How Much Income to Buy a Home in Tampa Bay?

"How much do I need to make to buy here?" is one of the most common questions we get. There's no single number, but we can build an honest, illustrative estimate using today's Tampa Bay conditions. (This is a general example, not financial advice — a licensed lender gives you your real numbers.)

The example home

Let's use a home near the regional median — about $400,000 — with the 30-year fixed rate running in the 6.3%–6.8% range in 2026.

The monthly payment, roughly

• With 10% down (~$40,000), your loan is around $360,000. Principal and interest at ~6.5% lands near $2,275/month.
• Property taxes: budget roughly 1% of value or so per year, around $330–$370/month (varies by county and homestead status).
• Home insurance: a real Tampa Bay line item — plan for a few hundred dollars a month depending on the home, roof, and location.
• PMI may apply under 20% down, and HOA dues apply in many communities.

Add it up and an all-in monthly payment often lands somewhere around $3,100–$3,500 for a $400,000 home with 10% down.

Turning payment into income

Lenders generally like your housing payment to sit around 28%–31% of gross monthly income. Working backward from ~$3,100–$3,500/month, that points to roughly $115,000–$135,000 in household income to buy comfortably at the median — less with a bigger down payment or a lower-priced home, more with less down.