Best Affordable Neighborhoods in Tampa, FL
Some of the cheapest neighborhoods in Tampa are Egypt Lake, Forest Hills, and University Square. These neighborhoods offer some of the lowest rent prices in Tampa, making them ideal for renters on a budget. As of May 10, 2026, the average rent in Tampa is $1,640, which is 2.7% lower than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Egypt Lake
Average Rent
$1,154/Month
Year-Over-Year Rent Change
19%
Units Available
59 Rentals
When you’re looking for a great Tampa neighborhood on a budget, check out Egypt Lake. The average rent is $1,154, compared to the city average of $1,640. Rent prices have decreased by 19%. Egypt Lake is convenient to The Florida Aquarium, Streetcar Society Station (#3), and Cadrecha Plaza Station (#4).
Forest Hills
Average Rent
$1,232/Month
Year-Over-Year Rent Change
11.6%
Units Available
26 Rentals
Forest Hills is an affordable neighborhood in Tampa with an average rent price of $1,232. Compare this to the city average of $1,640. In the past year, rent prices have decreased by 11.6%. Forest Hills provides easy access to Cadrecha Plaza Station (#4), Tampa International, and Lake Carroll Plaza.
University Square
Average Rent
$1,233/Month
Year-Over-Year Rent Change
3%
Units Available
414 Rentals
University Square, close to the University of South Florida, is ideal for those who appreciate educational and recreational opportunities. Rental options here are typically budget-friendly, making it perfect for students and young professionals. This area also boasts numerous shopping centers and eateries, adding to its appeal.
Oak Grove
Average Rent
$1,275/Month
Year-Over-Year Rent Change
2%
Units Available
153 Rentals
Oak Grove, Tampa, offers a serene suburban setting just north of Downtown Tampa. Residents enjoy reasonably priced midsize homes, a variety of Latin American restaurants, and a short drive to Egypt Lake. Convenient access to both quick-bite dining and lush green spaces makes Oak Grove a desirable option for renters.
Plaza Terrace
Average Rent
$1,309/Month
Year-Over-Year Rent Change
1.9%
Units Available
77 Rentals
If you’re looking for a great, affordable neighborhood in Tampa, Plaza Terrace might be the perfect place! It has an average rent price of $1,309, while the city’s average stands at $1,640. In the last year, prices have decreased by 1.9%. Plaza Terrace is near Lowry Park Zoo, Skyconnect Passenger Terminal Station, and The Greenhouse Shops.
Northeast Community
Average Rent
$1,321/Month
Year-Over-Year Rent Change
0.1%
Units Available
68 Rentals
Northeast Community is a top choice for budget-conscious renters for a variety of reasons. The average rent in Northeast Community is $1,321 while the city average is $1,640. This is a 0.1% difference from last year. Residents enjoy convenient access to Busch Gardens Tampa, St Pete-Clearwater International, and Takomah Trail Park.
Lowry Park
Average Rent
$1,349/Month
Year-Over-Year Rent Change
3.5%
Units Available
100 Rentals
When you’re looking for a great Tampa neighborhood on a budget, check out Lowry Park. The average rent is $1,349, compared to the city average of $1,640. Rent prices have decreased by 3.5%. Lowry Park is convenient to St Pete-Clearwater International, RETAIL & PROFESSIONAL CENTER, and USF Tampa.
Wellswood
Average Rent
$1,382/Month
Year-Over-Year Rent Change
2%
Units Available
48 Rentals
Wellswood is an affordable neighborhood in Tampa with an average rent price of $1,382. Compare this to the city average of $1,640. In the past year, rent prices have increased by 2%. Wellswood provides easy access to Hillsborough C.C., Dale Mabry, St Pete-Clearwater International, and The University of Tampa.
Armenia Gardens
Average Rent
$1,388/Month
Units Available
54 Rentals
If you’re looking for a great, affordable neighborhood in Tampa, Armenia Gardens might be the perfect place! It has an average rent price of $1,388, while the city’s average stands at $1,640. Armenia Gardens is near University of South Florida Botanical Gardens, Sun Valley Plaza, and Tampa International.
Tampa Palms
Average Rent
$1,394/Month
Year-Over-Year Rent Change
8.1%
Units Available
529 Rentals
Tampa Palms is a meticulously planned community with a mix of upscale and budget-friendly rentals. Its scenic landscapes include golf courses and nature preserves. This neighborhood is perfect for those seeking a peaceful environment coupled with easy access to urban conveniences.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.