Tampa Bay Region Overview
The Tampa Bay region includes the eight counties of Citrus, Hernando, Hillsborough, Manatee, Pasco, Pinellas, Polk, and Sarasota.
GEOGRAPHY
The Tampa Bay region comprises four Metropolitan Statistical Areas (MSAs):
- Tampa-St. Petersburg-Clearwater: Encompassing Hernando, Hillsborough, Pasco, and Pinellas counties, it is the 18th largest metro area in the country.
- Homosassa Springs: Covering Citrus County.
- Lakeland-Winter Haven: Encompassing Polk County.
- North Port-Sarasota-Bradenton: Including Manatee and Sarasota counties.
When we combine county-level or MSA-level data to create a regional value, we weight the component values by appropriate factors such as population or number of households. Generally, the regional value closely aligns with that of the Tampa-St. Petersburg-Clearwater MSA.
POPULATION
Nearly 5 million people reside in the Tampa Bay region. Since 2010, the region has welcomed over 740,000 new residents, marking a 17.5% increase. Rapid population growth is expected to continue, with projections indicating that Tampa Bay will grow at nearly twice the rate of the national average over the next five years. By 2026, the population is estimated to exceed 5.3 million. Manatee County is anticipated to have the fastest growth rate at 10.3%, while Pinellas County is expected to have the slowest at 3.3%.
DIVERSITY
Diversity in Tampa Bay is typically described by race (e.g., Black, White) and ethnicity (Hispanic or non-Hispanic). The region’s racial diversity is generally less than both the state and national averages. Tampa Bay’s Hispanic population, at 20.5%, is closer to the U.S. average (18.9%) than Florida’s (27.4%). Hillsborough County is the most diverse, while Citrus County is the least.
AGE
With a median age of 45.2, Tampa Bay residents are older than the averages for Florida (42.8) and the U.S. (38.8). Hillsborough County has the lowest median age in the region at 37.6, and Citrus County has the highest at 58.8.
HOUSEHOLD INCOME
Tampa Bay’s median household income is $62,819, which is comparable to Florida’s median of $63,062 but below the U.S. average of $69,717. Sarasota County boasts the highest median household income in the region at $71,761, while Citrus County has the lowest at $47,197.
EMPLOYMENT
The largest employment sectors in Tampa Bay are healthcare, retail, and hospitality. However, professional services, construction, manufacturing, and finance and insurance are becoming increasingly significant. Office and administrative support, sales, and food service positions account for 35.3% of total employment, although this share is declining as jobs in logistics, business and financial operations, and management are on the rise.
Sources:
- ESRI Business Analyst, 2021
- U.S. Census Bureau, American Community Survey, 2021 1-Year Estimates
- Bureau of Labor Statistics, 2020 Quarterly Census of Employment and Wages
- Bureau of Labor Statistics, 2020 Occupational Estimates Series
