Cost of Living in Florida, 2024
Imagine warm, sunny weather for the majority of the year. Add in white sand beaches, delectable cuisine, and a plethora of entertainment options that mean you’ll never be bored again. That’s the dream Florida residents get to live every day.
If you are considering moving to Florida, it’s crucial to figure out your budget beforehand.
This guide will break down the cost of living in Florida to help you determine whether you can afford to live comfortably in the Sunshine State. Let’s dive in!
Cost of Living in Florida
How Much Does it Cost to Live in Florida?
Considering the beautiful weather and access to great beaches, it’s surprising to find out that the cost of living in Florida is not astronomical.
The average cost of living in Florida is just 3.1% higher than the national average. MIT's Living Wage calculator reports that a single adult with no children would need to earn $17.72 per hour in order to live comfortably in Florida.
| Cost of Living | Florida | U.S. |
|---|---|---|
| Overall | 103.1 | 100 |
| Grocery | 102.8 | 100 |
| Health | 102.3 | 100 |
| Housing | 101.1 | 100 |
| Median Home Cost | $362,400 | $338,100 |
| Utilities | 101.3 | 100 |
| Transportation | 112.6 | 100 |
| Miscellaneous | 87.6 | 100 |
Be sure to remember these figures provide an average across the state. After all, Florida is quite large and spans different climates, which means the cost of living can vary across the state.
Where is the Highest Cost of Living in Florida?
The city in Florida with the highest cost of living is West Palm Beach, located along the Atlantic coast. The average cost of living in West Palm Beach is 8.1% higher than the national average.
| Cost of Living | West Palm Beach | Florida |
|---|---|---|
| Overall | 108 | 103.1 |
| Grocery | 104.8 | 102.8 |
| Health | 101 | 102.3 |
| Housing | 102 | 101.1 |
| Median Home Cost | $297,400 | $294,900 |
| Utilities | 97.1 | 101.3 |
| Transportation | 127.4 | 112.6 |
| Miscellaneous | 108.8 | 87.6 |
Where is the Lowest Cost of Living in Florida?
On the opposite end of the spectrum you have Titusville, a small city located in Brevard County. The average cost of living in Titusville is 13.9% lower than the national average.
| Cost of Living | Titusville | Florida |
|---|---|---|
| Overall | 87.1 | 102.8 |
| Grocery | 98.6 | 102.8 |
| Health | 94.4 | 98 |
| Housing | 69.6 | 102.6 |
| Median Home Cost | $208,200 | $294,900 |
| Utilities | 96.7 | 101.3 |
| Transportation | 87 | 112.6 |
| Miscellaneous | 99.9 | 96.9 |
How Much Is Rent in Florida?
According to our database of rental estimates, the average price of rent for all bedrooms in the entire state is currently $1,542 a month. Let's look at those averages for different numbers of bedrooms:
| Bedrooms | Average Rent |
|---|---|
| 1-Bedroom | $1,302 |
| 2-Bedroom | $1,539 |
| Overall | $1,542 |
However, while averages give us some insight into the market, prices can vary greatly by location. Here's a breakdown of the current rent prices for both one and two-bedroom apartment units in Florida's major metropolitan areas.
- Miami rent prices are steady since last month, but saw a 1.7% decrease from last year's rates. Currently, the median price of a one-bedroom apartment in Miami sits at $1,574. A two-bedroom apartment sits at $2,085.
- Fort Lauderdale rent prices are steady since last month, but have decreased 2.4% compared to last year at the same time. Currently, a one-bedroom median price is $1,623, and a two-bedroom price sits at $2,032.
- Tampa's rent prices stayed nearly flat over the past month, declining by 0.5%, and for the past year as well, declining only 0.7%. The median rent price for a one-bedroom unit is $1,332. A two-bedroom unit runs for $1,663.
- Orlando has experienced no change in rent over the past month and rents are down 3.9% year-over-year. Currently, the median rent price for a one-bedroom apartment sits at $1,325. The median price for a two-bedroom unit sits at $1,646.
How Much Does It Cost to Rent a 1-Bedroom in Florida?
The average price of a 1-Bedroom apartment in Florida is currently $1,302. However, that number varies depending on where you live, so let's look at averages in some of Florida's top cities:
| City | 1-Bedroom Rent |
|---|---|
| Miami | $1,488 |
| Tampa | $1,332 |
| Orlando | $1,325 |
| Florida (State) | $1,382 |
How Much Does It Cost to Rent a 2-Bedroom in Florida?
