Cost of Living Comparison: Central Florida vs. Other States

by Mary And Stan Bell

Cost of Living Comparison: Central Florida vs. Other States

When considering a move to a new state, one of the most critical factors to evaluate is the cost of living. Central Florida, with its sunny weather, vibrant communities, and excellent amenities, is an attractive destination for many. But how does the cost of living in Central Florida compare to other states? In this blog post, we'll break down the key components of cost of living—housing, transportation, groceries, healthcare, and more—to give you a comprehensive overview. If you're thinking about Moving to Central Florida, this guide will help you understand what to expect.

Housing Costs

One of the most significant factors in the cost of living is housing. In Central Florida, housing costs are generally lower than in many other states, particularly those in the Northeast and on the West Coast.

Central Florida:

The median home price in Central Florida is around $350,000. Cities like Orlando, Clermont, and Windermere offer a variety of housing options, from affordable single-family homes to luxurious estates. Renting is also affordable, with the average rent for a two-bedroom apartment around $1,500 per month.

Other States:

In comparison, the median home price in states like California and New York can easily exceed $600,000. Even in other Southern states like Georgia or Texas, home prices are comparable or slightly higher than in Central Florida.

If you're interested in exploring housing options, check out our Website or visit our YouTubeChannel for virtual tours and more information.

Transportation Costs

Central Florida’s transportation costs are relatively low, especially when compared to states with extensive public transportation systems.

Central Florida:

Gas prices in Florida are typically lower than the national average, and the state’s relatively low population density means less traffic and lower car insurance premiums. Public transportation is available in major cities like Orlando, but most residents rely on personal vehicles.

Other States:

In states like New York, where public transportation is essential, monthly commuting costs can be significantly higher. California's notorious traffic can also lead to higher fuel consumption and vehicle maintenance costs.

Groceries and Dining

The cost of groceries in Central Florida is generally in line with the national average, though dining out can be more affordable than in many other parts of the country.

Central Florida:

Expect to pay around $300 to $400 per month per person for groceries. Dining out is reasonably priced, with a mid-range three-course meal for two costing about $60.

Other States:

In cities like San Francisco or Boston, grocery bills can be 10-20% higher, and dining out can be considerably more expensive, with similar meals costing $80 or more.

Healthcare Costs

Healthcare is another essential factor in the cost of living, and Central Florida offers competitive healthcare costs compared to many other states.

Central Florida:

Healthcare costs in Florida are close to the national average. The region is home to excellent healthcare facilities, including the Orlando Health system and AdventHealth, which provide quality care at reasonable prices.

Other States:

Healthcare costs can vary widely across the U.S. States like Massachusetts and California often have higher healthcare costs due to the higher cost of living in those areas.

Utilities and Other Expenses

Utilities, including electricity, water, and internet, are generally affordable in Central Florida.

Central Florida:

The average utility bill for a 915-square-foot apartment is about $150 per month. Internet costs are competitive, with high-speed plans averaging around $60 per month.

Other States:

Utility costs in colder states can be significantly higher due to the need for heating in winter. States like New York and Illinois can see utility bills well over $200 per month.

Taxes

Florida is well-known for its tax advantages, making it an attractive option for many retirees and working professionals.

Central Florida:

Florida has no state income tax, which is a significant saving compared to states like New York or California, where state income taxes can reach 10% or more. Property taxes in Florida are also moderate, averaging around 0.83% of a home's assessed value.

Other States:

In high-tax states, the absence of a state income tax in Florida can result in substantial savings, particularly for higher earners.

Conclusion

Moving to Central Florida offers a compelling cost of living compared to many other states, especially when you factor in the absence of a state income tax, affordable housing, and reasonable utility costs. Whether you’re relocating for work, retirement, or simply a change of pace, Central Florida provides an excellent balance of affordability and quality of life.

If you're considering making the move, Team Bell is here to help. We are experts in the Central Florida real estate market and can guide you through every step of the process. For more information, visit our Website or check out our YouTube Channel for more insights on Living in Central Florida with Team Bell.

Make the smart move today and discover why so many people are choosing Central Florida as their new home!