How Much Does It Cost to Live in Florida?

You’re likely familiar with Florida for some of the major tourist attractions: Disney, sandy beaches, the wilds of The Everglades. Tourism is a big part of Florida culture. However, Florida isn’t just a great place to vacation – it’s also a fantastic place to live.

If you’re curious about finally making the move to the Sunshine State, you might be curious about how much it costs to live in Florida.

What is the cost of living in Florida, and is it in your budget to make the move? Read on, and we’ll walk you through some basic information that you should get familiar with.

Average Florida Housing Costs

If you’re going to make the move to Florida, the cost of your new home is going to the major element that you need to get familiar with.

As you would expect, the cost of housing you will need to budget for will depend on where you want to live and the kind of house you desire. That being said, the average cost of housing in Florida is very close to the national average at $335,000.

Of course, you’ll need to remind yourself that there is a great deal of housing that is not near the beach in Florida. You’ll likely need to shell out more if you want to be anywhere near the water.

When it comes to housing costs in Florida, Miami has some of the most expensive rents, while Orland has some of the most affordable. Florida is a large state, and no matter where you look, you should be able to find something that fits your budget.

If you want to build your home as opposed to buying an existing one, you can look here for more information.

Cost of Living in Florida

The cost of living in Florida ranges from city to city as well. If you’re looking to save on utilities, transportation, food, and more, it will all depend on which city you move to.

Many cities in Florida fall under the national average for these categories, but many also rise significantly above. The same could be said for health care costs across the state as well, with Jacksonville having the most affordable health care options on average.

However, it is well worth mentioning that Florida requires absolutely no income tax. This is one of the major benefits of moving to Florida. This is why it is one of the most popular places in the country to retire.

Of course, there is still a high sales tax in Florida, and there are many special taxes that exist here that don’t exist in other states. It’s best to speak to a tax professional to determine where to live in Florida and how much you should budget.

Aspiring to Live in Florida?

If the sunshine, warm weather, and beaches are calling your name, it might be time to prepare for a move down south. However, if you want to live in Florida, it’s important to understand the costs you might face. The above information can help.

Need more personal finance advice? Keep scrolling our blog for more.

Photo by Denys Kostyuchenko on Unsplash

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