Living In St. Pete: 8 Reasons The Penny Hoarder Loves It
Discover the affordable charm, tax savings, and vibrant lifestyle that make St. Petersburg, Florida, a top spot for savvy savers.
Why We Love Living in St. Pete
St. Petersburg, Florida—affectionately known as St. Pete—stands out as a gem for those who crave sun-soaked beaches, cultural richness, and smart financial perks. As home to The Penny Hoarder, a leading personal finance media company founded by local Kyle Taylor, St. Pete embodies the perfect blend of affordability and excitement. No state income tax saves residents thousands annually, freeing up funds for enjoying the city’s vibrant lifestyle. This guide dives into the top reasons why Penny Hoarders adore calling St. Pete home, from money-saving tax benefits to world-class arts, outdoor adventures, and budget-friendly eats.
No State Income Tax
Florida is one of only seven U.S. states without a state income tax, a massive boon for earners at any level. For a household pulling in $75,000 yearly, this could mean $4,000–$6,000 saved compared to high-tax states like California or New York. Residents keep more of their paycheck for investments, travel, or debt payoff—core Penny Hoarder principles. Local entrepreneur Kyle Taylor, CEO of The Penny Hoarder, bootstrapped his company here since 2010, turning a debt-busting blog into a $37 million revenue powerhouse by 2017, crediting St. Pete’s business-friendly environment.
Beyond taxes, property taxes average 0.83%—lower than the national 1.1%—making homeownership accessible. Renters benefit too, with median one-bedroom rents around $1,800, competitive for a waterfront city. Combine this with no estate or inheritance tax, and Florida’s tax structure supports long-term wealth building. Pro tip: Use the 50/30/20 budgeting rule Taylor champions—50% needs, 30% wants, 20% savings—to maximize these advantages.
Local Arts and Culture
St. Pete’s cultural scene punches above its weight, offering free and low-cost immersion in art, history, and performance. The Dali Museum houses the world’s largest Salvador Dalí collection, with tickets at $29 for adults but free first Tuesdays and for kids under 12. Its iconic glass bubble architecture draws 2 million visitors yearly, yet locals enjoy member perks like unlimited entry for $90 annually.
The Morean Arts Center provides hands-on glassblowing ($85/session) and free galleries. Don’t miss the Chihuly Collection, showcasing Dale Chihuly’s vibrant glassworks for $19.95. First Fridays feature free street art walks downtown, blending murals, live music, and pop-up exhibits. The Museum of Fine Arts offers pay-what-you-wish Thursdays, covering global treasures from ancient Egypt to modern masters.
- Free events: St. Pete ArtWalk (first Fridays), monthly gallery hops.
- Affordable theater: FreeFall Theatre’s $20 rush tickets, American Stage’s community shows.
- Music hubs: Jannus Live ($15–$30 presales), beachfront concerts at St. Pete Pier.
This scene fosters creativity without draining wallets, aligning with Taylor’s vision of accessible financial wisdom.
Beaches and Outdoor Activities
St. Pete’s 35 miles of sugar-white beaches define its allure. St. Pete Beach and Pass-a-Grille offer free parking zones and calm Gulf waters ideal for swimming. Kayak rentals start at $25/hour, or join free full-moon paddleboard yoga. Fort De Soto Park ($5/vehicle) boasts historic forts, biking trails, and dog beaches—perfect for picnics under $10.
Cycling thrives on 40+ miles of Pinellas Trail, free to use with $12 daily rentals. Fishing piers charge $4–$6/day, yielding fresh catches for home cooks. Sunset cruises from $30/person provide dolphin-spotting without luxury prices. Year-round temps (average 73°F) enable hiking at Boyd Hill Nature Preserve ($3 entry), spotting gopher tortoises amid 250 acres.
| Activity | Location | Cost (per person) |
|---|---|---|
| Beach Day | St. Pete Beach | Free |
| Kayaking | Pass-a-Grille | $25/hr |
| Biking Trail | Pinellas Trail | Free/$12 rental |
| Fishing Pier | St. Pete Pier | $4–$6 |
These pursuits keep fitness costs low, supporting health savings long-term.