2-Bedroom apartments in Florida currently run around $1,539 on average. However, as with all rental prices, location matters; so here is a look at 2-Bedroom prices in some of Florida's top cities:
| City | 1-Bedroom Rent |
|---|---|
| Miami | $1,804 |
| Tampa | $1,663 |
| Orlando | $1,646 |
| Florida (State) | $1,539 |
How Much Does Housing Cost in Florida?
Those looking to own property in Florida will find that median home prices, much like rent prices, are also on the rise.
| City | Median Home Price |
|---|---|
| Miami, FL | $517,987 |
| Fort Lauderdale, FL | $500,443 |
| Tampa , FL | $408,997 |
| Orlando, FL | $375,330 |
How Much Does Transportation Cost in Florida?
According to MIT's living wage calculator, a single adult resident of Florida can expect to pay $5,477 in transportation costs annually. A family of four, with two adults and two children, can expect to pay $14,484 in transportation costs annually.
Florida is not known for its robust public transportation options. However, major metropolitan areas have functional public transportation networks that enable residents
How Much Do Groceries Cost in Florida?
Besides its sandy beaches, Florida is known for its plethora of dining options. It is a verifiable foodie paradise. That said, visiting these delightful food spots can make a dent in your budget.
If two adults eat out a modest one time monthly and prepare the rest of their meals at home, then in Miami, Jacksonville, Tampa, Orlando, and St. Petersburg, you can expect to pay $279.25 per month on groceries as a single adult. For two working adults and two children, that figure goes up to $821.33 per month.
How Much Does Healthcare Cost in Florida?
Using MIT's data, we've collected the average healthcare costs associated with a single individual and a household. Here's what those numbers look like:
- Single Adult Annual Healthcare Costs: $2,871
- Family of Four Annual Healthcare Costs: $9,758
You can shop for a healthcare insurance plan that fits your and your family's needs and budget online via Florida's health insurance marketplace.
How Much Are Utilities in Florida?
Considering the notoriously warm Florida climate, it's essential to know what to expect when you receive your first monthly utility bill. The good news is that many Florida metropolitan areas boast renter utility bills that are much lower than the national average.
The average monthly utility bill across the U.S. is $170.87 for basic utilities including electricity, water, and gas. Here's a breakdown of the average cost for basic utilities in Orlando, Tampa, and Miami.
- Orlando: $235.01
- Tampa: $217.22
- Miami: $214.97
- Florida overall: $217.09
Keep in mind that these rates reflect the average cost for basic utilities. You’ll have to refer to your local municipality regulations and pricing for trash collection, the final public utility.
Fitness and Entertainment
It’s easy to run up your entertainment budget line if you’re not too careful. Luckily, there are tons of free and paid entertainment options to choose from. Here’s an in-depth look at some of the fitness and entertainment options that Florida has to offer.
Gym Memberships
Here's a look at average fitness membership costs per month in the following cities:
Tampa - $29.50 Miami - $48 Orlando - $36.62 Jacksonville - $26.35
However, if you're looking for a cheaper alternative, lacing up your sneakers and heading out for a run at one of Florida's many public parks and beaches might be the simplest and least expensive way to break a sweat.
State Parks in Florida
Florida boasts many state parks, each offering a unique and wildly entertaining adventure for the price of parking (generally $6 a vehicle). Here are some of the most beautiful state parks you need to visit in Florida:
- Oleta River State Park features a fishing, swimming, camping, paddling, picnic areas, and snorkeling in a saltwater lagoon. It also features trails for walking, running, and biking, all within half an hour away from downtown Miami.
- Hillsborough River State Park is just minutes away from Downtown Tampa. This state park offers geocaching, fishing, biking, hiking, walking, horseback riding, swimming, and more.
- Wekiwa Springs State Park is located in close proximity to Downtown Orlando and is; one of the best neighborhoods in Orlando. Head over for a day of fun birding, camping, hiking, mountain biking, paddling, snorkeling, and viewing wildlife.
Visit a Famed Attraction
Florida is hard to compete with in terms of its sheer number of famed attractions. Just keep in mind that these attractions are generally expensive to enjoy.
If you're looking for a day of entertainment and fun, then you've got a lot of options. Check out Disney World, Universal Studios (home to the Wizarding World of Harry Potter), the Daytona 500 Speedway, or the Kennedy Space Center. Make a weekend of it and enjoy an in-state vacation.
How Much Are Taxes in Florida?
Florida does not have a state income tax rate. That’s a real advantage to living in the Sunshine State.
Although Florida’s sales tax rate is lower than some other states, it’s still a significant 6%. That’ll certainly make a difference to your bank account. Additionally, some counties may add a percentage point or two to this tax rate. That can increase it substantially. So be sure to check your county’s tax rate.
