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Cost Of Living in Florida

Cost Of Living in Florida

The beautiful Sunshine State! Is it expensive? Is it affordable? What’s the true cost of living in Florida?

Florida’s goods and services cost just 0.6% more than the national average, according to the BEC, and the 15th highest overall cost of living! 

This is to say, like most other coastal states, living in Florida could cost more than living in the inland states or where you’re coming from. If you plan to relocate to the Sunshine State, you must first take a look at your budget and plan your finances well.

This article will help you understand if you can afford to live comfortably in paradise. Let’s go!


Florida is one of the most captivating cities in the world. It has a robust economy, not forgetting its beautiful natural scenic views. If you are planning to move to this warm city, you will definitely need to invest in a deserving abode for you and your family. Keeping yourself abreast with the housing costs should be at the top of priorities.

Orlando is probably one of the best places you can reside while in Florida. Depending on your budget, a beach house or mansion will compel you to dig deeper into your pockets for some extra thousands of dollars. Nonetheless, rent and home prices vary from city to city and from one neighborhood to the other. The second quarter of 2021 saw Florida median home prices skyrocket, especially for single-family homes. This upward trajectory could mean positive gains for real estate investors and future homeowners alike.  

Prices for rentals are average but higher in some places. Do thorough research to enable you to work well with your budget and style of living. If you intend to rent a condo or an apartment, below are some insights you could use.

Rent Prices in Florida 

Here’s a breakdown of current one- and two-bedroom apartment rent pricing in Florida’s largest cities.

  • Miami – Being among the most expensive cities in Florida, you can expect to spend nearly $1,500 for a one-bedroom condo, and $1,931 for a two-bedroom.
  • Fort Lauderdale – rent costs rose 17.1% year-on-year. A one-bedroom currently costs $1,290 approximately, and a two-bedroom costs $1,550.
  • Tampa – rent costs are up 29.4% year-over-year. A one-bedroom unit rents for $1,387 on average, with $2691 standard rent for a two-bedroom condo.
  • Orlando’s – Recently renting a one-bedroom apartment would cost $1,375. A two-bedroom unit was around $1,634.

Cost of Utilities

Utility bills are some of those loads in life which all of us are compelled to endure. In Florida, the cost of utility can drive you nuts in some cities. It has some of the most expensive utilities in us. Paying bills for internet, electricity, communications, TV, garbage collection and natural gas will require you to be armed with a huge bank account.

One of the main reasons why utility bills are high is the air conditioning cost. You can’t survive without an AC in Florida. You must battle with the high melting temperatures and humidity. This pushes the energy bills to skyrocket. Utility cost varies with different states.

The average monthly utility bill in the US is $157 for power, water, and gas. Here’s an overview of basic utility costs in Orlando, Tampa, and Miami on average per household.

  • Orlando: $178  
  • Tampa: $159
  • Miami: $140

Keep in mind that these are average utility costs. For garbage collection, the ultimate public utility, check with your local municipality. Cell phone, cable (or streaming), and internet service are now considered personal monthly utilities. Most people would consider them necessities.

These fees vary widely between providers. They’re also reliant on your specific circumstances, so estimating them can be tricky. It also pays to research the top providers in your area before committing to a plan, so you can change your budget accordingly.

Food and Groceries

Food has become one of the most expensive commodities in this 21st century. Florida is not an exception because its foods and groceries are exorbitantly high. At times, meats like beef, lamb, and chicken can be a rare bite on your plate if you live on a minimum wage. Nonetheless, the ever-flourishing job market and economy in Florida compensate for the seemingly high food costs, so you won’t eke much while living in the sunshine state.

Job Opportunities

In many places getting a job can be a tall order. The Florida job market is quite stable, but opportunities are also highly competitive. This explains why the unemployment rate in Florida stood at a staggering 1.9% as of May 2021 according to the Bureau of Labor Statistics. Unless you’re aggressive enough, you could easily find yourself settling for a job that is far below your credentials when living in Florida.

Walt Disney is one of the largest employers in Florida. Others include the grocery chain Publix supermarkets, and public schools. On average pay, the salary can range from 9 dollars to 30 dollars per hour. Some of the most common job opportunities include construction workers, commercial drivers, cleaning workers, and farm advisors. If you are looking for a job with good earnings, you can approach roofers, healthcare workers, and home insulation professionals

The average yearly pay in Florida is $51,908. This is according to statistics gathered by the Bureau of Labor Statistics. This statistic, however, only reveals part of the tale. To figure out how much you need to earn, you must first figure out how much you need to live comfortably. It is suggested that you earn at least three times your monthly rent. You may avoid being overburdened by home expenditures in this way.


Moving to a new state requires you to familiarize yourself with all the basic necessities, like transportation. Florida State has a variety of options when it comes to transport. They include the interstate highways, Florida state roads, commuter rail, airports, and public transportation, just to name but a few. Orlando is ranked among the best driving cities in the US. The public transport has affordable fares and free rides from the Metrobus and Metrorail to suit your budget.


Health is one of the greatest ‘unpurchasable’ treasures one can own. Florida has a vast range of healthcare providers and facilities. They are all designed for your ease and serenity. Hawaii is known as the top state for healthcare in Florida, followed by Massachusetts and Connecticut. Florida has one of the most affordable healthcare systems in the country.


Taxes control the way we live daily. It can make the cost of living for its citizens miserable or make it easier. Florida is one of those tax-friendly states in the world. In the city under the sun, there are no taxes for personal income tax. The retirees in Florida are less taxed after retirement.

If you are packing your bags for retirement, Florida will be a great place to reside. It will save you loads of bucks since it has no state taxes on social security, pensions, and other retirement income. Also, Florida has no inheritance tax.

Cheapest Places to Live In Florida 

In every country, there is always a budget for humble citizens. If you are a nomad, retiree, or expat, you can still live comfortably at a minimum budget in Florida. There are uncountable great places you can stay, which are affordable even with just a few hundred dollars on your paycheck monthly.

Cape Coral, to begin with, is one of the top cheapest places you can live in Florida. The folks in this place do not pay income tax, estate tax, and inheritance tax. Alongside this famous home to numerous canals and manatees, below are some of the most inexpensive places to consider when moving to Florida.

  • Cape Coral: This is the place to be if you love water and all that comes with it. Not to mention the golf courses and beautiful beaches. Besides the tropical savanna environment, this southwestern Florida area has great mortgage rates.
  • Jacksonville: Despite being the US’s 12th most populated city, Jacksonville is a fun and affordable location for all ages. There are great neighborhoods in the Northside, Riverside, San Marc, Orange Park, and Southside.
  • Dunedin: Dunedin is home to one of the world’s greatest beaches. This affordable city is ideal for both the active population and retiring baby boomers.
  • Bartow: An agricultural city in Florida’s Polk County with strong tourism and mining sectors.
  • Coconut Creek: A safe community near world-class beaches in FL, boasting a tropical forest environment. It’s great for families and has an awesome educational system.

Other cheap spaces with low living costs include fort Meade, edge water.

In conclusion, Florida can be a great place to live for people of all ages. This fun-filled state offers numerous opportunities to everyone, whether you want to excel in life or spend your golden years in relaxation. You just have to be keen on where you choose to live and how much it will cost you. The above few pointers should help you get the affordability part right!

Here’s a breakdown of what it costs to live in Florida 

  • Housing
  • Utilities
  • Foods and Groceries
  • Job Opportunities
  • Transport
  • Healthcare
  • Taxes

Please consult a licensed real estate agent or appropriate professional
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