MIn 2014, Florida passed New York to become the third most populated state behind California and Texas. In the years following, this growth hasn’t slowed. As of November 2020, Florida is expected to gain more than 300,000 new residents each year and have a population of 23 million by 2025.
Along with the thousands of new residents, Florida also welcomes millions of tourists each year. Its seemingly endless beaches and attractions like Disney and the Kennedy Space Center make it a paradise for adults and a unique place to raise a family.
Agents Compete, You Win.
However, the growing population density affects the prices of homes and job opportunities. Learn more about the cost of living in Florida and how you can live there affordably.
How much do you need to live comfortably in Florida?
As a whole, the cost of living in Florida isn’t much higher than in the rest of the country. According to McKinsey, the median home cost in the United States is $231,200 but $237,000 in Florida.
The current minimum wage in Florida is $8.56, slightly higher than the federal minimum wage of $7.25. Economists estimate that Floridians need to earn at least $15.60 per hour to enjoy a living wage and comfortable lifestyle. This is an average salary of $32,448 per year.
These calculations are based on the expenses of a single adult, which increase as you add dependents like older relatives and children. The necessary living wage for a single adult with one child is $32.23 per hour ($65,000 per year). The added necessities of food, childcare, education, and other child-rearing expenses drive up the costs of living.
Is it expensive to live in Florida?
One thing to remember is that Florida has multiple cities and several diverse populations. The home costs in Miami and Orlando will be much higher than similar listings found in Tallahassee or Ocala. While one city might be out of your price range, there might be an area nearby that works with your budget.
Salary.com has a cost of living calculator you can use to determine whether you can afford to live in certain areas. For example, Jacksonville is seven percent more affordable than the national average. Miami and Fort Lauderdale are 11 percent more expensive.
One thing that contributes to the low cost of living in Florida is the tax rate. Florida is one of the lowest taxed states in the country, with no state tax and moderate property taxes. However, your tax savings might go into home insurance costs, which can be higher than normal in the hurricane-prone state.
What is the cheapest place to live in Florida?
There are plenty of places to live in Florida that have a lower cost of living than Miami. You can also enjoy several towns farther inland from the beaches — where you won’t be required to have flood insurance and your property taxes might be lower. A few of the cheapest places in Florida include:
Kissimmee: located just outside of Orlando, Kissimmee provides access to the theme parks without the price. Homes start in the low $100,000s and there are new properties built each year.
Cape Coral: this city is located just outside of Fort Myers and two hours south of Tampa. The median home price is $180,000 and there are more than 400 canals for you to find your dream waterfront property. With the money you save by moving here, you can buy a boat or enjoy weekend trips to Key West via the nearby ferry terminal.
Gainesville: this city is home to the University of Florida and located in the central part of the state. The college-town vibes keep home prices low and its placement in the state allows residents to easily visit beaches, theme parks, or the nearby springs. Grab your snorkel and float alongside a manatee in the crystal clear waters.
If you are planning to move to Florida, start your home search in your ideal part of the state. Then branch out to nearby towns and counties that could offer a more affordable lifestyle for your goals.
How can I find affordable homes in Florida?
If the cost of living in Florida seems out of your price range, you may be able to find housing in the state without going over budget. Follow these tips to find an affordable home that you and your family will love.
Don’t let attractions dictate your home search. Countless people move to the beaches or within a few miles of Disney each year. However, you don’t need to be right next to these icons to visit them. Even moving half an hour away from the theme parks or resorts can help you find reasonable home prices.
Look outside of the major cities. You may be happier living farther away from Orlando, Miami, and other downtown areas. For example, Lakeland is located an hour outside of Orlando and is halfway to the cost. The homes are more affordable and you can access the theme parks and beaches in the same driving time.
Shop for townhomes and condos. Instead of a single-family home, look for community living in the form of townhomes and condos. You might be able to save on repair and maintenance costs that are covered by the homeowner’s association, though you will have to pay monthly HOA fees.
Don’t expect to find basem*nts or attics. Many houses in Florida are ranch-style homes or one-story block buildings. They also rarely have attics or basem*nts. Basem*nts can flood if a hurricane comes through, while attics drive up the air conditioning costs. You can save money by looking at single-story homes with sheds and garage storage instead.
Many cities in Florida also have some of the longest (and least enjoyable) commute times in the country. You can save money on gas and automobile wear by buying a home closer to your work. This might also lower your cost of living in Florida if your job is farther away from the highly populated tourist spots.
Agents Compete, You Win.
Use UpNest to Make Moving Easy
You don’t have to be an expert in the different cities in Florida to move to the state. A good real estate agent should be able to help you find the right area for your lifestyle. They can also evaluate your budget and help you set realistic goals for home buying.
