![]() ![]() The reason is that Florida is a tourist destination, and prices are somewhat hiked up. The Other Expenses: Child Care, going to restaurants, and visiting the hairdresser is slightly more expensive than the rest of the nation.On average, expect to spend about $200 a month on home insurance alone. Plus, there have been many cases of fraud -leading to high costs of insurance. Home Insurance: Because parts of Florida are prone to hurricanes, sinkholes, and flooding, home insurance is slightly more expensive than the national average.Homes in areas of crime tend to be a lot cheaper. In general, if you find a very cheap home, you first need to check out the crime rate. There are also many million-dollar homes in Florida. Homes, on average, cost about $250K, but of course, it also depends on your choice. For less than $1,000, you can get a decent 1-2 bedroom in a decent neighborhood. Housing: The cost of rentals in Florida is much cheaper than in many places in the US.Expect to pay between $150-$200 a month for your TV, phone, and Wifi. Florida has some of the highest charges for communication services like the phone, TV, internet, and other digital devices. Communications: If you are always on your smartphone or the PC, be prepared to pay for these services.However, if you love alcohol, there is a special tax on this beverage which averages 48 cents per gallon on beer. Fruits and vegetables are produced in Florida, and they are much cheaper than anywhere else. Cost of Groceries: For a family of four, the grocery bills in Florida can range from $75-$125 a week which is slightly lower than the national average.The reasons for high insurance is heavy traffic, numerous accidents, and fraud/ Expect to pay anywhere from $150-$200 a month for insuring a car in Florida. Car Insurance Rates: These are some of the highest in Florida.But on the negative side, Floridians pay high gas taxes, which are the 10th highest in the country. Gas: Gas prices in the state are lower by about 10 cents than the national average.Depending on which city you live in, you can purchase monthly public transport passes for $50-$150. The Cost of Transportation: This is fairly low, but on the other hand, very few people use public transportation.On the plus side, there is no winter, and hence there are no heating bills. The average monthly cost of electricity is about $126, which is higher than the national average. Most people in Florida need to use the AC for 6-9 months of the year. Utility Bills: Because Florida has very high temperatures and humidity, the use of an AC is a must otherwise, life can be very miserable.Access to healthcare is relatively easy as doctors and nurses are located in every part of the state. The average cost for healthcare in Florida is about $7100 per year, which is about $1,500 less than the national average. Healthcare: Florida is blessed with some of the best healthcare institutions in the nation, and more importantly, the healthcare system is affordable.The typical homeowner will pay anywhere from $2,000-$3,000 per year or about 1.2%-1.6% of the home’s total cost. Property Taxes: In Florida, these are very similar to the national average or slightly lower depending on where you live. ![]() But keep in mind that some counties may add a sales tax of 1-2% on certain products, but the good news is that the maximum tax is capped at 8%, which is far less than most other states. However, there is a state sales tax of 6%, but food, agricultural supplies, and medical items are excluded. Also to note, Florida does NOT impose a tax on pensions, retirement benefits, and retirees. This means that your paycheck will be bigger because no taxes are deducted. There’s No State Income Tax: There is no state income tax in Florida, and it is considered to be one of the lowest taxed states in the country. ![]() There are a few other things to factor in, though. The median home price in the state is $277,429, while the median wage is $51,908. Miami, Tampa, and Orlando tend to be more expensive than the hundreds of smaller towns across the state. The cost of living varies quite a bit depending on whether you live in one of the major cities. ![]() While it’s not as cheap as it used to be, it’s still fairly reasonable. These days, Florida is usually ranked about #29 in the United States in terms of cost of living. Living Cost in Florida – The Real Numbers What is the cost of living in Florida, and is it really worth it? That’s no longer true, but your cost of living dollars will still get you more in this state than they will in places like California, Colorado, Oregon, Washington, or even Arizona. Just a few years ago, Florida had one of the lowest costs of living in the entire country. ![]()
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