Newport News vs Tampa: Cost of Living Comparison
How does the cost of living in Newport News, Virginia compare to Tampa, Florida? Below is a side-by-side breakdown of housing costs, income, wages, and taxes using official government data.
Summary: Newport News is the more affordable city overall. Housing costs are 30% lower in Newport News compared to Tampa, while rent is 15% lower. FL has no state income tax.
| Metric | Newport News, VA | Tampa, FL | Diff |
|---|---|---|---|
| Housing | |||
| Median Home Value | $233,400 | $333,200 | -30.0% |
| Median Monthly Rent | $1,209 | $1,422 | -15.0% |
| Income | |||
| Median Household Income | $63,355 | $66,802 | -5.2% |
| Per Capita Income | $36,135 | $45,586 | -20.7% |
| Taxes | |||
| State Income Tax Rate | 5.8% | None | same |
| Combined Sales Tax | 5.8% | 7.0% | -18.0% |
| Demographics | |||
| Population | 185,118 | 388,768 | -52.4% |
Source: U.S. Census Bureau ACS 5-Year Estimates (2022), Freddie Mac Primary Mortgage Market Survey. State/local tax rates from Tax Foundation (2024).
Rent vs. Buy Calculator — Newport News
Default home price from Census ACS median. Mortgage rate: 6.38% (Freddie Mac PMMS, March 2026). Property tax est. 1.1%, insurance est. 0.35% of home value annually.
Rent vs. Buy Calculator — Tampa
Default home price from Census ACS median. Mortgage rate: 6.38% (Freddie Mac PMMS, March 2026). Property tax est. 1.1%, insurance est. 0.35% of home value annually.
Key Takeaways
- Housing: The median home in Newport News costs $233,400 compared to $333,200 in Tampa — a 30% discount.
- Rent: Median rent is $1,209/mo in Newport News vs $1,422/mo in Tampa.
- Income: Median household income is $63,355 in Newport News and $66,802 in Tampa.
- Taxes: Florida has no state income tax, while Virginia has a 5.75% rate.
Methodology
This comparison uses data from the U.S. Census Bureau American Community Survey 5-Year Estimates (2022) for median household income, median home value, median gross rent, per capita income, and population. State and local tax rates are sourced from the Tax Foundation. Mortgage rates are from the Freddie Mac Primary Mortgage Market Survey (updated weekly).