Check out the Realtors at UpNest, which is owned by parent company Realtor.com, to find professionals in your area. You can compare agents and ask questions to find the best person out there. They can assist with the move so you spend less time worrying and more time picking out your beach attire.
UpNest is a no-cost service for home sellers and buyers to find the best real estate agents locally. The UpNest platform allows you to compare multiple agents in your area so you can compare reviews, commission rates, previous sales, and more.
Our network agents have been carefully vetted and often offer competitive, lower than averagecommission rates to UpNest customers. There is no obligation to sign up with one of our network Realtors, but when you can potentially save thousands on commission – why wouldn’t you? If you’re ready to get started, just enter your zipcode below!
Is it worth moving to Florida?
From the lack of state income tax to the sunny weather, there are plenty of reasons to love calling Florida home. Its diverse population, delectable food and many theme parks and attractions also make it a particularly interesting place to live. Here are 10 reasons why you should consider moving to Florida today.
How much do you need to move to Florida?
Unless this is your first time moving house, you know that packing and moving your belongings takes time, patience, and money. The average cost of moving from New York to Florida isbetween $1,700 and $3,000. Moving in the offseason will help lower your costs.
The cost of living in Florida is 1% higher than the national average. Housing is 4% higher than the national average, while utilities are 1% higher. When it comes to basic necessities such as food and clothing, groceries are around 2% lower than in the rest of the country, while clothing costs 2% lower.
Is it expensive to live in Florida? Though the state has long had a reputation for being an inexpensive place to live, housing costs are high. Rents and sale prices are both well above national averages. However, the overall cost of living in the state is about on par with the national average.
The cost of living in Florida is $1,832 per person per month, inclusive of rent. Without rent, a livable wage would be $705 per month. The cost of living index considers the price of food, healthcare, transportation, gas, electricity, and other expenses.
How Much Money Do You Need to Move to Florida? On average, it costs $3,000–7,000 to move out of state. Of course, the real cost to move really depends on how much stuff you're moving and how far away you currently live from your destination.
Low income describes a family at or below 80% of area median income. Moderate income describes a family at or be- low 120% of area median income (at or below 100% of median income for federal programs).
The other reasons that people leave the state after moving here are varied: “A nearly 14,000-member Facebook group for people moving out of Florida has cited severe weather, low wages, crowded beaches, changing politics, and steep housing prices as reasons people left.”
If you are looking for a place to spend your golden years, look no further. Florida was ranked the second-best state to retire to in 2022, due primarily to low taxes and great weather.
The bottom line is Florida is a far less expensive state to live in than California because it has less expensive homes, lower sales tax on things you buy, and lower income taxes on money you earn.
The package offered with Ascend West Virginia is valued at $20,000 total. Like other programs, you'll have to meet some requirements to apply for Ascend WV: 18 years of age or older.
Florida's official nickname is “The Sunshine State,” but it may as well be “The Low-Tax State.” That's because Florida is the only state east of the Mississippi that doesn't collect income taxes of any kind. The state does charge a sales tax rate of 6% though, and most counties charge sales taxes of their own.
As a state, Florida's middle-class income ranged from $42,252 to $126,124, with a median household income of $63,062. Here is how that compares to other states nearby: Georgia: $44,595 - $133,118; medium household income, $66,559.
The average salary in Florida is $55,070 per year or $26.48 per hour. Entry level positions start at $33,667 per year while most experienced workers make up to $137,680 per year.
Floridahousingsearch.org is a free, online affordable housing locator service that makes it easier to find affordable rental housing around the State. This locator is part of Florida Housing's ongoing effort to respond to housing needs in general and specifically during natural disasters.
The Florida Section 8 Housing Voucher Program is part of a federally-funded program that helps lower-income, disabled and elderly residents get affordable housing in the state.
To qualify for food stamps in Florida, your gross monthly income must be less than or equal to 200% of Federal Poverty Level (FPL). This number varies depending on the size of your household. For one person, 200% of FPL equals $2,266. For a family of four, that number is $4,626 for 2023.
Cape Coral has cheaper housing costs, utility bills, and healthcare costs than the national average. With an average home price of just over $4,30,000, this city on the Gulf Coast is a great option for those looking for affordable living in Florida.
No state income tax in Florida, cheaper real estate and the weather are the top reasons broker Melissa Cantway said people are still moving here. "A property that you would buy here for $500,000 might cost $4 million in New York City," Cantway said.
Albuquerque, New Mexico, ranks as the most affordable city in the country for single renters. Studio apartments in Albuquerque go for a median price of $700, and the average single person would only need to spend 15.33% of their income to afford one.
