Cheapest Neighborhoods in Tampa, FL
Some of the cheapest neighborhoods in Tampa are University Square, Egypt Lake, and Forest Hills. These neighborhoods offer some of the lowest rent prices in Tampa, making them ideal for renters on a budget. As of June 25, 2026, the average rent in Tampa is $1,651, which is 2.1% 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.
University Square
Average Rent
$1,207/Month
Year-Over-Year Rent Change
2%
Units Available
338 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.
Egypt Lake
Average Rent
$1,211/Month
Year-Over-Year Rent Change
13.3%
Units Available
56 Rentals
When you’re looking for a great Tampa neighborhood on a budget, check out Egypt Lake. The average rent is $1,211, compared to the city average of $1,651. Rent prices have decreased by 13.3%. Egypt Lake is convenient to Skyconnect Passenger Terminal Station, The University of Tampa, and Skyconnect Rental Car Facility Station.
Forest Hills
Average Rent
$1,254/Month
Year-Over-Year Rent Change
4.1%
Units Available
25 Rentals
Forest Hills is an affordable neighborhood in Tampa with an average rent price of $1,254. Compare this to the city average of $1,651. In the past year, rent prices have decreased by 4.1%. Forest Hills provides easy access to Busch Gardens Tampa, Streetcar Society Station (#3), and Florida Avenue West.
Oak Grove
Average Rent
$1,273/Month
Year-Over-Year Rent Change
1.1%
Units Available
184 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
$1,282/Month
Year-Over-Year Rent Change
3.9%
Units Available
112 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 $1,282, while the city’s average stands at $1,651. In the last year, prices have decreased by 3.9%. Plaza Terrace is near Hillsborough C.C., Ybor City, Skyconnect Rental Car Facility Station, and Lowry Park Zoo.
Lowry Park
Average Rent
$1,284/Month
Year-Over-Year Rent Change
9.6%
Units Available
77 Rentals
Lowry Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Lowry Park is $1,284 while the city average is $1,651. This is a -9.6% difference from last year. Residents enjoy convenient access to Hillsborough C.C., Ybor City, Ybor City Museum State Park, and Centro Ybor Station (#2).
Armenia Gardens
Average Rent
$1,315/Month
Units Available
37 Rentals
When you’re looking for a great Tampa neighborhood on a budget, check out Armenia Gardens. The average rent is $1,315, compared to the city average of $1,651. Armenia Gardens is convenient to Hillsborough C.C., Dale Mabry, Cadrecha Plaza Station (#4), and Busch Gardens Tampa.
Northeast Community
Average Rent
$1,315/Month
Year-Over-Year Rent Change
0.1%
Units Available
56 Rentals
Northeast Community is an affordable neighborhood in Tampa with an average rent price of $1,315. Compare this to the city average of $1,651. In the past year, rent prices have increased by 0.1%. Northeast Community provides easy access to Southwest Florida Coll., Tampa, University of South Florida Botanical Gardens, and Temple Terrace Center.
Riverside
Average Rent
$1,386/Month
Year-Over-Year Rent Change
7.3%
Units Available
17 Rentals
If you’re looking for a great, affordable neighborhood in Tampa, Riverside might be the perfect place! It has an average rent price of $1,386, while the city’s average stands at $1,651. In the last year, prices have decreased by 7.3%. Riverside is near La Loma, Lowry Park Zoo, and Busch Gardens Tampa.
Wellswood
Average Rent
$1,401/Month
Year-Over-Year Rent Change
1.6%
Units Available
45 Rentals
Wellswood is a top choice for budget-conscious renters for a variety of reasons. The average rent in Wellswood is $1,401 while the city average is $1,651. This is a 1.6% difference from last year. Residents enjoy convenient access to Port Tampa Bay Station (#5), Streetcar Society Station (#3), and Lowry Park Zoo.
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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.