What is the cost of living in Florida?
Find out what the cost of living you could expect to spend in Florida if you plan to live there in 2025.
The state of Florida currently offers a relatively low cost of living because MERIC data reports that a person could live minimally in that state with an average annual expense of US$50,689 (approximately US$4,224 per month).
While this amount reflects a low cost of living, the transportation and housing sectors increase the average expense. For example, in the latter, mortgage payments range between US$1,137 and US$1,981 per month (depending on the household). Rents also range from US$1,137 for studios to US$1,828 for typically four-bedroom homes. Additionally, it should be noted that the average home value is US$377,816, taking into account that housing prices increase if you choose to live in Miami.
Average utility and grocery costs in Florida can exceed $1,700 monthly for a family of four.
The average utilities in the state of Florida are as follows:
- Electricity: Approximately $130
- Natural gas: Approximately $136
- Cable and internet: Approximately $111
- Water: Approximately $34
- Estimated monthly average: Approximately $411
In addition, spending on food and groceries averages US$324 per person per month. Therefore, it is concluded that a family of four could spend between US$1,200 and US$1,300 per month. This figure does not include eating out.
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Florida families face high childcare, healthcare, and transport costs but benefit from no state income tax
For transportation, a person without children could spend approximately US$5,477 per year, but with three children, they would spend US$15,530 annually. For healthcare, an adult would spend US$7,676 annually, not including private health insurance, since this expense would increase the average healthcare price.
Childcare expenses range from US$702 to US$1,364 per child per month. In this case, it depends on the child's age and the type of center (daycare, preschool, or home care). It's also worth noting that Florida doesn't impose an income tax, which benefits state residents by allowing them to save money.
