How Much Does It Really Cost to Live in Florida?

Florida’s population has increased by 2.7 million over the past decade, and 900 people move there daily. 

You may be wondering how much does it cost to live in Florida? Might you have heard it’s cheap? Perhaps you’ve been told it’s costly? The truth is if you ask a person, you’ll only get their perspective. And that’s fine.

However, if you’re truly curious about the cost of living in Florida, you need to ask an expert. You need to look at the numbers, the give and take, the taxes, real estate, gas prices, etc. 

It Depends on the City

The city you live in will affect your cost of living in Florida. Cities like Miami, Akoya Boca West in Boca Raton, and Coconut Creek are going to cost you more than Jacksonville, Tampa, or St. Petersberg. 

The cost of living in Jacksonville is seven percent below the national average and 50% below New York. At the same time, it’s 13% lower than Chicago.


Let’s discuss everyone’s favorite topic, taxes. Taxes are one of the main reasons people move to Florida, mainly from New York and New Jersey.

Florida is considered a tax-friendly state. There’s no state income tax. This means your paycheck will only have federal income tax taken out. Not only will you have more money for necessities but you’ll have more for fun too. 

While living in Florida, you’ll still have to pay 6% sales tax which isn’t bad. On the other hand, New York is only 4%, but when you add local taxes and suffixes, the state average comes to 8.48%.

Florida is great for retirees because they’re not taxed on pension or other retirement benefits. 


The average cost for a single-family home in Florida is around $313,000. The average cost of a single-family home in the United States is about $303,000.

A one-bedroom apartment in Florida will cost you about $850 per month. Florida is ranked 18th highest in the US for rental properties.

Gas Prices

The price of gas is a big factor when calculating the cost of living. Florida is right in the middle.

As of today, the average price for a gallon of gas in the US is $3.29. Across the state of Florida, it ranges from $3.16 to $3.36 per gallon.


Florida is constantly warm almost all year round. However, in the summers, it gets extremely hot. That will increase your cost of living due to running your air-conditioner non-stop almost the entire summer.

Cost of Living Index

You factor in the price of rent, mortgage, food, gas, taxes, etc.; in the area where you live, you get your cost of living index.

For instance, if you lived in Miami instead of Tampa, you’d have an 18% higher overall cost of living index.

The Cost to Live in Florida

As you can see, the cost to live in Florida can differ quite a bit. However, it’s a better option financially than in several states.

You can live comfortably there on a modest salary with no state income tax, average housing costs, and reasonable gas prices. 

If you like these great trips, check out our Lifestyle blog.

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