temple Crest Center Playground in the area.
4. 40th Street Corridor
Average studio rent: $1,015
Average 1-bedroom rent: $1,187
Apartments for rent in 40th Street Corridor
40th Street Corridor is the fourth-most affordable neighborhood in Tampa and encompasses areas like Temple Crest. This neighborhood is a great option if you’re looking for access to plenty of shops and restaurants. For example, you can easily access the University Mall, Lettuce Lake Park, and the Museum of Science and Industry.
5. Terrace Park
Average studio rent: $1,000
Average 1-bedroom rent: $1,300
Apartments for rent in Terrace Park
Just about 10 miles from downtown, Terrace Park is a stellar neighborhood if you want to live near downtown. Terrace Park is home to attractions like Busch Gardens, the Museum of Science and Industry, and Takomah Trail Park. There are also plenty of restaurants and bars in the area, such as the Yuengling Brewing Company and Petra Restaurant.
6. Ybor City Historic District
Average studio rent: $1,699
Average 1-bedroom rent: $1,390
Apartments for rent in Ybor City Historic District
Next up is Ybor City Historic District, the sixth-most affordable neighborhood in Tampa. Ybor City is full of history and charm, with tree-lined streets, historic buildings, and museums. This area also has plenty of parks, restaurants, and attractions, so you’ll have lots of explore. Make sure to enjoy the outdoors at Centennial Park, explore Ybor City Museum State Park, see a show at The Ritz Ybor, or grab a meal at one of the neighborhood restaurants. There’s something for everyone living in Ybor City.
7. Wellswood
Average studio rent: $1,225
Average 1-bedroom rent: $1,400
Apartments for rent in Wellswood
Northwest of downtown, Wellswood is the seventh-most affordable neighborhood in Tampa. Wellswood has a friendly atmosphere and community feel, with plenty of local cafes and restaurants along Armenia Avenue, such as Mambos Cafe and La Cabana Restaurant. You can also check out some of Wellswood’s green spaces, such as Wellswood Park. There are also several bus stops in the area, so living in the neighborhood without a car is possible.
8. Tampa Heights
Average studio rent: $1,275
Average 1-bedroom rent: $1,450
Apartments for rent in Tampa Heights
Tampa Heights takes the eighth spot on our list of most affordable neighborhoods in Tampa. It’s a great area for renters new to the city, as it’s just north of downtown. Also, the average rent for a one-bedroom unit is roughly $1,450, making Tampa Heights a less expensive area. It has several attractions like Water Works Park, Armature Works, a famous food hall by the water, and Robles Park Center.
9. North Hyde Park
Average studio rent: $1,395
Average 1-bedroom rent: $1,495
Apartments for rent in North Hyde Park
A well-known Tampa neighborhood, North Hyde Park takes the last spot on our list of affordable neighborhoods in Tampa. North Hyde Park near the Tampa Riverwalk and the Straz Center for the Performing Arts, meaning there’s plenty to do throughout the week. You’ll find there are countless historic buildings in North Hyde Park, so make sure to explore the area’s charm. If you need to commute to work, there are lots of options as Kennedy Boulevard is nearby.
Methodology: Affordability based on whether a neighborhood has average studio and 1-bedroom rent prices under the city’s average. Average rental data from Rent.com in March 2024.