What Is Middle Class In Tampa Florida?

I guess that is how you define middle class. The median income for a family is just over $55,000 also known as the median household income which is not the same as the average household income. The individual median income is a little over $30,000. In Florida the current minimum wage is a surprising $11.00 an hour.

Tampa FL

Two Household Incomes Together

If there were two people working and living in the same house the combination of their incomes would equal the total household income. If both parties were making the minimum wage and working 40 hours per week they should average $54,760 per year which is actually above many of the household incomes in Tampa Bay.

Tampa Bay

Median Household Income

There is a difference between the median and the average. Median is typically used more often as it gives a fairer representation. If you list 100 people's incomes from highest to lowest the median would fall at #50. The average would depend on numerical extremes at the higher or lower end of the list. If one person made billions of dollars and everyone else made $11 per hour the average wage would represent between $99 and the top earner.

Median Household Income in Tampa Bay

You will have a tough time affording a home in most of the Tampa Bay area if your making $55k per year. You will likely want to focus your search on northern Tampa or potentially Brandon FL where it is more affordable. The median price of a traditional singe family home is now just under $500,000 in the city of Tampa FL.