Tampa vs Lima for First-Time Homebuyers (2026)
Scroll down for down payment requirements, savings timelines, and FAQ.
Full first-time buyer cost breakdown
| Metric | Tampa Florida | Lima Lima Province |
|---|---|---|
| Median home price | $380K | — |
| Price-to-income ratio | 6.3× | — |
| Down payment (20%) | $76,000 | — |
| Months to save down payment | 15 mo | — |
| Est. monthly mortgage (7%, 30yr) | $2,023 | — |
| Monthly utilities | $195 | $55Better |
| State income tax | NoneBetter | None |
| Sales tax (combined) | 7.5%Better | 18% |
| Overall COL index (100 = US avg) | 104 | 40Better |
Your biggest money opportunities based on this comparison.
New homeowner must-have
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Mortgages
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Home & Auto Insurance
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Frequently asked questions
Is Tampa or Lima better for first-time homebuyers?
Based on home prices, price-to-income ratios, taxes, and overall affordability, Lima scores better for first-time homebuyers. Lima is approximately 62% cheaper overall. The best choice depends on your career, savings timeline, and long-term plans.
What is the down payment needed to buy in Tampa vs Lima?
Down payment data is not available for one or both cities.
What would my mortgage be in Tampa vs Lima?
Mortgage estimate data is not available for one or both cities.
How long would it take to save for a down payment in Tampa?
Down payment savings timeline data is not available for one or both cities.
Which city has lower property and income taxes for homeowners?
Both Tampa and Lima have the same 0% state income tax rate. Property taxes vary by neighborhood — check local county assessor data for specific homes you're considering.
$75K in Tampa has the same purchasing power as $29K in Lima
Mortgage estimate assumes 20% down payment at 7% fixed rate, 30-year term. Actual rates vary. Down payment savings timeline assumes 15% of gross income saved monthly. Data: Zillow, BLS, Tax Foundation · Q1 2026