What Is The Cost Of Living In Florida?

What Is The Cost Of Living In Florida?

August 19, 2022 Off By Altaf

Before planning to move to Florida take a look over the cost of living in Florida. Florida is the flattest state located at the lowest high point in the United States. It is known for its beach resorts, nautical recreation, amusement parks, and sunny and warm climate. Here special attractions are Walt Disney World, the Kennedy Space Centre, and Miami Beach. Without taking too much time let’s start and know about the cost of living in Florida.   

What Is The Cost Of Living In Florida?

The cost of living in Florida is never fixed and changes with the passing years. The table will provide you with an average cost of living in Florida based on the US average of 100. An amount less than 100 means the lowest cost of living in Florida than the national average. And an amount greater than 100 means the cost of living in Florida per month is more than the national average. 

Cost Of Living ForFloridaUSA
Housing102.6100
Grocery102.8100
Transportation112.6100
Utilities101.3100
Health98100
Miscellaneous96.9100
Median Home Cost$294,900$291,700
OverAll102.8100

Note:  The cost of living is given above as per the year of 2019, now it may be changed. 

Home Rent 

 Rental costs and house prices have effectively dropped across the state of Florida, from 2020. Over the past year, the cost of living in Florida apartments has experienced record lows. To make it more clear, the table is given below with the approximate rental cost of 1 and 2-bedroom houses in the different cities in Florida, including the cost of living in Pensacola Florida.  

CityApprox 1 Bedroom RentApprox 2 Bedroom Rent
Pensacola$1700$2000
Orlando $1527$1815
Miami$2700$3600
Tampa$1484$1810

Food Cost 

The cost of living in different cities in Florida varies according to the cost of food. The state of Florida is known for its plethora of dining options. It is a verifiable foodie paradise. That being said, visiting these delicious restaurants can make a dent in your budget. The following approximate cost of dinner for two people will give you an idea about the cost of living in different cities in Florida including the cost of living in Orlando Florida

CityApprox Dinner For 2
Pensacola$45
Orlando $40
Miami $50
Tampa$45

Travel Cost 

In the state of Florida, a one-person can expect to pay $5113 in transportation costs annually. And a family of four members can expect to pay $13896 in transportation costs per year. 

Other Expenses 

The expenses in life do not stop at travel and food. There are so many other expenses. Let’s have a look over the other expenses.  

Health Care

 The cost of living per year is affordable because of the affordable health care costs. Also, it is very challenging to find a number that accurately represents healthcare costs in the state of Florida. A single adult’s annual healthcare costs are around 42792 and it is for a family of four members is $9249 annually.  

Utility Bills 

The average monthly utility bill across the state of Florida is $170.87 for basic utilities including, water, electricity, heating, cooling, gas, and garbage collection.  

Internet Bills 

The internet bills affect the cost of living in Florida for students because most students use the internet to complete their studies. The high-speed internet of 10 to 940 Mbps costs around $29.99 per month. 

 Fitness 

For your fitness, if you join a national gym chain, such as L.A. Fitness, 24-hour Fitness, or Planet fitness, you will likely catch a deal on your gym membership, with some pricing tiers starting as low as $10 per month. 

Entertainment 

For those looking for recreational opportunities, Florida is a state that is chock full of them. It is easy to run up your entertainment budget line if you are not too careful. Luckily, there are tons of free and paid entertainment options to choose from.  

Taxes

 One thing about moving to another state or city is that it can be challenging to pay the tax rate. Relax! In the state of Florida, the tax rates are lower than in some other states in the United States. Florida does not have a state income tax but a local sales tax rate is 6%.  

FAQ

How Much Money Do You Need To Live Comfortably In Florida?

In Florida, MIT says on average a single person needs to make a minimum of $30,825 a year before taxes in order to make a liveable wage. Here’s how the state average breaks down, according to the calculator: Single person: $30,825. Single adult, 1 child: $64,317.

Is It Expensive To Live In Florida?

In fact, the average cost of living in Florida is not even 1% higher than the national average, according to a Cost-of-Living Index. But there’s still a wide range—some Florida cities rank 8% lower to 18% higher in cost when compared to the average U.S. city. Find expert agents to help you buy your home in Florida.

How Much Does It Cost To Live In Florida For A Month?

The typical renter in Florida spends $1,128 a month on housing, $105 more than the $1,023 national median monthly rent. The monthly rent for a one-bedroom in the state is $925, while the typical rent for a unit with five or more bedrooms is $1,888.

Is Moving To Florida A Good Idea?

Goods and services, healthcare, and housing in Florida all fall below the national average. If you want to move to a Florida city with a low cost of living, consider Jacksonville, which falls 9 percent below the national average.

Get to know more such amazing facts by visiting here.

Conclusion 

Now you know what is the cost of living in Florida in detail. Knowing whether you can afford to live in the state of Florida is crucial. If you have built your budget and are sure that it is a move you can afford congrats! If you have a low budget then it is better for you to drop the idea of moving to Florida, because as I already told you that Florida is an expensive state to live in. So, this is all about the cost of living in Florida.

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