According to several studies on cost of living, Hawaii is the most expensive U.S. state to live in. Prices are typically double in Hawaii compared to those on the mainland, and the continued rise in inflation is making costs ranging from housing to health care much more expensive.
In its report, Niche also ranked the cheapest places to live in the U.S. At the top of the list this year is Brownsville, Texas. Brownsville has been steadily rising in Niche's Lowest Cost of Living ranking over the past few years, placing number six in 2021, number three in 2022 and finally, number one in 2023.
What States Are Americans Moving To? The most popular state people moved to in 2022 was Florida, while the state people most often moved from was California. Texas was the second-most popular state for Americans on the move, while North Carolina came in third.
The most pleasant time to move in Florida is between mid-December and early March when the weather is nearly perfect. There are a few hot weeks sprinkled in here and there, but overall the weather is ideal for moving.
Florida does not have a state property tax. Only the county governments levy a property tax, which make up the majority of the county budgets. The average annual property tax rate is 0.86% for homeowners, which makes Florida's property tax rates the 25th lowest in the nation.
There are various reasons why people are moving to Florida. The most common ones include warm weather, affordable cost of living, and job opportunities. Additionally, many people are reevaluating their living situations and considering moving to areas with more space and outdoor activities.
In that regard, older Californians are just following an old and well-trodden path: With its low sales tax and no state personal income tax, cheaper housing and all-around lower cost of living, Florida has been a magnet for older Americans going back a century or more.
Not only is Texas 8% cheaper than Florida overall, but housing, utilities and groceries all cost significantly less in the Lone Star State. (Utility costs in the two states are about equal.) Overall, living in Texas is more affordable than living in Florida.
In 2021, about 1.75 million people worked in the trade, transportation, and utilities industry in Florida -- the most out of any industry. The total nonfarm payroll employment stood at 8.96 million people.
Florida doesn't pay you to move there, per se, but if you live and pay taxes in Florida, you won't owe state income tax. Depending on where you're coming from, the savings can be significant.
Alabama. Next up: The Shoals in Northwest Alabama. The Remote Shoals program pays you up to $10,000 to move to and work from The Shoals. You'll receive 25% of the total amount up front to cover moving costs, another 25% after your first six months, and then the remaining 50% after your first year living there.
If you own property in Florida, that property is assessed annually by the county property appraiser. This assessment determines the amount of ad valorem taxes owed each year on your property. Ad valorem or property taxes are collected annually by the county tax collector.
Florida is very tax-friendly toward retirees. Social Security income is not taxed. Withdrawals from retirement accounts are not taxed. Wages are taxed at normal rates, and your marginal state tax rate is 0.0%.
Despite ranking ninth in affordability, Florida came in at No.4 for quality of life. Residents of the Sunshine State bear the sixth-lowest tax burden in the country, according to WalletHub, but Florida's cost of living has steadily risen over the past few years.
$50k is pretty good. It really depends on location. Just like any state there is a broad range of population density from ultra urban, like Miami with pockets of the ultra rich like Palm Beach or Marco Island to the ultra rural like the ranches scattered across the middle of the state.
In the abstract, as a single person you could probably live alone off of $20 as a full time hourly wage with an modest studio apartment, using public transportation or having a modest and paid for car, and avoiding much entertainment or dining out, as long as your employer subsidized your health insurance costs.
Known as the “Waterfront Wonderland,” this charming town is not only one of Florida's most affordable places but it is also one of the safest. Located in the southwestern part of the state near Fort Meyers, Cape Coral has an intricate system of canals which allow its residents to always be near the water.
Conversely, Hawaii tops the list of the most expensive states with an average house price of $636,400. As the only state not geographically based in North America, it's unsurprising that the cost of moving is significantly higher, from flights to shipping costs.
Mississippi is the state with the lowest cost of living in the US, with a cost of living index of 85. This means that the cost of living in Mississippi is 15% lower than the national average. The state has a low cost of housing, groceries, and utilities.
It is possible to live individually on a $20,000 income, but you will likely only be able to afford the items on your basic living expenses list if you aren't able to supplement your income.
$1,600 weekly is how much per year? If you make $1,600 per week, your Yearly salary would be $83,195. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 40 hours a week.
How much does a 30$ An Hour make? As of May 30, 2023, the average annual pay for a 30$ An Hour in the United States is $240,666 a year. Just in case you need a simple salary calculator, that works out to be approximately $115.70 an hour. This is the equivalent of $4,628/week or $20,055/month.
Introduction: My name is Greg Kuvalis, I am a witty, spotless, beautiful, charming, delightful, thankful, beautiful person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