Other Expenses to Consider in Florida
The one thing about moving to another state is that it can be challenging to anticipate the “hidden costs” of making the move. These expenses are often completely forgotten about when creating a budget. Even worse, sometimes people assume they’re at a much lower rate than they should be.
Don’t fall prey to these costs. Childcare costs can be expensive in the state of Florida. The average annual cost of childcare for a single child in the state is $8,376. That rises to $16,572 for two children.
What Salary Do I Need to Live in Florida?
If you follow a common rule of budgeting that states your rent should amount to no more than 30% of your monthly income, then we can calculate that based on an average rent of $1,382 for a one-bedroom apartment, a renter should earn at least $4606.67 monthly before taxes. This translates to an annual salary of around $55,280.
To use a different measurement, according to MIT's Living Wage Calculator, a single adult with no children needs to earn at least $22.43 an hour to live comfortably in the state of Florida (for 2080 hours per year), which brings their yearly salary to about $46,654.
Luckily, according to data collected by the U.S. Bureau of Labor Statistics, the average annual wage of Florida residents is slighthly higher than both of those calculations, and currently sits at $61,777.
What Do I Need to Know When Moving to Florida?
Knowing whether you can afford to live in Florida is crucial. If you’ve built your budget and are sure that it’s a move you can afford, congrats!
Get started with your apartment search. Take our easy quiz to help you find your dream apartment in Florida.
You can also learn more about:
Orlando:
- Things to Know Before Moving to Orlando
- Best Neighborhoods in Orlando
- Average Rent in Orlando & Rental Price Trends
- Cost of Living in Orlando
Miami:
- Cost of Living in Miami
- Things to Know Before Moving to Miami
- Best Neighborhoods in Miami
- Average Rent in Miami & Rental Price Trends
Tampa:
- Cost of Living in Tampa
- Best Neighborhoods in Tampa
- Average Rent in Miami & Rental Price Trends
- How to Find Apartments in Tampa
Ready to Find a New Apartment in Florida?
Learn more about the best and cheapest places to live in Florida. Or take our easy quiz to get started on your apartment search today!
FAQs: Cost of Living in Florida
How expensive is an apartment in Florida?
Rents in Florida vary depending on the location. A one-bedroom apartment in Tampa is $1,404 and a two-bedroom costs $1,733. In Miami, a one-bedroom apartment costs $1,622 and a two-bedroom costs $2,150. In Orlando, a one-bedroom apartment costs $1,379 and a two-bedroom costs $1,627. In Jacksonville, a one-bedroom apartment costs $1,193 and a two-bedroom costs $1,148.
What is the cheapest rent in Florida?
Inexpensive rents in Florida depends on which city you live in. A one-bedroom apartment in Tampa is $1,404. A one-bedroom apartment in Miami costs $1,622. A one-bedroom apartment in Orlando costs $1,379. A one-bedroom apartment in Jacksonville costs $1,193.
Is it expensive to live in Florida?
Florida is not particularly expensive; the average cost of living in Florida is just 3.1% higher than the national average, while according to our database, the average cost of rent for a 1-bedroom apartment is $1,382.
How far is Texas from Florida?
Florida is 1,402 miles away from Texas. It takes 20 hours and 54 minutes to get to Texas from Florida by car, 111 hours by bike, and 473 hours by foot.
How far is California from Florida?
Florida is 2,737 miles away from California. It takes 41 hours to get to California from Florida by car, 229 hours by bike, and 912 hours by foot.
How far is Georgia from Florida?
Florida is 366 miles away from Georgia. It takes 6 hours and 8 minutes to get to Georgia from Florida by car, 31 hours by bike, and 118 hours by foot.
How far is Tennessee from Florida?
Florida is 718 miles away from Tennessee. It takes 11 hours and 3 minutes to get to Tennessee from Florida by car, 62 hours by bike, and 232 hours by foot.
How far are the Bahamas from Florida?
Florida is 313 miles away from the Bahamas. It takes 1 hour and 22 minutes to get to the Bahamas from Florida by plane.
What is the population of Florida?
According to the U.S. Census Bureau, the population of Florida is 22,244,823.
Is Florida cheaper than Colorado?
Florida is cheaper than Colorado. The median rent for a one-bedroom apartment in Denver, Colorado sits at $1,376, while the average rent for a one-bedroom apartment in an area like Tampa sits at $1,404.
What is a good salary in Florida?
According to the U.S. Census Bureau, the median household income is $61,777. However, you should spend no more than 30% on rent. If a one-bedroom aparment in Tampa costs $1,404, you should earn at least $61,777.
Share this Article
Explore properties in Columbus, OH
