Cost of Living in University CDP (Hillsborough County), FL

With a cost of living index of 84, University CDP (Hillsborough County), FL is a very affordable place to live. Living here is 16% cheaper than the national average and 26% below the Florida state average of 110. With a population of 48,868, University CDP (Hillsborough County) 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 University CDP (Hillsborough County)'s cost of living. The median monthly rent is $1,185 (10% below the US median of $1,319), and the median home value sits at $146,400 (52% below the national median of $304,900). At current prices, the median home costs roughly 4x the median household income — a moderately affordable ratio by today's standards.

The median household income in University CDP (Hillsborough County) is $36,483, which is 51% lower than the national median of $75,149. Residents spend roughly 39% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to University CDP (Hillsborough County). 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.