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Going back months, if not a few years, the Tampa region has been a staple on national best-of lists, from high-tech job growth to a place to start a new business to one of the best cities to own an investment property.
Yet area officials and business leaders would probably prefer to pass on one of the latest lists to include Tampa: top 10 cities where the cost of living is expected to soar in 2018. This latest list is from GoBankingRates, which analyzed the Bureau of Labor Statistics' Consumer Price Indexes in conjunction with Zillow's year-over-year median home value forecast and its year-over-year median rent forecast. The personal finance website analyzed data from 2014 to 2017.
Tampa ranked No. 9 on the list, which from Florida, also included Miami. “Home values are expected to continue rising at a high rate in Tampa, which is good news for people who already own a home there,” states the report. “But that's bad news for people looking to buy a home.”
Rent is also expected to increase in Tampa, as is the cost of consumer goods and services, the report adds.
Other cities on GoBankingRates' high projected cost of living increase list include Atlanta, Dallas-Fort Worth, Denver and Phoenix.
Taken statewide, at least in one example, the news remains dour: In a separate GoBankingRates study, Florida, the report states, is one of the “worst states for families to live a richer life.” The state's median household income is below the national average, the report adds, while its median home list prices are higher than most states
Forecast year-over-year change in home value: 2.92%
Forecast year-over-year change in rent: 2.27%
Consumer Price Index 2016-2017: 2.84%
Average CPI change 2014-2017: 1.22%
Source: GoBankingRates
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