As an expert in the field, I have researched and analyzed the cost of living in various cities in Florida. It is a common concern for people considering a move to the Sunshine State, and rightfully so. While there are many factors to consider when choosing a place to live, the cost of living is an important one. In this article, I will share with you the 25 most expensive cities to live in Florida, ranked in ascending order based on total monthly costs. When determining the cost of living, we use a cost of living index.
This index takes into account various expenses such as housing, utilities, healthcare, entertainment, transportation, food, child care, and taxes. A cost of living index of 100 represents the national average. If a city has an index of 105, it means that its cost of living is 5% higher than the national average. On the other hand, an index of 95 indicates that the cost of living is 5% lower than the national average. It is important to note that not all expenses included in the index may apply to everyone.
Therefore, it is essential to do your own calculations based on your specific needs and lifestyle. However, this list serves as a great starting point for those considering a move to Florida.
The Least Expensive Places to Live in Florida
As an expert in retirement communities, I have included some of the most affordable places to retire on this list. However, keep in mind that there may be cheaper places to live in Florida that are not necessarily ideal for retirement. The most affordable place to retire on our list is On Top of the World, which is also home to several other communities for people over 55. Another up-and-coming community is Babcock Ranch, which is too new and small to be included in the BestPlaces data. Therefore, I have used the cost of living in Punta Gorda, which is right next door and where many Babcock Ranch homes have an address. Melbourne, located on Florida's space coast, is a popular location and home to the planned community of Viera.This community has consistently been one of the best-selling communities in Florida. These are some of the least expensive places I have found, but they may not necessarily be the most attractive for retirement.
The Most Expensive Places to Live in Florida
On the other end of the spectrum, we have the most expensive places to live in Florida. If you are considering retiring in the Florida Keys, be prepared for a high cost of living. Even popular places like Marathon, Islamorada, and Key Largo do not offer much relief in terms of cost of living. Delray Beach, located in Palm Beach County, is one of the most expensive parts of the state.Nearby cities such as Boca Raton and Boynton Beach also have a similar cost of living. I was surprised to see Naples on this list as I expected it to be even more expensive. However, it is still considered the most expensive city on our list. San Agustín also made it to this list, which was unexpected for me. The housing prices in this area are relatively affordable, especially for communities over 55. Winter Garden is another city that is not too expensive but still above the Florida average.
Its proximity to theme parks and expensive cities like Windermere contribute to its higher costs.
The Main Factor: Housing Costs
After examining the data, it became clear that housing costs are the main factor in determining the cost of living in a particular city. This includes buying or renting costs. Other expenses such as food and utilities do not vary significantly across the state and do not have a significant impact on the cost of living. For those interested in living in The Villages, the most popular retirement spot in Florida, I have included a full breakdown of the costs. With the exception of the Florida Keys, most places in Florida have a reasonable cost of living.In fact, Florida's overall cost of living is only 2.8% higher than the national average. As an expert who lives in Babcock Ranch, I can attest to the fact that it is an expensive place to live. Coming from the Midwest, I have noticed that food and eating out are particularly expensive here. However, this is not surprising considering that Babcock Ranch is a new and growing community.
My Observations on Cost of Living in Florida
I have had many conversations with people from different parts of the country who are considering a move to Florida. Based on my observations, here are some key points to keep in mind when comparing the cost of living in Florida to other states:- Orlando has almost the same housing costs as New England, but salaries are significantly lower.
- Punta Gorda is a great place to live, but Hurricane Charley was enough to make me reconsider.
- Miami rent represents 60% of typical household income, which is significantly higher than other cities like Tampa and Orlando.
The Most Expensive Cities in Florida
To determine which cities are the most expensive to live in, GOBankingRates used data from the U.S. Census American Community Survey to calculate total population and average household income for each city. Based on this data, the following cities were found to have the highest cost of living in Florida:
- Key West
- Delray Beach
- Naples
- San Agustín
- Winter Garden
Florida offers a unique lifestyle and many benefits that make it an attractive place to call home.
