Tampa, FL, Investor Yield Index
At standard terms, a median Tampa rental does not cash-flow today. It scores 43/100, grade B, and ranks #4 of 18 tracked metros.
The Tampa-St. Petersburg median runs $361,156 against rent near $2,020/mo. At a 6.69% loan that works out to a 0.69 DSCR and -6.34% cash-on-cash, short of the 1.2 lender minimum.
Price and rent are the mid-tier median from Zillow Research. The 6.69% 30-year rate is Freddie Mac PMMS as of 2026-08-06. Neither is a lender quote, so run your real numbers below.
Index 43/100 · rank #4
Cap rate
Gross yield
Median price
DSCR
Cash-on-cash
Monthly rent
GRM
The same metro at the starter price band
The figures above use the mid-tier median, the middle third of Tampa-St. Petersburg by value. Most cash-flow buyers shop the bottom third instead, where the same rent is carried by a much smaller mortgage. Both bands come from Zillow Research.
| Price band | Price | Cap rate | DSCR | Cash-on-cash | Monthly cash flow |
|---|---|---|---|---|---|
| Mid-tier median | $361,156 | 4.03% | 0.69 | -6.34% | -$534 |
| Entry tier, bottom third | $236,247 | 6.16% | 1.06 | 1.27% | $70 |
Moving from the median to the starter band changes the DSCR by 0.37. One caveat worth stating plainly. The rent figure used here is the metro-wide index, not an entry-band rent, so the entry-tier row pairs metro rent with a bottom-third price. Real starter-band rents run lower, which makes that row an upper bound rather than a forecast.
Property tax and vacancy in the Tampa metro
Price and rent come from two Zillow series. Neither one carries the tax bill, and neither counts the months a unit sits empty. Those are the lines that decide whether the rent actually covers a loan payment, and they're set by the county, not the metro.
Hillsborough County effective rate
Median tax $3,010 over median value $371,500
Tax on the median price
a year at $361,156, or $1,914 at the entry band
Share of the expense allowance
of the 40% allowance, $9,696 a year
Rental vacancy
worth $1,852 of rent a year
Every county in the metro
Same metro, same rent index, a materially different bill. The rate runs from 0.673% in Hernando County to 0.810% in Hillsborough County. On a $361,156 house that gap is about $495 a year. Choosing a county here is choosing a tax rate.
| County | Population | Median tax | Median value | Effective rate | Rental vacancy | Renter share |
|---|---|---|---|---|---|---|
| Hillsborough CountyPrincipal | 1,522,748 | $3,010 | $371,500 | 0.810% | 7.64% | 38.5% |
| Pinellas County | 963,481 | $2,474 | $355,100 | 0.697% | 11.00% | 30.5% |
| Pasco County | 611,444 | $2,206 | $300,900 | 0.733% | 5.75% | 24.3% |
| Hernando County | 207,018 | $1,858 | $276,000 | 0.673% | 8.20% | 17.5% |
County figures come from the U.S. Census Bureau, American Community Survey 2024 5-Year Estimates, table-based Summary File, 2024 5-year estimates, 2020 to 2024 pooled, tables B25103, B25077, B25004, B25003, B01003. The effective rate divides one county median by another over the same set of owner-occupied homes, so it approximates the county rate. It isn't a millage, and your own assessment can land either side of it. A five-year estimate also lags the Zillow price it's applied to, and county coverage is what you get in exchange.
Run the numbers on a Tampa deal
Pre-filled with Tampa medians. Adjust price, rent, and rate to your actual deal.
Assumptions: 25% down + 3% closing costs, 40% opex/vacancy load 30-year amortization. Lenders typically require DSCR ≥ 1.2. Estimates, not a quote.
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Common questions about Tampa
Is Tampa, FL a good market for rental investors in 2026?
On the Investor Yield Index it scores 43/100 (grade B), ranking #4 of 18 tracked metros. The median price is $361,156 with rent around $2,020/mo, producing an estimated 4.03% cap rate and 0.69 DSCR at a 6.69% financing rate. At today's rates none of the 18 tracked metros clear the 1.2 DSCR line on default terms, so the score is best read as where Tampa stands relative to other markets.
What is the cap rate in Tampa?
The model estimates a 4.03% cap rate at the median price-to-rent ratio, assuming a 40% operating-expense load. Your actual cap rate depends on the specific property and expenses.
Will a rental in Tampa qualify for a DSCR loan?
It’s tight. The estimated DSCR of 0.69 is below the typical 1.2 minimum at 6.69%; a larger down payment or rate buydown may be needed to qualify.
Markets ranked near Tampa
The closest metros above and below Tampa on the index, plus the top markets for comparison.
Chicago, IL
Memphis, TN
Cleveland, OH
Birmingham, AL
Houston, TX
Indianapolis, IN
Orlando, FL
How these numbers are built
- Assumptions
- 25% down, 3% closing costs, a 40% operating-expense load, 30-year amortization, and a 6.69% loan rate.
- DSCR
- Net operating income divided by annual debt service. Lenders typically want at least 1.2.
- Index weights
- Cap rate 30%, gross yield 20%, DSCR 30%, cash-on-cash 20%, each normalized to 0-100 first.
- Sources
- Mid-tier median price and rent from Zillow Research, covering 18 metros. Mortgage rate from Freddie Mac PMMS, 2026-08-06.
These are model estimates for relative comparison between markets. They are not lender quotes, appraisals, or investment advice.