Affordable Dining Scene
St. Pete tempts with farm-to-table fare at wallet-friendly prices. The Hangar serves gourmet burgers ($12) and truffle fries in a plane hangar. Cassis offers French bistro classics like moules frites ($18) with happy hour $5 wines. Red Mesa Cantina delivers tacos ($4 each) and margaritas ($8) in a festive vibe.
Food halls like Armature Works (nearby Tampa Bay) feature $10–$15 plates from 17 vendors. Locals swear by Tavern in the Park‘s Sunday brunch ($25 unlimited mimosas). Seafood shines at The Dock, where grouper sandwiches cost $16 with bay views. For thrifty eats:
- Food trucks: Weekly markets, $8–$12 meals.
- Happy hours: 4–7 PM citywide, $5–$7 apps/drinks.
- Farmers markets: Saturday Downtown, $20 fresh produce hauls.
Average meal for two: $50–$70, far below Miami’s rates.
Year-Round Events and Festivals
St. Pete buzzes 365 days with free/cheap festivities. St. Pete Pride (June) fills streets with parades (free). Firestone Grand Prix (April) offers $10 grandstand seats for IndyCar racing. St. Pete Art Festival (November) showcases 200+ artists gratis outdoors.
Mangrove Music Festival at Weedon Island ($20) blends roots rock and nature. Holiday Night Circus at the Pier ($15) dazzles with acrobats. Weekly Saturday Morning Market draws 100 vendors for $5 bites and live tunes. Sports fans catch Rowdies soccer ($22 tickets) or Devil Rays baseball from $15 bleachers.
These events build community without big spends, echoing Taylor’s reader-engagement goals.
Proximity to Major Attractions
St. Pete’s location amplifies value. 30 minutes from Tampa Airport, flights are cheap (average $150 roundtrip). Orlando’s Disney/Universal: 1.5 hours ($100 gas roundtrip for families). Busch Gardens Tampa: 45 minutes, combo tickets $80.
Day trips to Clearwater Beach (20 minutes) or Tarpon Springs sponges (30 minutes) cost under $20 in gas. High-speed rail plans promise easier access. This setup means big fun on small budgets.
Strong Job Market and Business Growth
St. Pete’s economy thrives in healthcare (Johns Hopkins All Children’s), finance, and tech. Unemployment hovers at 3.2%, below national 4%. Median salary: $62,000, bolstered by no income tax. The Penny Hoarder’s success—Inc. 5000 #25 in 2016—highlights startup appeal. Remote work booms post-pandemic, drawing digital nomads to beachside co-working ($20/day).
Family-Friendly Environment
Top schools like Shorecrest Preparatory (A-rated) and 20+ A-rated publics shine. Parks abound: Azalea Park free playgrounds, family fishing. Low crime (safer than 60% U.S. cities) and pediatric hubs ensure peace of mind.
Frequently Asked Questions
What makes St. Pete affordable?
No state income tax saves thousands; rents and dining beat national averages.
Best free activities?
Beaches, ArtWalks, Pier concerts, Pinellas Trail biking.
Is St. Pete good for families?
Yes—excellent schools, safe parks, kid-friendly events.
Job prospects?
Strong in health/tech; low unemployment, growing startups.
Dining on a budget?
Food trucks, happy hours, markets keep meals under $15.
References
- Influencers: Kyle Taylor, CEO of The Penny Hoarder — St Pete Catalyst. 2023-approx. https://stpetecatalyst.com/influencers/kyle-taylor/
- Why We Love Living in St. Pete — The Penny Hoarder. 2023-approx. https://www.thepennyhoarder.com/save-money/love-living-st-pete/
- County Business Patterns — U.S. Census Bureau. 2024-06-12. https://www.census.gov/programs-surveys/cbp.html
- Florida Tax Handbook — Florida Department of Revenue. 2025-01-01. https://floridarevenue.com/taxes/taxesfees/Pages/handbook.aspx
- St. Petersburg Area Economic Summary — U.S. Bureau of Labor Statistics. 2025-12-01. https://www.bls.gov/regions/southeast/news-release/areaemployment_stpetersburg.htm
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