Cost of Living: Tampa, FL vs Elizabeth, NJ (2026)

Tampa

Florida
113
VS

Elizabeth

New Jersey
112

Tampa and Elizabeth have a similar cost of living.

$1,567/mo ↑ 7%
Median Rent
$1,463/mo ↓ 7%
$71,302/yr ↑ 12%
Median Income
$63,874/yr ↓ 10%
$375,300 ↓ 5%
Home Value
$393,500 ↑ 5%
$1,553/mo ≈ Same
Owner Costs
$1,543/mo ≈ Same
393,389
Population
135,887

Tax Comparison

0%
Income Tax
10.75%
6.0%
State Sales Tax
6.625%
0.86%
Property Tax
2.23%

Affordability

26.4%
rent-to-income
Affordability
27.5%
rent-to-income

Detailed Comparison

When comparing Tampa, FL and Elizabeth, NJ, the overall cost of living indices are 113 and 112 respectively (national median = 100). Rent is $104/month cheaper in Elizabeth, saving renters about $1,248/year.

Median household income is $7,428/year higher in Tampa. Home values also differ significantly — the median in Tampa is $375,300 compared to $393,500 in Elizabeth.

Florida has no state income tax, giving Tampa residents a significant tax advantage over New Jersey's 10.75% rate.

Frequently Asked Questions

Tampa vs Elizabeth — common questions

Is Tampa or Elizabeth cheaper to live in?
Based on our cost index, Elizabeth is cheaper to live in with an index of 112 compared to 113 (US average = 100).
What is the rent difference between Tampa and Elizabeth?
Median rent in Tampa is $1,567/month and in Elizabeth it's $1,463/month — a difference of $104/month.
Which city has higher income, Tampa or Elizabeth?
Median household income is $71,302 in Tampa and $63,874 in Elizabeth. Median household income is $7,428/year higher in Tampa.
How do taxes compare between Florida and New Jersey?
Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax. New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax.
Should I move to Tampa or Elizabeth?
It depends on your priorities. Tampa has a cost index of 113 with median rent of $1,567/mo, while Elizabeth has a cost index of 112 with rent of $1,463/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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