5 Best Affordable Neighborhoods for Renters in Tampa, FL

If you’re considering a move to Tampa, FL, you’re not alone. This lively city has become one of Florida’s top destinations for renters seeking sunshine, culture and opportunity — without breaking the bank. While Tampa has seen a rise in popularity, it still offers some of the best affordable neighborhoods in the state. Compared to the rest of Florida, Tampa’s cost of living is about 4% lower. It’s also 2% lower than the national average, which makes it a smart choice for renters looking for a budget-friendly lifestyle.

Moreover, there are also plenty of budget-friendly neighborhoods in Tampa that offer great value. Clearly, whether you’re looking for a quiet residential feel or easy access to downtown, there’s something here for everyone:

• Temple Crest
• Plaza Terrace
• Fair Oaks-Manhattan Manor
• Lowry Park Central
• Tampa Palms

Let’s dive into the five best affordable neighborhoods in Tampa, FL, that renters should keep an eye on.

Temple Crest

Average rent as of May 2025: $1,242

If you’re looking for one of the most affordable neighborhoods in Tampa, Temple Crest should be at the top of your list. With an average rent of just $1,242, this area offers unbeatable value. Located near the Hillsborough River and close to Busch Gardens, Temple Crest has a laidback, residential vibe with plenty of green space.

Here, renters can find a mix of older apartment complexes and duplex homes with charm and character. The neighborhood is also just a short drive to the University of South Florida, making it ideal for students and young professionals alike.

Plaza Terrace

Average rent as of May 2025: $1,482

Plaza Terrace is another budget-friendly neighborhood that balances affordability with convenience. Average rent here is about $1,482, which is still below many of Tampa’s more expensive areas. It’s also centrally located with quick access to major roads, like I-275 and Dale Mabry Highway, making commuting simple.

Notably, renters love the proximity to shopping centers, local restaurants and public parks. Apartments here are generally well-maintained, and the area has a safe, suburban feel. If you want comfort without high rent, Plaza Terrace is a solid choice.

Fair Oaks-Manhattan Manor

Average rent as of May 2025: $1,534

This neighborhood might have a slightly higher average rent at $1,534, but it still ranks among the best affordable neighborhoods in Tampa thanks to its central location and quality of life. Plus, Fair Oaks-Manhattan Manor is in South Tampa, which gives you quick access to both downtown and Tampa Bay.

Many apartment buildings in this area come with modern amenities, like pools, on-site laundry and fitness centers. At the same time, the tree-lined streets and nearby schools make it popular with families and professionals. It’s a hidden gem that delivers great value.

Lowry Park Central

Average rent as of May 2025: $1,608

Lowry Park Central is one of those neighborhoods that feels like it should cost more than it does. With an average rent of $1,608, it’s still considered a budget-friendly neighborhood by Tampa standards. The big draw here is Lowry Park Zoo, one of the city’s most beloved attractions.

Residents also enjoy access to scenic parks, trails and the Hillsborough River. The community has a mix of apartment complexes and single-family homes for rent. As such, it’s perfect for renters who love the outdoors, but who still want to be within reach of city amenities.

Tampa Palms

Average rent as of May 2025: $1,813

Tampa Palms may be the most expensive neighborhood on this list, but it’s nevertheless one of the best affordable neighborhoods in Tampa when you consider everything it offers. With an average rent of $1,813, you’re getting access to a well-planned, upscale community.

Located in New Tampa, this area features manicured streets, golf courses, lakes and plenty of green space. It’s ideal for renters looking for a peaceful, suburban lifestyle with the convenience of nearby shopping, dining and schools. Apartments in Tampa Palms often come with luxury features and community amenities like gyms and clubhouses.

Finding the right place to live doesn’t have to mean stretching your budget thin. Whether you want riverside peace in Temple Crest or a well-connected suburb like Plaza Terrace, Tampa offers a variety of affordable neighborhoods that cater to different lifestyles. In any case, these budget-friendly neighborhoods prove that you can enjoy city life without paying big-city prices.

Or, if you’re searching for affordable housing in other cities, check out our insights on Hartford, CT; Houston, TX; or Jersey City, NJ.