A City With One Of Florida's Prettiest Downtowns Has Costs Below The National Average
Tarpon Springs, FL, located in the Tampa Bay region, in Pinellas County, is a coastal city with a history going back to the 1800s, making it the oldest town in the county. It also happens to be located in one of several states without any income tax, which helps protect the income of residents — although Pinellas County does levy a 7% sales tax. With that said, there are potential tax benefits for homeowners who make their home in the state their primary residence. Plus, the utilities industry is one of the highest earning industries in the city, and just under half the population is employed in health care, among other industries.
According to the Tarpon Springs Chamber of Commerce, working age households with families earn a median household income of $38,251. Transportation, made easier by a rail road, and the construction of the Anclote Key Lighthouse, helped raise the economic potential of Tarpon Springs. Wealthy folks from northern cities, fishermen, and entrepreneurial Greek immigrants who dove for ocean sponges, helped drive a local economy that continues today. Shops on the highly walkable Dodecanese Boulevard continue to sell sponges — with a frequency that helped earn the city the title of sponge capital of the world. With that said, housing, healthcare, and utilities are always factors in a city's cost of living, and it makes sense to compare these costs against state and national averages to get a sense of how affordable Tarpon Springs actually is.
What it costs to put a roof over your head in Tarpon Springs
According to the Federal Reserve Bank of St. Louis, the median listing price of a home in the state of Florida, as of May 2025, was $439,999, which was $10,001 lower than the median listing price in May 2024. In comparison, per the United States Census Bureau, the median sales price of the 623,000 new homes sold during this period was $426,600 — up from the May 2024 median of $414,300. So, while buying a house in Florida can cost you more than the national median, the national median has increased as the price of homes in Florida has gone down. By comparison, per Zillow, the average value of a home in Tarpon Springs, as of May 2025, was $407,082, representing a discount from both the national and state median prices, and a 7.2% discount from the previous year.
Renting is another option. According to Zillow, the average rent across the U.S., as of July 2025, was $2,100 per month. In Florida, the average rental costs $2,437 per month, or $337 higher than the national average. By comparison, renting in Tarpon Springs is in line with the national average, at $2,100, which is actually a discount compared to the rest of the state
Healthcare costs and savings
Per a 2025 MoneyGeek study, the average cost of health insurance in the U.S. is $539 per month or $6,468 per year, not including any subsidies. Aside from free healthcare benefits provided by Medicare, or other cost-lowering subsidies, the size of your household, the tier you pay for, your provider, and your age, can all raise or lower what you actually end up paying. The cost of healthcare is also rising due to the country's growing aging population, who are generally in need of more care. Florida, while not the most expensive state for healthcare, still has higher costs than the national average at $591 per month, or $7,096 per year. That said, the average maximum out-of-pocket cost of healthcare in Florida — not covered by insurance — is $4,839 per year, or the equivalent of just over $403 per month.
By comparison, according to Conniehealth, the average maximum out-of-pocket cost of healthcare in Tarpon Springs for those with a Medicare Advantage Plan is $4,604.24 per year. This plan is popular, with 60.66% of Medicare beneficiaries in Tarpon Springs enrolled. As per the National Council on Aging, the average standard deductible for Part D plan prescriptions in 2025 is $590 per year, while Part D plans in Tarpon Springs have an average annual prescription deductible of $213.72.
Utility costs are hit or miss
As per EnergySage, the average household in Tarpon Springs spends around $320 per month on electricity. A June 2023 Pinellas County study projected a combined 2025 water and sewage bill of $94 — $33.96 for water and $60.05 for sewage — and Natural Gas Limited placed natural gas costs at $31.12 per thousand cubic feet, as of October 2024. As per Payscale, phone service runs an average of $197.44 per month, while internet and cable, according to My Pinellas Real Estate, averages anywhere between $65 to $140 per month.
A November 2024 Move.org study calculated the national monthly average for electricity was $136.84, $47 for water, $65 for sewage, $66 for phone, with internet and streaming costing $77 and $59, respectively. As per the U.S. Energy Information Administration, the national residential average for natural gas, as of April 2025, was $14.69 price per thousand cubic feet. When compared to national and local averages, Tarpon Springs is on par, below, and even significantly higher than the national average — like electricity and natural gas — depending on the utility. Depending on your budget, this might balance costs out, or be a deal breaker.