Understand the cost of living in Florida including housing, taxes, insurance, and everyday expenses. Compare Florida costs to the national average.
Florida has a cost of living index of 102, where 100 represents the national average. This means living in Florida is 102 percent of the national average cost. The median household income in Florida is $67,900, which should be weighed against local expenses.
Housing is typically the largest expense for Florida residents. The median home price is $380,000, with property taxes averaging 0.86% and home insurance at $3,600 per year. Renters also face costs influenced by the state's overall cost of living index of 102.
Florida residents pay a top income tax rate of 0%, a sales tax of 6%, and property taxes of 0.86%. Florida does not levy a state income tax, making it especially attractive for high earners. These tax rates play a major role in the overall cost of living and your household budget.
Auto insurance in Florida averages $2,800 per year, which is a significant ongoing expense. Combined with fuel, maintenance, and commuting costs, transportation can account for a notable portion of the Florida household budget.
With a cost of living index of 102, Florida ranks among states that are 102 percent of the national average. The median income of $67,900 and median home price of $380,000 provide useful benchmarks for comparison. Use CalcHubb's cost of living calculator to compare Florida with any other state.
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