Cost of Living in Temple Terrace, FL

With a cost of living index of 106, Temple Terrace, FL is somewhat more expensive than average. Living here is 6% more expensive than the national average and 4% below the Florida state average of 110. With a population of 26,922, Temple Terrace is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Temple Terrace's cost of living. The median monthly rent is $1,489 (13% above the US median of $1,319), and the median home value sits at $306,200 (0% below the national median of $304,900). At current prices, the median home costs roughly 4.7x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Temple Terrace is $65,756, which is 12% lower than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

Climate is another factor for anyone considering a move to Temple Terrace. The area sees an average annual temperature of 74.5°F, with summers averaging 84°F and winters around 64°F. Annual rainfall totals 49.5 inches spread over roughly 108 days.

Everyday prices in the Tampa-St. Petersburg-Clearwater, FL (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.